High oil prices in the Philippines partly offset by geothermal
Bonifacio Global City, Taguig City, Metro Manila, Philippines (source: flickr/ Roberto Verzo, creative commons)
Alexander Richter
10 Haz 2014
Geothermal energy production amounts for 17% of the total energy production, aiding the Philippines to reduce the high costs of oil.
In a recent article from Bloomberg, the new source compared countries all over the world relative to their gas prices. The Philippines has had significant GDP growth and oil prices have a considerable impact.
The country is the world’s second-biggest producer of geothermal energy after the U.S., according to the International Geothermal Association. The nation of 95 million people and 7,100 islands uses this natural source for about 17 percent of its energy needs.
The Philippines consumes a small fraction of the gasoline used by most other countries in the ranking.
To see the full ranking, please follow the link bellow:
Source: Bloomberg News Website
