Rather than talking about subsidy to drivers and other oil users, the DOE should have focussed on
1. Setting up renewable source of energy.
2. Strategic stockpiles for fossil fuel
3. More oil exploration
We should not be in this situation where oil becomes expensive because we depend on foreign sellers had we hang on to Sabah which is the source of oil might of Malaysia. This post is happy that a foreign court is forcing Malaysia to pay rent to Sultan of Sulu and/or share oil revenues.
Maybe we do not have money to set storage facility/tank farm, or buy oil which was very cheap two years ago. China is always on the look out for sources of commodities like oil. It keeps on buying oil companies or maybe crude. It lends to LDC countries rich in oil production. We can do that now? Anyway we are on debt splurge?
Or the BSP can simply lend to the treasury and the country buys foreign exchange to buy oil at cheap
prices then?
