<Poll: How do TOD readers transport themselves?The Oil DrumDrumBeat: May 16, 2006>

47 comments on This is not about blowing smoke, even at the end, I don't think

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Dave Cohen on May 16, 2006 - 12:33am Permalink | Subthread | Comments top
Glad you're talking about these Asian countries, HO. I'm writing this from Hays, Kansas and when this ridiculous chaos of moving from Boulder to Pittsburgh ends, I've got a story on the effects in Thailand just about ready to go. This country will make a good case study of what these energy costs are doing to less developed economies that are heavily dependent on oil for continued economic growth.

I invite any Thai readers we may have to contribute their observations about the situation there. Or anyone else who is intimately knowledgeable about it.

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Freyr on May 16, 2006 - 1:52am Permalink | Subthread | Parent | Comments top
Many vehicle owners are installing an LPG dual fuel systems to help against the rising cost of petrol. Currently LPG is about half the cost of using petrol.

I look forward to commenting directly on your report.

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Freyr on May 16, 2006 - 7:29pm Permalink | Subthread | Parent | Comments top
I should have commented that the normal dual-fuel conversion is to CNG. LPG is being adapted for use also, but this is a dangerous conversion due to the improper use of cooking gas containers.
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jdeely on May 16, 2006 - 11:57pm Permalink | Subthread | Parent | Comments top
Dave...
 Here's some info below for your Thai article. I am curious what your angle is going to be. The first note says that the Thai economy will ONLY grow by 3.5 -4% if oil stays around $80/barrel. I wonder what happens if oil drifts down to $65/barrel?!
The second note mentions that the economy grew faster in the first quarter - 6%!! - than it has in over a year even with a lot of politcal uncertainty. Is your article going to be about how high oil prices don't seem to be having much of an effect on the Thai economy??

http://english.people.com.cn/200605/13/eng20060513_265156.html
"Thailand's economy is likely to increase 3.5-4 percent this year, lower than the projected 5 percent, if global oil prices continue to soar, according to the Kasikorn Bank.

Kasikorn Bank President Prasarn Trairattanaworakul was quoted by Thai News Agency as saying Friday that Thai economy will grow at between 4-4.5 percent this year if oil prices hover around 80 U. S. dollars a barrel. Any further rise in fuel prices above the line could push the country's GDP growth down to 3.5-4 percent.

He predicted the Bank of Thailand would likely to hike the benchmark of 14-day repurchase rate by at least a quarter of a percentage point to 5 percent in line with the U.S. Federal Reserve Board.

This will make commercial banks in Thailand adjust their rates upward to place lending rates at 8-8.5 percent across the board. However, savings rates will vary depending on the liquidity situation of individual banks."

Bllomberg says:
http://www.bloomberg.com/apps/news?pid=10000080&sid=aPEjIcWg7LwA&refer=asia
"Thailand's economy probably grew at the fastest pace in more than a year as exports and tourism gained, Finance Minister Thanong Bidaya said.

Southeast Asia's second-biggest economy expanded almost 6 percent in the first quarter from a year earlier, Thanong said in an interview today at the Asian Development Bank's annual meeting in Hyderabad, India. That would the fastest pace of growth since the 6.3 percent rate in the third quarter of 2004."

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