Bangkok: In a recent House of Representatives meeting chaired by Speaker Sophon Saram, Pol. Col. Tawee Sodsong, a list MP from the Prachachart Party, proposed using excise tax revenue to support the oil fund. The suggestion aims to ensure energy security and promote the use of palm oil over underground oil reserves. Tawee also urged the government to reclaim electricity generation capacity from private entities through legal means.
According to Thai News Agency, Tawee addressed the ongoing oil price crisis, arguing that the government's perceived corruption and lack of public trust necessitate a reevaluation of the current system. He criticized the use of "windfall" fuel prices, which align with Singapore's oil pricing strategy, and suggested that windfall taxes should subsidize oil prices. To enhance energy security, he advocated for a shift towards palm oil, highlighting the limited use of B100 biodiesel in blending, and emphasized the importance of agricultural food security for domestic economic growth.
Regarding electricity production, Tawee pointed out that only 30% of electricity is domestically produced, with the remaining 70% outsourced to private companies. Despite low production costs and the availability of hydropower, he called for reclaiming production from private entities once contracts expire. He also revealed that the National Energy Policy Committee has been directing electricity from gas plants for chemical production rather than household use, which could lead to significant price reductions if redirected.
Tawee also addressed the issue of fertilizer dependency, noting that over 70% of Thai farmers rely on imported chemical fertilizers. He urged a national review to transform Thailand into an agricultural superpower. Additionally, he highlighted a public demand for debt restructuring, calling on the Bank of Thailand and the Ministry of Finance to address interest rate disparities and provide debtor assistance. He emphasized the need for the new government to study these matters to alleviate public hardship.