SINGAPORE PERSPECTIVE

Channel News Asia publishes the most in-depth article of the pool: 20,000 characters that trace the history of oil shocks in Singapore since 1973. The parallel is explicit: in 1973, Singapore's growth fell from 11% to 4%, inflation from 2% to 22%. In 2008, oil touched $147 per barrel. In 2022, the Ukraine war pushed inflation to 6.1%. The article details Singapore's current resilience: diversification of sources over decades, strategic reserves, forward contracts. But CNA identifies the gaps: Singapore generates 95% of its electricity from natural gas, and LNG contracts are indexed to oil. Ride-hailing apps Tada and Gojek increase their surcharges to support drivers. The article concludes that Singapore 'holds for now' but must accelerate its energy transition in the long term. The tone is that of a technocrat taking inventory: no panic, no drama, but an honest accounting of vulnerabilities. Singapore is the only country in the pool to use the crisis as a lesson for the future rather than an emergency of the present.