Tuesday, March 13, 2012
Thailand Needs Cambodia to Unlock ‘Huge’ Gulf Gas Reserves
Cambodia and Thailand have overlapping claims in the Gulf of Thailand and Thailand claims to need the petroleum produced in that gulf in a major way. The two countries have had battles about land boundaries for years and the results of which have cost more than 20 people their lives in the past 4 years. The big push on Thailand's side is because they claim they currently only have 15 years worth of petroleum, and it will take at least 10 years to extract the petroleum in the Gulf of Thailand.
The petroleum is used in much more than just fueling automobiles. Thailand is responsible for nearly half the production of polyolefins, a polymer used in the manufacturing of appliances and automobile parts. Even though the relationship has often been full of hate between the two countries, they will have to put those issues aside and come to an agreement or the repercussions will be seen around the globe.
http://www.businessweek.com/news/2011-10-12/thailand-needs-cambodia-to-unlock-huge-gulf-gas-reserves.html
Dallen Shakespear
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Very interesting. Econ 110 is good for something. Competition COmpetition Competition. What a scary place in the world to be where so much of the market and GDP of the countries is based on fuel, a resource that seems to be difficult to find and exensive to retrieve. Gas, it's what makes the world go round. Gotta have it or we wond't go anywhere.
ReplyDeleteAshleigh Hefner