In very subtle ways, many prominent personalities are now becoming visible, so people can see them in action. Whether aspiring to political positions, seeking higher ones, or running for reelection in the next national elections, it is not difficult to discern whether they are. You only have to see the throng of media people who seem omnipresent at their public gatherings to ensure that they get maximum coverage, especially on social media. That is an excellent example of insensitivity.

Should our political leaders focus instead on building economic resilience amid the ongoing crises? When global crises hit, Filipinos feel it almost instantly at the gas pump, in food prices, and in the daily commute. With tensions in the Middle East pushing oil prices higher, the Philippines finds itself in that familiar bind. Political ambitions can become a distraction when urgent economic reforms are needed. International politics, yes, but not domestic politics. A good example is securing Iran's agreement to allow the safe passage of Philippine-flagged tankers through the Strait of Hormuz. Which our tireless DFA leaders recently did.

In reality, the Philippines does not have the luxury of opting out of this crisis because our economy is doubly leveraged toward the Middle East through oil imports and the millions of Overseas Filipino Workers (OFWs) there, making international politics a matter of domestic survival. When that region burns, our economy catches fire.

To many, the elephant in the room is the 1998 Downstream Oil Industry Deregulation Law (Republic Act 8479). It was meant for a world of stable supply and healthy competition. In the volatile world of 2026, its flaws are glaring. While deregulation was meant to encourage competition, it has left the government toothless in the face of supply shocks. The country’s dependence on imported fuel has once again exposed the vulnerabilities of its deregulated oil industry. Revisiting the law is no longer just an economic debate; it is a matter of national survival.

In theory, deregulation would allow market forces to determine fair prices. In practice, however, the Philippines has remained heavily dependent on imported oil, with little capacity to shield consumers from global price shocks. Unlike countries with strategic reserves or subsidy mechanisms, our citizens are fully exposed to the volatility of international markets. When oil prices spike, transport fares rise, food costs increase, and inflation erodes household purchasing power. The deregulated system has provided efficiency for oil companies but little protection for ordinary Filipinos.

Providing subsidies is a very much-needed move by the government. There are other mitigation strategies to learn from how our ASEAN neighbors are trying to mitigate the economic impact of the crisis. Some have figured out ways to soften the blow of global oil shocks, such as capping fuel prices, establishing a special oil fund to stabilize domestic prices, and drawing on government-owned reserves. These strategies are not perfect; subsidies can drain budgets, and reserves require investment—but they prove one thing: pure deregulation is not the only path. State intervention, when smartly designed, can make a huge difference.

So, what can we do to soften the economic impact? Revisiting the Oil Deregulation Law should be at the top of the list. It should bring back tools like strategic reserves and stabilization mechanisms. Protecting vulnerable sectors should receive special attention. Farmers, transport workers, and low-income families need targeted support. Subsidies can help cushion households and help them breathe.

A stronger push for renewables, such as solar, wind, and especially geothermal energy, which are abundant in the country. The less dependent we are on imported oil, the stronger we become. How about pushing for a shared oil reserve system among ASEAN member economies? That way, we can have collective bargaining with suppliers. Regional solidarity could amplify our negotiating power.

Revisiting oil deregulation is not without challenges. Subsidies can strain government finances, especially if global crises persist. Political resistance from private oil firms and vested interests may hinder reform. Implementation of reserves and renewable infrastructure requires time and investment. Yet these challenges pale in comparison to the risks of inaction. Without reform, the Philippines will remain at the mercy of global markets, and every oil shock will keep hitting us like a tidal wave, with households bearing the brunt.

The truth is, resilience takes foresight and investment. It is harder than playing politics, but it pays off when crises come knocking. Political optics and noise will always be part of our national life. But resilience is what keeps the nation standing when global storms hit. It is time our leaders chose resilience. At the end of the day, what matters most is not who wins the elections, but whether Filipino families can afford to live with dignity and security.

The author is an executive member of the National Innovation Council and lead convener of the Alliance for Technology Innovators for the Nation (ATIN). ([email protected])