Supply disruptions from the Middle East are forcing Asia to put a greater focus on energy self-sufficiency.
Mitsubishi recently began operating a power plant in Vietnam that only sources coal from nearby countries, helping Hanoi — which gets 80% of its crude oil imports from Kuwait — reduce dependence on the Gulf. Indonesia’s president is using diplomacy and state visits to find “more options [and] more partners” in an attempt to rewrite the country’s energy playbook, The Diplomat wrote.
The rest of the world may soon follow suit: While Asia has been the hardest hit so far, the pain of resource scarcity could soon spread to other regions, The New York Times reported.
“You’ve seen tsunamis — they go across the ocean very, very fast,” an Atlantic Council expert said.
