High energy costs still haunt PH, Southeast Asia neighbors

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MANILA, Philippines — Households in the Philippines and in neighboring countries continue to face significant pressure from elevated energy costs, the International Energy Agency (IEA) said in its latest Southeast Asia Energy Outlook.

The IEA said Southeast Asia is a critical driver of global energy trends with the region’s growth in demand projected to hit 20 percent to 25 percent of global energy through 2035, because of rapid economic expansion, industrialization and rising living standards.

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But it identified significant vulnerabilities in the region’s energy security, noting a heavy reliance on fossil fuel imports, with the Middle East supplying 60 percent of crude oil.FEATURED STORIES