Soaring Energy Demand Leaves Southeast Asia In A Precarious Position

Despite slowing economic growth, Southeast Asia is on its way to become a net energy importer, the International Energy Agency said in its annual Southeast Asia Energy Outlook. The agency notes the fast rise of fuel demand as the main driver of this trend. Currently, demand for fuels in Southeast Asia is rising a lot faster than local production of crude oil and this will tip the region into net importership for the first time in history. Electricity demand is also on the rise as Southeast Asian economies expand access to electricity to their citizens.…