Editor’s note: Outlook is CNN's in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.
Singapore (CNN) – Singapore’s strategic position at the mouth of the Strait of Malacca – one of the world’s critical energy chokepoints – has always meant the resource-poor city state has occupied a special place in the world of geopolitics.
Almost all of East Asia’s oil supplies must pass through the narrow shipping strait making Singapore one of the world’s busiest ports, but also vulnerable to shifts in the region’s energy mix.
The recent unrest in the Middle East – which has some analysts saying that $100 per barrel is likely to be the default benchmark oil price for some time to come - has demonstrated to Singapore that its energy security hinges on reducing its exposure to price and supply risks. FULL POST
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