Chart : oil, coal and natural gas net imports

Energy again. The oil crisis is of course, and first, a price/cost crisis.

Thailand is a net importer (imports minus exports) of oil, coal and natural gas. And by large volumes.

In 2007, it (net) imported 580 000 barrels of oil per day… (source EIA, the US energy agency).

You start to understand… the huge bill… At 130 USD per barrel, that makes 75,4 millions USD per day… 2,2 billions per month… 27 billions per year !

And to this oil bill, we need to add the coal and natural gas bills…

On the first chart, consumption and net imports of oil (thousand barrels per day). We have a plateau for consumption, and the net imports are decreasing (because the country has managed to increase its exports).

That’s good, but still the figures are huge. The energy intensity of Thailand is just too high (look at my chart).

It’s the very weak point of the country.

On the second chart, net imports of coal and natural gas. Both are increasing non stop.

2 Responses to “Chart : oil, coal and natural gas net imports”

  1. 1 Loknar 10 June 2008 at 7:30 am


    all those financial articles are ‘interesting’. All of them are negative. I’m sure you’ve complained for years now. Are you surprised Thailand is not in ruins by now? Yes all these articles have but one flaw; they consider the government of a free economy, like Thailand, actually controls what’s going to happen.

    Of course, there is some truth in each of these reports. All those things have to be taken lightly.

    Any country capable of sitting on its oil/gas reserves while its importing should be admired (economically, not ecologically). The oil companies know, these reserves are gaining in value… daily.

    Thailand has a lot of natural gas. They promise to increase local output but.. why rush? It has nothing to do with governments or the country itself. Worldwide economy 101.

    Tired of the old newspaper stories “Thailand sucks and I’ve lived here 25 years!”? Why not complain about how energy markets are driven by speculation or how US legislation and lobbying are causing worldwide problems? This is what blogs are for. Not to copy stupid newspaper sellouts.

  2. 2 thaicrisis 10 June 2008 at 7:42 am

    Well, you can believe that all the datas are flawed, that the game is rigged anyway (and it is for large part)… however some indicators are good : trade balance, prices of oil/gasoline, exhange rates THB-USD, interest rates… I follow those.

    Obviously, you’ve just discovered my blog (which is up and running since only 1 year)…

    Take time to peruse the articles, and analyse my views.

    As for your idea about the oil production in Thailand (PTT is “hoarding” to benefit from higher prices tomorrow) this is laughable… Look at the datas, they increase production like crazy. The inflation is running high. Energy is the very weak point of Thailand (very poor energy efficiency).

    They suffer a lot from the oil imports. It’s a real political bomb. So much, that the subsidy temptation is very strong (PTT might loose 14 billions THB because of all the subsidies, direct or indirect, the gvt decided). So your thesis doesn’t hold.

    So if you still believe that everything is rozy, and that tomorrow will sing… fair enough. By keeping reading this blog, you might change your opinion.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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