Singapores Energy Diplomacy Essay Example | Topics and Well Written Essays - 2500 words

Singapores Energy Diplomacy - Essay Example Being an economy with almost no natural resources, the country Singapore is more exposed to the threat of rising energy cost . This threat actually affects the national economy in a huge way. For that reason it is very crucial for the country to take necessary steps so that the energy efficiency is increased. In the month of October, 2002, at the Energy Forum, the Deputy Minister of Trade, Industry and Foreign Affairs of Singapore, Mr. Raymond Lim mentioned that the country would be projecting a three-phase response to combat the energy challenges . The first step, which was proposed by the deputy minister, stated that the industry base of the country should be strengthened by the up gradation and improvement of the oil-refining sector of the country . The first statement also focused on the development of the supporting functions for these oil refineries. The supporting components include promotion of e-business, proper supply-chain and logistic management, a development in the fiel d of information science and promotion of international oil trading. In his second recommendation the deputy minister stressed on the fact that for a country like Singapore, fighting against the energy crisis is important to develop a hub for alternative energy sources . The high-end alternative energy plans, which Mr. Lim proposed, were fuel cell technology and hydrogen economy. These technologies include test-bedding, manufacturing of the system for producing fuel cells and eventually marketing these products.The third and the final proposition focused on the liberalization and the improvement of energy efficiency of the country and also optimizing the usage of the un-renewable energy sources.