The crude oil price is all time low. It is a golden opportunity for an energy deficit country like ours. We must import and store excess amount of crude as buffer stock to meet future demands. This is the best investment for our forex reserves.
We import 80% of our oil and this bill is almost half of our forex reserves. With buffer storage, we can insure against a future price rise. This simple step can not only ensure energy security but also economic security.
We import 80% of our oil and this bill is almost half of our forex reserves. With buffer storage, we can insure against a future price rise. This simple step can not only ensure energy security but also economic security.
I hope some one in the government is already working on it.
