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Middle East War Sharpens Focus on ASEAN Energy Security Plans - BusinessWorld Online
Ministers are weighing stockpiles, emergency fuel responses and cleaner energy as the ASEAN Centre for Energy warns nearly 28% of oil use could be at risk.
- Southeast Asian energy ministers convened in Manila this week to review security plans as the US-Israeli war against Iran threatens regional energy stability and exposes vulnerabilities to imported energy.
- Nearly 28% of ASEAN's final oil consumption is at risk from Middle East supply disruptions, the ASEAN Centre for Energy warned in a policy paper, underscoring the urgent need for stronger regional petroleum-security arrangements.
- Rising fuel costs are eroding earnings for transport workers; Manila jeepney driver Antonio Bandin reported his daily bill doubled to about $38, saying "We hardly take anything home anymore."
- Implementation of the ASEAN Framework Agreement on Petroleum Security faces obstacles due to insufficient regional storage capacity, though analysts warn such stockpiling initiatives address future crises rather than the present conflict.
- The International Energy Agency projects the region's energy import bill could rise to about $245 billion by 2035 without structural change, prompting ministers to prioritize renewable energy, electric vehicles, and the ASEAN Power Grid.
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Middle East war sharpens focus on ASEAN energy security plans, World News
MANILA — Southeast Asian energy ministers meeting in Manila this week face the prospect of a prolonged Middle East war that has exposed the region's vulnerabilities to imported energy.As the US-Israeli war against Iran drags on, there is increased urgency for ASEAN to implement its proposed energy security plans and reduce its exposure to price shocks caused by attacks on...
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
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