By FRED M. LOBO
President Duterte has ordered concerned government agencies to look for other sources of oil to meet the country’s energy needs.
Mitigate the impact of the recent attacks on Saudi Arabia’s oil refineries, he ordered.
Presidential spokesman Salvador Panelo said the President issued his directive as the Department of Energy (DOE) proposed the creation of an oil contingency task force that would handle the worsening oil problem.
“The Office of the President will study it,” he said.
Energy Secretary Alfonso Cusi said that the country which is currently dependent on oil has to address the oil issue immediately.
“We have realized the importance of a minimum inventory requirement (MIR) which is equivalent to stocks of 30 days for oil refiners, 15 days for bulk marketers, and seven days for LPG players,” the DOE said.
As to the President’s order, Cusi said that the DOE is tapping new or additional oil sources even on a government-to -government basis.
New oil line or non-traditional sources will be tapped to ensure adequate supply at reasonable prices, he said.
The DOE issued the assurance as global oil prices rose more than 1 percent on doubts over how fast Saudi Arabia can bring back its full crude output after the attack earlier this month on Saudi Aramco, its largest oil processing facility.
Middle East tension raised Brent Crude futures to as much as $65.50 a barrel despite Saudi Arabia assurances, it noted.
The DOE added that Shell has announced an increase of P2.35 per liter of gasoline, P1.80 for diesel, and P1.75 for kerosene, and other oil firms such as PeroGazz, Seaoil, Total, Phoenix Petroleum, Chevron (for Caltex brand), Clean Fuel, and PTT Philippines have effected similar adjustments.
Oil prices are going up, up, and away and mitigation appears the remedy.
Director Rino Abad said the DOE is firming up plans to reconvene the Oil Contingency Task Force (OCTF), a move already lodged initially as a proposal to the Cabinet Assistance System (CAS) in Malacañang.
The revival of the OCTF through an executive order appears necessary, he said.
He added that contingency plans could mitigate “the impact of the geopolitical and disaster-related events that may cause supply disruptions or sharp volatility in the world oil prices.”
Where oil is concerned, let’s better be prepared for any eventuality.
Meanwhile, President Duterte has ordered the “unmasking” of “ninja cops” he welcomed a survey showing high public satisfaction with the government’s campaign against illegal drugs.
Disclose the names of policemen linked to the recycling of seized illegal drugs, The Punisher said.
Senator Christopher “Bong” said the President “ wants the public to know the policemen who are involved.”
“Ninja” cops’ days are numbered.
The President ordered the consolidation of the intelligence reports from the Philippine National Police (PNP), Philippine Drug Enforcement Agency (PDEA), and other concerned agencies as to the identities of the police officers tagged in the illegal drug recycling.
Former PNP Criminal Investigation and Detection Group Benjamin Magalong named some “ninja cops”in an executive session last week Magalong at the Senate.
16 names floated and are expected to “sink” soon, Malacanang Boys whispered.
Presidential spokesman Salvador Panelo said the people have spoken about the anti-drug campaign and felt the genuine change brought about by President Duterte’s leadership.
“We welcome the results of the latest survey conducted by the Social Weather Stations (SWS), which show that 82 percent of adult Filipinos are satisfied with the Duterte Administration’s campaign against illegal drugs,” he said.
“ We further note that this excellent satisfaction rating on the government’s campaign against prohibited narcotics remains unchanged from the pre-election survey taken last March 2019 on the aforesaid issue,” Panelo added.
“This is once again a loud and clear repudiation of the incorrigible opposition and vocal detractors of the President and his aqdministration who continue to spread lies and taint the reputation of the current government,” he said.
Panelo said the survey results refute countries “who unceasingly make an affront against our sovereign state by expressing their pretended concern but failing to consider the preference of the Filipino people in addressing the social problem.”