Saturday, April 23, 2011

Mubarak's Gas Deal with Israel

According to the NY Times, Mubarak sold natural gas to Israel at around half it's market value, which cost Egypt hundreds of millions of dollars. The deal made no sense, and the exported natural gas was needed domestically. The article also mentions that Egypt's intelligence agency owns a slice of the deal.

Thankfully now that Mubarak has been overthrown and is in detention pending his trial, the only kind of natural gas he can emit is totally worthless but is as stinky as the Israel deal.

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