A lack of investment in the fuel sector might affect the local market negatively, according to an energy expert. Amer Shoubaki, an energy expert, raised concerns about an impending global energy crisis. “The crisis is on the horizon due to insufficient global investments in the oil and gas industries,” Shobaki told The Jordan Times.
If this crisis materialises, it could have a profound impact on Jordan, a nation heavily reliant on fuel imports, Shoubaki said. Jordan imports virtually all of its petrol and 96 per cent of its gas needs.
He said that “the crisis is currently brewing and could manifest at any moment”. This is exacerbated by the existing investment gap, with no substantial investments to meet the rising energy demand. As a result, there is a continuous decline in surplus energy reserves, further exacerbating the problem.