http://www.bbc.com/news/business-32396127
Experts at the World Economic Forum on East Asia predict that gas prices will rise even higher soon. They're currently at their highest for the year, up 40% from the low of $45 a barrel in January. Prices halved last fall and winter, but that is not an abnormality for the oil market. Prices have dropped by more than 50% five times in the last thirty years. Some businesses have been delaying projects because of the drop over the last year, but many experts say this is unwise because demand will pick up dramatically in the next 2-3 years. Asia is expected to become a net importer of oil soon as the last Southeast Asian member of OPEC (Indonesia) recently lost its status when it became a net importer of oil.
2 comments:
I like that Indonesia is looking toward more sustainable energy resources. Since this OPEC country has become a net importer, they have already seen that oil doesn't last. Although investing in alternative energy sources is expensive to do, it is worth while in the long run.
As both EU, US and some other countries signed the agreement of developing alternative energy and controlling carbon emission. In the long run, oil will lose its status in manufacturing industry.
Post a Comment