Palace: PH energy security strengthening amid global oil crisis
The Philippines’ energy security is strengthening despite global oil volatility, as government and private sector efforts begin to stabilize supply, Executive Secretary Ralph Recto said.
In a statement, Recto said a “synergy of public-private efforts” ordered by President Marcos is now “bearing fruits” amid a crisis “not of our own making.”
He noted that oil firms have assured the government of a steady supply despite global uncertainty. He cited Petron’s commitment to secure both traditional and alternative fuel sources, as well as the arrival of Russian oil shipments.
The government’s “oil diplomacy” has also resulted in the firm order of 1.04 million barrels of diesel, with the first batch expected this week.
Indonesia has likewise guaranteed a steady supply of coal, further boosting the country’s energy reserves.
Recto also pointed to developments in the Malampaya gas field, with new wells expected to come online by the last quarter of the year. He said this will further strengthen the country’s long-term energy security.
He added that the recently enacted law allowing the President to suspend or reduce excise taxes on petroleum products provides an additional tool to address rising fuel prices.
Subsidies to cushion impact
Despite gains in supply, Recto stressed that relief must be felt by the public.
Fuel discount programs are being expanded to around 250,000 public transport drivers.
Farmers and fisherfolk are also set to receive assistance to prevent fuel costs from driving up food prices.
Energy-saving drive intensified
The government is also implementing demand-side measures through a nationwide energy conservation program.
Recto said energy monitors have already inspected over 1,000 government offices to ensure compliance with reduced electricity use.
Government vehicles, except those used for emergency and essential services, have also been placed on a “strict gas diet.”
“The most valuable watt of electricity, or liter of gas, is the one not consumed,” Recto said.
Leaner gov’t operations
The shift to energy efficiency extends to major government events, including the upcoming Association of Southeast Asian Nations (ASEAN) Summit.
Recto said activities have been streamlined, with less emphasis on “pomp and pageantry” and more on problem-solving.
Private sector, LGUs commended
The Executive Secretary also lauded businesses that have deferred price increases and local governments that have rolled out free ride programs.
He cited initiatives in Manila and Quezon City as examples of “damayan” or collective action to ease the burden on commuters.
“United, we shall overcome,” Recto said, as he urged continued cooperation to navigate the ongoing global energy crisis.