New Oil Shock Prompts Asian Governments to Intervene in Markets
Governments across Asia are intervening into fossil fuel markets to try and smooth over disruptions.
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I’m James Mayger, an economics and government reporter in Canberra. Today we’re looking at Asia’s energy scramble. Send us feedback and tips to ecodaily@bloomberg.net. And if you aren’t yet signed up to receive this newsletter, you can do so here.
The energy shocks of the 1970s forced Asian countries to pivot away from the Middle East as an energy supplier, with Japan and South Korea building up nuclear power and switching to seaborne liquefied natural gas to diversify.