The Sulu Sea: How Subsidized Fuel Is Powering Southeast Asia’s Grey-Zone Economy
The Sulu Sea: How Subsidized Fuel Is Powering Southeast Asia’s Grey-Zone Economy The Core Transaction Start with the math. Everything else flows from it. In Malaysia’s Sabah state, fishermen can legally buy subsidized diesel for 2.10 ringgit per liter—about 53 U.S. cents. Now cross the Sulu Sea. In the southern Philippines, the same fuel sells…