"Seen from domestic energy production and consumption aspect, the political turmoil in the Middle East has a potential to make our energy condition getting more critical, and therefore it must be seriously anticipated," chairman of the National Oil and Gas Companies` Association (Aspermigas) Effendi Siradjuddin said in a press statement here on Sunday.
The political turmoil that has triggered a skyrocketing crude oil prices of up to US$100 per barrel, is feared to affect the energy condition in Indonesia.
In the press statement Effendi reminded the Indonesian government to be seriously wary of a domino effect of political turmoil in the Middle East region following the global oil skyrocketing prices in the past month.
He said the fluctuation in world oil prices that has reached US$120 per barrel has fueled a rise in world oil consumption that was no longer linear with increased production.
According to Effendi, Indonesia at present was experiencing oil deficit of about 1 million barrels per day and it could increase by 3 million barrels per day in the next five years.
He said Indonesian production capacity is currently only 950,000 barrels per day while the consumption is 1.4 million barrels per day.
Therefore Effendi expressed hope that the government could take a firm political stance in dealing with this reality by, for instance, building immediately mass transportation and vehicle fuel conversion to gas or electricity on a large scale.
Effendi said that if the domino effect in the Middle East region continued, within months the energy crisis would affect many countries.
Quoting world economic expert Nouril Roubini in the World Economic Forum in Davos in Maret this year, Effendi said the world`s biggest threat at present was the high energy and food prices.
(Uu.O001/F001)
Editor: Priyambodo RH
Copyright © ANTARA 2011
