Presidential aspirant Senator Panfilo “Ping” Lacson reiterated his support for a joint venture with other countries in exploring and harnessing energy sources in the West Philippine Sea, so long as the 60-40 formula in the Philppine’s Constitution is followed.

“I’m supportive of a joint exploration with any country, not necessarily China. We don’t have the wherewithal or technical expertise to explore oil," the Partido Reporma’s standard-bearer in the upcoming May 2022 elections said during an interview in Dumaguete City, Negros Oriental.

“Just imagine if we can harness such oil and natural gas resources, what it can do to the Philippines as a country economically,” Lacson stressed.

The senator stressed the Philippines lacks the technical and financial resources to explore energy resources in the WPS on its own even if these are within the country’s maritime territory.

What is important, Lacson said, is that the partner country will adhere to the Philippine Constitution’s 60-40 provision.

Under Sec. 2, Art. XII of the 1987 Constitution, the State “may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens.”

Lacson maintained the country’s foreign policy must remain anchored “on our own national interest, but directed at strengthening our alliances with equally powerful countries like China."

The senator lamented that China's bullying in the contested maritime area has resulted in a triple whammy affecting the nation’s national security, food security and economic security.

He earlier said that should China refuse to agree to follow the Philippine’s 60-40 rule, the Philippines can turn to its other allies, like Australia, Japan and even the European Union, and other countries that it has bilateral agreements with.