The Singapore Green Plan 2030 touches on the schemes and incentives put in place to move towards a greener Singapore in the coming years. In Budget 2021, an increase in petrol duties of 10 to 15 cents per litre was announced. There is also a drive to phase out petrol cars and move towards an electric car model. Singapore’s petrochemical sector has always been one of the cornerstones of the Singapore economy. Will it remain one, or will the sector become less important? Will crude oil storage facilities be moved out of the country? In the rush to go in a greener direction, Singapore should not compromise its status as one of the world’s leading petrochemical hubs. Citizens cannot be asked to pay more for petrol even as foreign investment into the petrochemical sector continues to be encouraged.... Continue Reading