We cannot overestimate the importance of energy, especially as 96 percent of South Korea's energy supply comes from imports. As crude oil prices approach $150 per barrel, the government announced a series of energy conservation measures Sunday. The steps include compelling civil servants to refrain from diving their vehicles every other day from July 15.
It is timely to initiate the first of four stages of contingency plans, which were originally to take effect after oil prices exceed $150 per barrel. Last week, the price of Dubai crude, the main source of South Korea's oil imports, hit a record high of $140.70 per barrel, a two-fold increase from last year's average price. The government recognizes that the country has virtually entered a third oil shock.
Announcing the energy saving measures, Prime Minister Han Seung-soo said that the central and local governments and the public sector will take the lead in cushioning the oil shock. One of the steps is to make a 30-percent cut in the use of automobiles owned by the state, provincial and municipal authorities and public agencies. The measures also call for half of 15,300 public-owned vehicles to be replaced by smaller fuel-effective ones, or hybrid models alternatively using electricity and gasoline or diesel, by 2012.
The Lee Myung-bak administration is heading in the right direction for early activation of the energy conservation packages in order to head off the looming oil crisis. It seems to be only a matter of time before oil prices will enter the uncharted territory of $150 per barrel. If the prices continue their upward march, they might breach the $170-level by the end of this year. In this case, the government plans to set in motion the second stage of its contingency plans.
The government recommended the private sector take voluntary energy conservation steps. The voluntary action includes no driving of privately-owned vehicles once a week, expansion of car pools for commuters, early closing hours of entertainment facilities and refraining from lighting neon signs. However, policymakers will turn these recommendations into mandatory ones if oil sees further price hikes.
What's more important is that businesses and households should double their efforts to save energy because they account for approximately 96 percent of the nation's total energy consumption. Companies and households are required to follow minimum air-conditioning temperatures set at 26 degrees Celsius in summertime with maximum room temperatures not to exceed 20 degrees in wintertime. It is disappointing that the operation of private vehicles shows little sign of abating despite skyrocketing fuel prices.
South Korea is one of the world's top 10 energy-consuming countries. Furthermore, it is accused of low energy efficiency. That is, Koreans are wasting energy. Regrettably, the country has failed to take sufficient measures to boost the efficient use of energy since the first and second oil shock. First of all, it has to establish an energy-efficient economic structure so that the government, businesses and households can ride out the third oil shock.
Also, the country ought to concentrate on tapping renewable energy sources such as wind and solar power. It should spare no efforts to strengthen diplomacy to secure a stable energy supply. It is tim
Sumber :www.koreatimes.co.kr
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