Oil prices slump, alternative energy on the rise

October 13th, 2008 - 12:58 pm ICT by Amrit Rashmisrisethi  

Domestic oil prices next week are expectedly about to reduce by 1 baht a liter in line with global markets. Global oil prices have continually plunged due to the economic meltdown and the shrink in oil consumption.

Despite good news on oil prices, purchasers are advised to closely monitor oil trade movements in Singapore market, asserting that it directly plays a vital role to Thailand’s energy businesses.

In spite of feasible slump of oil prices, President of Bangchak Petroleum Public Co., Ltd. (BCP) Anusorn Saengnimnuan urges consumers to use it sparingly, adding that less consumption helps reduce oil imports from offshore markets, which require the Government’s substantial subsidy cost.

With its ongoing promotion of alternative energy for domestic consumption, moreover, Bangchak eyes unveiling ethanol 85 (E85) to local markets at this month end. Mr. Anusorn explains the move means to support the Government’s platforms regarding national energy stability.

Bangchak at the moment is selling other sorts of green energies: gasohol 91 and ethanol 20 as well. Mr. Anusorn assures the incoming distribution of E85 will not puncture entrepreneurs’ market share proportion of both fuel deals.

Meanwhile the Ministry of Energy has been gearing up the production of eco-friendly biogas for a while. It is also expected to make a splash in domestic markets soon. The ministry’s effort to unveil the gas intends to support the ministry’s alternative energy scheme, imposed in the ministry’s Energy Preservation Scheme as of 2008-2011. Director of Energy Policy and Planning Office under the Energy Ministry Weeraphon Chirapraditkul reveals the ministry has targeted 1.06 billion cubic meters of annual biogas production to compensate crude oil imports of 397,000 tons, worth 6.97 billion baht each year.

Biogas is yielded from biological decomposition of organic matter in the absence of oxygen. Its raw materials are easily retrieved from various sources such as swine breeding farms, tapioca flour factories, canned food factories, slaughter houses, and many more.

To effectively act on the idea, Mr. Weeraphon says it requires massive productivities from private sectors, and in this connection, entrepreneurs from two major groups including hotel industry and poultry-slaughter business are encouraged to have a hand in the program. Apart from both businesses, others that daily provide a large amount of food scraps and wastes are also welcomed. Moreover, eligible business owners will be granted access to financial supports from the Energy Preservation Promotion Fund as well.

Mr.Weeraphon reveals the targeted numbers of businesses joining the program are at 300 food and hotel sectors, which are to generate around 1.94 million cubic meters of biogas each year, and 5 chicken slaughter houses set to bear enough biogas to replace 3.25 million kilograms of LPG a year, helping save the Government 58.5 million baht.

Source : National News Bureau, Public Relations Department of Thailand

Related Stories

Tags: , , , ,

Posted in Thailand |