Liquified natural gas (LNG)

Expert Voices

Increased competition threatens Singapore's oil-heavy economy

shipping vessels near port and oil refinery facilities
Vessels anchored near an oil refinery on Singapore's Jurong Island. Photo: Roslan Rahman/AFP/Getty Images

Singapore has for decades been a premier refinery hub and gatekeeper between Asia and the Middle East, but its position is increasingly threatened as more Gulf nations expand their processing capacity and petrochemical production.

Why it matters: Oil and petrochemicals drive about one quarter of Singapore's net exports. Greater competition in the global oil and gas value chain could take a heavy toll on the city-state’s national budget and economic growth prospects.

Natural gas is helping combat climate change — but not enough

Illustration of a tiny natural gas rig on top of a warming planet
Illustration: Sarah Grillo/Axios

Natural gas is to climate change what our mediocre exercise and diet regimes are to our health: far from perfect but better than nothing.

Why it matters: Natural gas, which is becoming the world’s dominant energy, emits half as much carbon dioxide as coal. That's why it's emerging as a good-enough-for-now solution to climate change. But since it’s a fossil fuel, it still produces heat-trapping emissions.