| Unregistered |
09-08-2021 08:16 PM |
Quote:
Originally Posted by Unregistered
(Post 179665)
“Cant get out” isn’t dealt a problem if the pay is relatively good and people are happy staying there.
Why do you feel that the industry is not sustainable?
|
-environmentally
s://.straitstimes.com/singapore/environment/ipcc-report-indicates-singapore-could-take-bigger-hits-from-climate-change
- economically
There will be reduced demand for refined product like motor gasoline with increasing popularity of EV. Taxi companies are aiming to replace all their fleet with EV within next 5 years. There is an oversupply of chemical feedstock in the market where output of just one manufacturing site in another country outstrip the entire manufacturing output of our country. The technology employed in Singapore are relatively old, given that we started building our refinery industries back in the 80/90s, which means we are less energy efficient and utility is a huge operating cost in this industry. The only product that is likely to retain its demand is aviation fuel and perhaps lubricants
“Can’t get out” is going to be a huge problem if Singapore decide to pivot away from refining (e.g. EDB reduce tax subsidies) so the refinery industries decide to move to cheaper sites like Malaysia or India. supervisors/managers with 10-20years of experience will be screwed because no company is willing to pay 150k a year. Engineers or those on technical route might have it better but they will have to take a pay cut |
