Sekutrem

They're right for Japan, Korea, and Singapore. Those guys source 75% of refined products from the Persian Gulf. Hormuz closes, they bleed. But Indonesia is a different story entirely. Yes, Indonesia imports refined products. Pertamina's refining capacity doesn't fully cover domestic demand, so Pertalite and Solar get bridged through imports. The Hormuz shock hits that. Real exposure. What makes Indonesia different is this. Indonesia's actual risk from this isn't supply. It's fiscal. If oil prices spike because Hormuz stays closed, the government's subsidy bill for Pertalite and Solar expands. Wider deficit, rupiah pressure. That's the bear case for Indonesia, and even that's manageable. The bull case is what nobody is talking about. Indonesia runs B40 right now. 40% of every liter of diesel consumed domestically is palm oil biodiesel, not petroleum. When oil spikes, the incentive to push toward B50 or B55 gets stronger overnight. Import volume drops. Indonesia self-hedges using its own CPO supply. No other country in Asia has this. Not Korea, not Japan, not Singapore. Then there's coal. When Hormuz disrupts LNG and oil flows into Asia, the fastest lever available to power generators in Japan, Korea, and India is gas to coal switching. Indonesia is the world's largest seaborne thermal coal exporter. ADARO, ITMG, PTBA, BUMI don't suffer from this scenario. Export volumes go up. Realized prices go up. Royalty revenue to the government goes up. Same logic on LNG. Indonesia exports from Bontang and Tangguh. When Middle Eastern supply gets disrupted, the spot premium on non Gulf LNG widens. Indonesian cargoes price up. Same logic on CPO. High oil equals strong biodiesel demand globally equals strong CPO prices. Indonesia and Malaysia control 85% of global supply. You see, Indonesia pays more for refined product imports. Fiscal subsidy pressure rises. Rupiah is a watch item. Those are real negatives. But Indonesia earns more on coal exports, earns more on LNG spot, earns more on CPO, and reduces net petroleum import volume through accelerated biodiesel blending. The terms of trade move in Indonesia's favor, not against it. The conventional take is "Indonesia is a net oil importer so oil shock is bad." The correct take is Indonesia is a net energy exporter in the commodities that directly substitute for disrupted Persian Gulf supply. A sustained Hormuz closure improves Indonesia's aggregate energy trade position, not deteriorates it. Happy Sunday and Happy Easter.

LOHHH MASS!!?!? KENAPA MINTA BINTANGG 3??? jujur janggall pertama kali driver shopfdd minta bintang 3😭😭

Masih belum bisa memaafkan Pemkot Solo. Ngusir taman bermain satu satunya di Solo cuma buat bikin masjid gede mangkrak Taman sriwedari yang ada rusanya itu dulu tempat pementasan sama taman bermain (mirip dufan). Ada pendopo gede, monorel, roller coaster, kolam renang, dll

Kedoknya bersepeda ke kantor tapi lupa mengantongi kunci mobilnya....🤣

Hadewh, pas kompss 😑 Tau ga sih bhw hari gini tuh dah hadir layanan bantu cek dan ricek cepat lewat aplikasi akal imitasi?

Cita-citaku bikin kos-kosan. Kalau udah jalan depannya buka toko kelontong, setelah itu kalau udah ada modal, diriin laundry deket kos-kosanku, setelah itu buka kopian konsep warkop 24 jam yg semua kalangan bisa duduk untuk ngopi santai dan internetan. Bismillah semoga bisa, ntah kapan itu.

Çocukların evde neler yaparak başlarını belaya sokabileceklerine, inanamazsınız..🤦🏻‍♂️

Waktu itu, setiap daerah ditanya mau menyumbangkan apa untuk TMII? Gubernur Jawa Timur Soenandar Prijosoedarmo menjanjikan akan memberi hadiah pohon sonokeling dari Banyuwangi untuk TMII. Namun, hingga Soenandar diganti dan meninggal, janji itu belum terlaksana. Akhirnya, bupati Banyuwangi kemudian menghadiahkan sawo kecik berumur 200 tahun dari Taman Nasional Baluran yang dikenal sebagai hutan Alas Purwo. Panjangnya sekitar 14 meter, diameter batang 152 cm, dan akarnya bergaris tengah sekitar 6 meter. Pohon itu dikenal sebagai pohon nomor 110. Pohon sawo kecik itu diminta khusus oleh Ibu Tien Soeharto untuk diukir fragmen Rama Tambak dari kisah Ramayana. Batang sawo kecik berukir itu bisa disaksikan di Museum Purna Bhakti Pertiwi di kompleks TMII. 📷Gunawan Kartapranata/Wikimedia Commons