Oil Prices Hit Hard On Asia’S Poor
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Title: Oil Prices Hit Hard On Asia’S Poor

Essay Details:

Subject: Business
Author: Catina B
Date: October 5, 2012
Level:
Grade: A
Length: 3 / 768

Essay text:

Today the price is approaching $90 a barrel. This has meant that the Asia and Pacific region has had to pay an additional bill of almost $400 billion for imports compared to the amount spent in 2003. This is 20 times the annual aid flow to the region,” said Hafiz Pasha, UNDP Regional Director for Asia and Pacific, at the launch of the report in Bangkok. “It has become a real issue for an otherwise fast-growing region to absorb this staggeringly large bill,” said Mr. Pasha. An alternative perspective was presented by H.E. Piyasvasti Amranand, Minister for Energy, Royal Government of Thailand at the launch...

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