Editorial: Let’s invest in

Egyptians ended up spending most of the vacation waiting in the long queues outside petrol stations, that suddenly started running short of fuel, a day before the Feast.

In the last week of Ramadan, there was a fuel crisis in some governorates, but it wasn’t felt in the capital until the last day of the holy fasting month.

Instead of admitting that a lack of planning was to blame, some governmental officials attributed the problem to a lack of investment in oil refining and the continuous rise in fuel consumption.

Egypt needs to expand its oil refining sector because the rate of fuel consumption has been rising by 17 per cent annually since 2000, but the crisis could have been prevented if more petrol had been provided for the petrol stations on the nation’s highways, in order to boost domestic tourism.

Why doesn't the Government get other Arab countries to invest in new refineries here, especially as many of the regional oil-producing countries do not refine oil themselves and export their petroleum as crude oil?

Egypt has a lot of experience in this field and it could turn oil refining into a giant industry for local consumption and exports to the Western markets.