SINGAPORE – Wah lau, the International Energy Agency (IEA) just dropped some real talk. They say if we don’t want to go broke from energy prices, we better start changing our lifestyle before our wallets koyak (torn).
This one all because of the tension overseas since February—all the US, Israel, and Iran side fighting. Now, oil and gas prices spike like crazy, making everything from your Grab ride to your SP bill super ex. The IEA even had to release their “emergency stash” of oil just to try and steady the boat, but honestly, the market still very shaky.
Oil Price Jump Until No Road: Wallet Also Crying
Since the fight started, Brent crude price jump from around S$95 to S$163 per barrel. Natural gas price also double up. You know what this means? Logistics, transport, and even the electricity to power your aircon all confirm will become more expensive.
For us in Singapore, since we import everything, we are the ones feeling the pinch the most. The IEA say supply side they try to fix, but we on the demand side also must do our part. If not, the “pinch” will become a “punch.”
“Boss, Let Us WFH Lah!” – The New Survival Plan
One of the main “lobang” the IEA suggest to save money is for companies to let people Work-From-Home (WFH).
Think about it:
- No Commute, No Cry: Less driving, less petrol used. Even if you take MRT, the electricity to run the trains also cost money.
- Save on CBD Lunch: If stay home, can eat downstairs at the hawker center, no need to pay $15 for a salad in Raffles Place.
Besides WFH, they also suggest gahmen should lower highway speed limits by maybe 10km/h. Drive slower, save fuel. They also say if can don’t fly, then don’t fly—take train or stay put.
The IEA big boss, Fatih Birol, say these are the fastest ways to help people “tahan” (endure) the high costs. He say they already released the emergency oil stocks, but everyone—the gahmen, the bosses, and even us at home—must cooperate.
So, to all the Singapore bosses out there: if you want to help the country (and your employees’ mental health), maybe it’s time to open the WFH laptop again. Don’t say we bo jio (never invite/warn) you!