Lacson says using ‘homegrown’ energy resources best way to counter fuel price hikes (Sabong News)

Partido Reporma presidential candidate Senator Panfilo “Ping” Lacson said the government should “take a serious look” at its own resources as an alternative source of fuel as the price of oil continues to shoot up driven by the ongoing Ukraine-Russia conflict. In a press briefing on Saturday in Cavite, Lacson said that when push comes to shove amid the unrelenting surge of crude oil price due to the conflict, the Philippines may have no other recourse but to rely on local resources to stave off the costs of war on Philippine economic stability. Lacson expressed concerns over the announcement that oil is expected to be sold at $120 per barrel at the world market, thus push the prices of diesel and gasoline in the country further by P4.20 and P3.00 per liter respectively on Tuesday. “So, saan tayo pupulutin? So, kailangan mayroon tayong short-term, medium-term, at saka long-term (solutions). Sa akin, ‘yung pinaka-long-term, kailangan we should take a serious look at our own resources, ‘yung talagang homegrown resources (So, where do we go when that happens? That’s why we need to come up with short-term, medium-term and long-term solutions. To me, the long-term solution that we need is we should take a serious look at our own resources, the homegrown resources),” Lacson said during the press briefing. One energy resource the government has yet to maximize, he said, is the solar energy. As a tropical country, Lacson said the Philippines can take advantage of the heat of the sun to generate solar energy. Citing data from the Department of Energy (DOE) in 2020, Lacson said net imported oil covered 28.4 percent of the country’s total primary energy supply mix; 18.6 peercent was derived from net imported coal; 0.3 percent came from net imported ethanol; and 52.6 percent or majority were made up of indigenous resources. In a statement last Wednesday, the DOE assured that oil supply in the country remains sufficient, but domestic price spikes are certainly inevitable due to the upward global market movements driven by Russia’s invasion of Ukraine. Energy Secretary Alfonso Cusi said the government has short-term plans to address the impact of fuel price hikes like extending discounts to the public transport sector and implementing the P2.5-billion ‘Pantawid Pasada Program’ courtesy of the Land Transportation Franchising and Regulatory Board (LTFRB). There is also a P500-million fuel discount program intended for farmers and fisherfolk through the Department of Agriculture (DA). The DOE, likewise, vowed to strictly monitor activities to ensure sufficient supply of petroleum products and to uphold consumer welfare. Among the long-term measures outlined by the DOE is the suspension of the excise tax on fuel, the establishment of a necessary strategic petroleum reserve infrastructure, provision of intervention powers to the government during periods of oil price hikes, and a strong campaign towards energy efficiency and conservation. Lacson welcomed the DOE’s move following the recent directives of President Duterte, saying these reflect his earlier proposals to the government. “Dapat maging handa, ano. Unang-una, ‘yung step na tinake ni presidente, that’s a good step—proactive ‘yon e. He met with the defense personnel tapos economic managers pati ‘yung private sector. So, magbabalangkas sila ano ‘yung way forward kung mag-escalate pa at magtagal ang labanan (We should be ready, you know. First of all, on the steps taken by the President (Duterte), that’s a good step—it was a proactive approach. He met with the defense personnel and the economic managers plus the private sector. So, they will keep outlining a way forward in case (the conflict) escalates further and gets longer),” he stressed.