spaced out phnoy

14 November 2011

asked at the APEC ceo summit what the aquino admin is doing to address the high cost of electricity in the philippines, the prez waxed euphoric about alternative sources:

There are substantial gas deposits—so enormous that they “dwarf” the Malampaya oil fields off Palawan—in disputed territories in the West Philippine Sea (South China Sea), President Benigno Aquino III said at the business leaders conference of the Asia-Pacific Economic Cooperation (Apec) forum. And by next year, the President said, a US firm would start operations in the gas-rich territory. 

which should tell us that he’s really doing nothing about the high cost of electricity hereabouts, except dreaming that china would stand aside while the u.s. starts operations in the spratlys that would give us indigenous sources of power.  fat chance.

ninez cacho olivares’ take on it, Spaced out at Apec,  makes me wonder what the prez might be smoking these days.  or maybe it’s just the erehwon vibes of the “house of dreams”.

6 Responses to spaced out phnoy

  1. November 14, 2011 at 5:09 pm

    angela, be careful with relying too much on ninez cacho olivares’ take, she has a penchant for eating her words, I think she’s going to eat them again this time.

    The Philippines will explore and extract oil and natural gas in Recto Bank and nothing the Chinese can do about it. That according to my crystal ball, and my crystal ball is very accurate, :).

    • November 14, 2011 at 5:14 pm

      hey bert: you think? time will tell. i won’t mind eating my words :)

      • November 14, 2011 at 6:25 pm

        not just yours. I think even ninez wouldn’t mind being proven wrong.

  2. November 15, 2011 at 2:33 am

    i dont get the issue angela. the news paper quote is:

    ““There is a new field that [will] be brought up or [started], I understand, by next year by an American company in the northern portion of the Philippines,” Mr. Aquino said.
    “There are substantial gas deposits that we believe are already in the proven scale at this point in time, that will dwarf the Malampaya oil fields. SOME [my emphasis] of them are in areas that are part of the contentious disputes as to sovereignty over the same,” he said.”

    so why is he spaced out?

    • November 15, 2011 at 12:23 pm

      bec it’s unrealistic to expect that china won’t contest ownership of that disputed territory

      • November 16, 2011 at 1:40 am

        my point is not all of the reserves are in the disputed area.

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