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Energy expert says cuts to Oil Fund too soon
By k on August 8, 2009
BANGKOK, 8 August 2009 (NNT) - An energy expert has pointed out that the Government’s plan to reduce contributions to the Oil Fund is too soon. They said the contribution rate needed to be maintained to offset losses projected for the end of the year.
Energy Expert Manoon Siriwan said the global fuel price was likely to reach as high as 80 or 90 USD per barrel by the latter end of the year. He added that recovery signs should also be incentive to maintain the contribution rate for the Oil Fund as the money would be useful in the future. He remarked that if the Government saw its cut as necessary, it should limit the decrease to only 50 Satang to 1 baht a liter, not the expected 2 baht per liter as that would mean 1.8 billion baht would be lost from the fund monthly.
Mr Manoon further noted that indicators had shown the potential for the global oil price to drop another 4 or 5 USD.
Related posts:
- Energy Ministry demands more contribution to Oil Fund BANGKOK, 9 July 2009 (NNT) – The Ministry of...
- Global crude oil price expected to fall to US$54-65/barrel this week BANGKOK, 16 August 2009 (NNT) – Energy expert Manoon...
- Oil fund not to shoulder oil price more than 4 months BANGKOK, 1 June 2009 (NNT) – Energy Minister MD Wannarat...
- Oil price to stand at 76 USD per barrel this week BANGKOK, 23 November 2009 (NNT) – The price of oil...
- Diesel price cut by 2 baht/liter to be effective on 14 Aug BANGKOK, 11 August 2009 (NNT) – Energy Minister Dr Wannarat...
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