|
|
|
Feb 3, 2007 Singapore Disputes 'Energy Guzzler' Label By Neo Hui Min& Liaw Wy-Cin Straits Times SINGAPORE'S per capita energy consumption is higher than the United States and double that of some European countries, but it may grow even further if the earth warms 1 to 2 deg C. A report by investment firm Lehman Brothers cited a chart listing Singapore's energy consumption per capita at about 11 tonnes per year, second among 21 countries on the list. The highest energy consumer on the list is Qatar, at about 21 tonnes per capita. The US logged about 7.5 tonnes; France, Japan, Germany and Britain posted about five or just under five tonnes each. The report said a slight increase in temperature could result in greater air-conditioning demands from some Asian countries, and this would in turn offset the decline in energy usage for heating by countries in the northern hemisphere. 'An element of this swing can be observed by how quarterly demand has moved in recent years,' the report said. 'As a higher proportion of demand growth comes from the non-OECD nations, we perceive a bigger uptick in second quarter demand with Asian air-conditioning requirements in part offsetting lower seasonal heating demand from the northern hemisphere.' The report, which looks at business opportunities and risks for 16 different sectors, concluded that global warming could be a threat to the oil industry. But with oil companies already moving ahead to find cleaner options to their products, they could ultimately prove to be 'part of the solution to global warming'. The Lehman Brothers report is no different from other findings over the years in noting that Singapore is one of the highest consumers of energy per person in the world. But some of these calculations of energy consumption have been criticised as skewed because they count marine bunkers and the sale of jet fuel to international airlines as part of a country's energy consumption. Singapore is the world's biggest bunkering port and has a large oil refinery industry. Responding to queries from The Straits Times yesterday, the National Environment Agency (NEA) referred to a different set of data and pointed out that Singapore's energy usage per person and carbon emissions were lower than many countries and were on a downward trend. The NEA cited International Energy Agency statistics for 2003 which showed that Singapore's carbon dioxide emission per person was 8.98 tonnes, lower than the US' 19.68 tonnes and Australia's 17.35 tonnes. Nonetheless, Singapore has undertaken significant efforts to reduce carbon emissions, said the NEA. Natural gas, which is less carbon intensive, now accounts for 80 per cent of power generation, compared to only 10 per cent in the 1990s, it said. 'The availability of natural gas has allowed power plants to adopt energy efficient combined cycle and cogeneration technologies,' it added. The oil sector is among many businesses which are already moving ahead in efforts to reduce carbon emissions. Petroleum company ExxonMobil said it had taken steps to mitigate greenhouse gas emissions by investing in new technology, for example. 'Climate change is also providing particular sectors with new opportunities,' said the Lehman Brothers report. The automobile industry, for example, is fast developing hybrid technologies, as well as alternative fuel possibilities. The utilities sector is in turn developing a diverse range of generating capacities, while the oil and gas sector is looking at renewables, and the chemicals industry is producing energy-efficient products. The pharmaceutical and healthcare sectors may also thrive as a result of climate change, albeit on a more negative note for mankind, the Lehman Brothers report said. It noted: 'Vector-borne diseases, such as dengue and cholera, may increase or become prevalent in areas where they had previously been eradicated. 'Rural and urban regions have experienced an increase in the number and intensity of heat waves over the past decade. 'However, while human health may suffer from climate change, health-care companies may improve their financial situation as a result of an increase in demand for their products.' The report pointed out that climate change was likely to act like globalisation - a 'slow, but powerful and inexorable force that progressively changes relative prices, relative costs, structures of demand and hence the structure of production'. It added: 'The pace of a firm's adaptation to climate change is likely to prove to be another of the forces that will influence whether, over the next several years, any given firm survives and prospers, or withers and likely dies.' -------------------------------------------------------------------------------- Copyright © 2007 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access |