Economics Readings Site By Colin Ong

This blog has been created to provide an area for economics students to read about how economics impacts daily life. It is especially useful for students to understand the application of macroeconomics as communicated through the media and governmental websites.

This online resource has been set up for educational purposes.All rights are reserved by the various websites.

For further clarification, please email colin@mrmc.com.sg

Number of CNG cars up 10 times

High oil prices drove up car sales last year but demand may dip as pump prices drop.

Thu, Feb 05, 2009
The Straits Times

By Christopher Tan, Senior Correspondent

COMPRESSED natural gas (CNG) vehicle sales had a boom year, as soaring petrol prices in the first half of 2008 pushed more people towards alternatives.

But industry observers said interest may be waning, as pump prices have since softened.

By the end of last year, there were 2,444 cars which can run on CNG, 10 times the population in 2007. Taxis which run on CNG proliferated too, with their numbers rising by more than four times to 977 units.

Think of the potential negative extrernalities of having more CNG vehicles

How should the government react?