Senate President Pro Tempore Ping Lacson Speaks on Possible PH-China Joint Oil, Gas Exploration
PING LACSON – The Senate President Pro Tempore expressed his support on the Philippines participating on a joint oil and gas exploration with China.
The long-standing territorial dispute between the Philippines and China is no secret not only to the Filipino people but as well as several other countries across the globe. Despite the Arbitral Tribunal siding with PH over the dispute on the West Philippine Sea, the Chine government remains to assert its claims.
China previously spoke on resolving territorial dispute with the Philippines. According to Chinese Ambassador to the Philippines Jing Quan, if they wanted a fight, they could have already done it before. He stressed that “no one wants to fight”.
“We want to achieve something, declare that’s our diplomatic achievement, and we want to finish. Work hard, meet each other halfway,” Quan said.
Currently, the Philippines is struggling with high oil costs in the country which resulted to a series of increase in pump prices. The oil price hikes has brought the price of diesel to P140 per liter and it is expected to hit P170 per liter on Tuesday.
The soaring fuel prices in the Philippines is an affect of the war in the Middle East. After the United States and Israel launched joint airstrikes against Iran which killed many Iranians including their Supreme Leader, Ayatollah Ali Khamenei, Tehran imposed restrictions on the Strait of Hormuz.
The Strait of Hormuz plays an important part in the global oil shipments. Recently, amid the soaring fuel costs in the Philippines, Senate President Pro Tempore Ping Lacson spoke his side on the possible joint energy ventures between the Philippines and China.
Sen. Ping Lacson admitted that he supports the idea of the Philippines having joint oil and gas explorations with China. However, based on News5, he also stressed that certain conditions must be clear.
Senate President Pro Tempore Ping Lacson stressed that the Philippines will allegedly profit from joint oil and gas explorations with China, thus, he is supporting it. However, he also stressed that the “60-40” sharing must be clear.
“Four-square behind, sinusuportahan ko. Kasi sayang eh. Yayaman tayo doon… Ang mahalaga lang sa atin… maliwanag, emphasized doon, 60-40. ‘Pag pumayag ang China, panalo na tayo dahil ibig sabihin nire-recognize nila ang sovereignty ng Pilipinas sa West Philippine Sea,” Lacson said based on the post.
Amid the high fuel costs in the Philippines, Pres. Ferdinand Marcos Jr. ordered the Department of Foreign Affairs (DFA) to ask Iran to allow the oil shipments bound for the Philippines to pass the Strait of Hormuz safely — which Iran agreed with. However, recently, the Department of Energy or DOE claimed that the Filipinos should not expect immediate relief on fuel prices despite the Hormuz passage.
