The Oil Drum: New York City

Helping New Yorkers understand, prepare and adapt to the implications of Peak Oil

Wednesday, July 20, 2005

Southeast Asia: Canary in the Peak Oil Mine

The impact of peak oil will first be felt in countries less well off than the US and Europe. We need look no further than Indonesia, a member of OPEC, to see major problems starting to occur. The government has been subsizing gas and fuel prices to help insulate the economy from fluctuations over the last year, but now the government is facing a bill ($11 billion) greater than the budget costs for health and education simply to keep fuel cheap.

They should be afraid of ending the subsidy because the last time they did (picture from 2002) there were massive protests.


Thailand had to raise it's key interest rate recently because of inflation fears as gas and fuel prices rise as subsidies are cut and have even resorted to compulsory measures to control gas usage: The closure of petrol stations from 10 p. m. to 5 a. m. effective from 15 July. The government "hopes the measures will also instil in the public a sense of emergency over the need to conserve energy."

Malaysia may also cut its fuel subsidy soon

Southeast Asia is the canary in the mine for oil prices. Watch what happens there and learn.


1 Comments:

At 5:03 AM, Anonymous Anonymous said...

tibia money tibia gold tibia item runescape accounts buy runescape accounts runescape money runescape gold runescape gp runescape power leveling runescape powerleveling cheap rs2 powerleveling runescape equipment buy rs equipment runescape runes cheap rs2 runes runescape logs cheap rs2 logs runescape items buy runescape items runescape quest point rs2 quest point cheap runescape questpoint runescape gold runescape items runescape power leveling runescape money runescape gold buy runescape gold buy runescape money runescape items runescape accounts runescape gp runescape accounts runescape money runescape power leveling runescape powerleveling tibia gold dofus kamas buy dofus kamas wow power leveling wow powerleveling runescape questpoint rs2 questpoint Warcraft PowerLeveling Warcraft Power Leveling World of Warcraft PowerLeveling World of Warcraft Power Leveling Hellgate money Hellgate gold buy runescape logs buy rs2 items cheap runescape items Hellgate London gold Guild Wars Gold buy Guild Wars Gold runescape items rs2 accounts cheap rs2 equipments lotro gold buy lotro gold buy runescape money buy runescape gold buy runescape runes lotro gold buy lotro gold runescape money runescape gold cheap rs2 powerleveling eve isk eve online isk buy runescape power leveling rs2 power leveling tibia gold tibia item runescape accounts Fiesta Silver Fiesta Gold SilkRoad Gold buy SilkRoad Gold Scions of Fate Gold Hellgate Palladium Hellgate London Palladium SOF Gold Age Of Conan Gold AOC Gold ArchLord gold tibia money tibia gold runescape accounts runescape gold cheap rs2 powerleveling buy ArchLord gold DDO Plat Dungeons and Dragons Online Plat

 

Post a Comment

<< Home