Iran Positions Itself with Subsidy Cuts

The Iranian Parliament has supported a bill which would greatly reduce subsidies for food and energy. The Iranians claim that this will lessen excessive use of resources and bring prices in line with international norms. It is interesting posturing by the Iranian regime who is already dealing with severe domestic unrest and is operating under the threat of looming sanctions.
To read more click here NYTimes.

Mexico looks to take over - Federal power v. State Power

The Wall Street Journal reports, that shortly before midnight, federal police took over the installations of state-owned Luz y Fuerza del Centro. This installation distributes power to some 25 million Mexicans in Mexico City and parts of four central states. President Calderón, stated that due to the economic crisis, Mexico could no longer afford the huge subsidies it took to keep Luz y Fuerza afloat . . . read more.

(also available in print in The Wall Street Journal, page A12.)