Ex-energy minister advises against tax subsidies for oil prices
Kudos , where kudos is due ...... :)
Ex-energy minister advises against tax subsidies for oil prices
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BANGKOK, Aug 16 (TNA) -- Former energy minister Piyasvasti Amaranand believes that oil prices can rise yet higher in the face of persisting high world demand and urges the government to spend taxes collected on developing public utilities or infrastructure rather than applying them to enable lower fuel prices.
Global crude oil prices have declined steadily to about US$113 per barrel, but its price could rebound because of the high demand in a number of countries, especially emerging economic giants China and India, Mr. Piyasvasti said.
As the US dollar has regained strength and the Organization of Petroleum Exporting Countries (OPEC) predicts world demand next year will decline to its lowest point since 2002, the light, sweet crude for September delivery slipped to US$113.77 on Friday on the New York Mercantile Exchange, its lowest price since May 2.
The current government has assisted the transport and other sectors through oil subsidies which are inappropriate, said Mr. Piyasvasti. Instead, he advises, the tax should be applied to public utilities or building basic infrastructure.
Global crude oil prices will not stay low for very long, Mr. Piyasvasti said, noting that its price would become "very volatile" by the end of the year.
Alternative energy sources should be developed now, he urged, so that motorists will have viable substitutes in the coming five to 10 years. (TNA)
enews.mcot.net
The Surayud Cabinet
Tue, October 24, 2006
Energy Minister: Piyasvasti Amranand
Energy Minister Piyasvasti Amaranand, 53, graduated in mathematics from Oxford University's Brasenose College in the UK
He attended the London School of Economics for his master's degree in economics and mathematical economics and a doctorate in economics.
Piyasvasti served as secretary general of the National Energy Policy Office from April 2001 to May 2002. However, he decided to quit the government to turn to the private sector.
Piyasvasti was a main critic who attacked the Thaksin's government energy policy, especially the policy to selectively subsidise certain businesses.
nationmultimedia.com
