The Manila Times
MALACAÑANG on Sunday gave assurances the country’s energy security is steadily stabilizing despite the global oil crisis triggered by the war in the Middle East. In a statement, Executive Secretary Ralph Recto said the “synergy of public-private efforts,” spearheaded by President Ferdinand Marcos Jr., is now “bearing fruits that guarantee energy security” as the government addresses the effects “of a crisis not of its own making.” Recto cited, among others, the commitment of oil firms to provide a steady supply of oil and petroleum products despite the volatility in the international market. One such company is Petron Corp., which sourced its supply from both traditional and alternative sources. Last week, its procurement of more than 700,000 barrels of Russian crude oil was delivered. “Meanwhile, the oil diplomacy ably conducted by energy officials led by (Department of Energy) Secretary Sharon Garin has resulted in the firm order of 1.04 million barrels of diesel, with the first batch arriving this week. From Indonesia also comes the ironclad guarantee of a steady supply of coal. The news that new wells of Malampaya will go on stream by the last quarter of this year further boosts our energy security,” he said. “Believing that these gains will be sustained, we fully back the efforts of Petron, Seaoil, other oil companies, the DOE (Department of Energy), and PNOC (Philippine National Oil Company) to keep the supply lines flowing so the economy is powered up, the country running, and our lives minimally disrupted,” Recto said. He pointed to the recently signed Republic Act 12316 which grants the president the authority to suspend or reduce excise taxes on fuel as another mitigating measure to cushion the impact of skyrocketing pump prices. These initiatives, however, “will all be for naught” if not felt by the people, Recto said. Government assistance, such as fuel subsidies and discounted rides and toll fees, has been rolled out to ease the burden of vulnerable sectors. Around 250,000 public transport drivers — bus, jeepney, tricycle, and transport network vehicle service (TNVS) — have benefited from the financial aid. Farmers and fisherfolk will also receive assistance to prevent fuel costs from driving up food prices. The government’s vehicle fleet, except those used for public safety and health services, “has been put on a strict gas diet,” Recto said.
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