Wednesday, June 4th, 2008
Discussing Oil Price Volatility in Asia
As high and volatile oil prices cast a shadow of uncertainty over the world economy, analysis and information on oil-price dynamics as well as instruments for risk management are in high demand among policymakers.
In response, the TDLC and World Bank Institute (WBI) collaborated to launch a timely new videoconference seminar “Oil Price Volatility, Economic Impacts and Risk Management in Asia”.
Taking the much publicized Global Finance Forum held in Washington D.C. in March where experts debated the implications of oil price volatility for economies worldwide, WBI and TDLC redesigned the content as a new blended learning program for the East Asia Pacific region. The TDLC took on the task of coordinating, marketing and tailoring contents to meet local needs, engaging the expertise of the Institute of Energy Economics, Japan (IEEJ); Dr. Ken Koyama, Director of IEEJ, joined the panel to enrich the discussion with his profound knowledge and insight.
Conducted on June 4, 2008 connecting Tokyo, Bangkok, Beijing, Jakarta, and Manila with Washington, the fee-based session was well attended in Tokyo by executives and managers from multinational firms including chemical and power companies, securities houses as well as representatives of JBIC. In Bangkok and Manila, senior government officials from energy and planning departments, central and commercial bank representatives took part in an intensive question and answer session. The audience numbered more than 100 in total. The session was moderated in Tokyo by WBI Senior Economist Yan Wang.
Designed to foster better understanding of the driving forces of oil-price volatility, their impact on the global economy, and price outlook in the next 15-20 years, as well as to raise awareness on policy options to mitigate the risks using financial market instruments, the full-day session began with a presentation by Dr. Ken Koyama, and George Washington University’s Dr. Robert Weiner connecting from Washington.
The audience also viewed pre-taped interviews with Guy Caruso, Administrator, US Energy Information Administration (EIA); Jim Burkhard, Managing Director, Cambridge Energy Research Associates; Yasser Mufti, Head of the Energy Outlook Group; Saudi Aramco Atchana W. Waiquamdee, Deputy Governor, Bank of Thailand. World Bank Jakarta Office Senior Economist Wolfgang Fengler discussed policy options for coping with price volatility.
For details about the program, see the oil seminar program page.
