Asia faces rocky road in securing energy needs

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http://uk.reuters.com/article/2011/10/31/business-us-energy-summit-wrapup-idUKTRE79U2IO20111031

Reuters) - Governments in emerging Asian economies will struggle to secure their rising energy needs as rapidly swelling demand in leading consumers China and India outpaces growth in supplies, which is likely to keep oil prices over $100 a barrel.

High fuel costs for importers are threatening their economies as they grapple with rising subsidy bills and inflation.

The fuel burden, with oil imports costing around 5 percent of gross domestic product, is weighing on economic growth, said Richard Jones, deputy executive director of the International Energy Agency.

"It's particularly sensitive in emerging markets, India is a country that has got a particularly high oil burden, they import a lot," Jones said.