Seminar on Economics of Thai Industries: Research Plan Petroleum industry Group Members: THITAREE THAKUR 5245825529 WIPASSORN TONGTAOW 5245894829 KRONGPRON CHATLAONG 5245810029 Introduction As the supply of oil has never reached the demand for oil worldwide, this fact has been making so many questions of its importance to the world. Whenever oil prices increase the price of many various goods tends to increase as well. The importance of oil has evolved overtime at a slow pace; however, it is now becoming one of the essential things in our lives. Recently, the demand for oil around the world has been growing steadily but at a sluggish rate, with a high growth rate in emerging countries yet a stagnant growth in developed countries. For Thailand’s economy, among all the energy consumed, oil and gas account for very large portion at around 70 percent of total energy consumption. Our consumption of oil is growing at 2.43 percent per year, has increased more than double from 1990 at 385,800Bpd to 2010 at
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