Due to the "R" word, many companies in the US are finding other alternatives to meet thier projections. Asia is one of them.
Since we are in both ways affected by the USR, anything that we sell is discounted and our negotiators can not bargain. It is easy to bribe someone who is not financially fit.
The elders are right. Why explore underneath if the fertile soil above is already a God given treasure.
Look at the Palawan Oil, there is no way it solves our oil crisis. The financiers of the drilling projects, which are international companies will sell it to the country they want. Most probably to China. The Philippine Government tried their best to negotiate with this company that it will be sold to Philippines (PNOC). The price of that oil is only USD85/barrel compared to USD140/barrel in the Middle East.
As per my latest information, the oil will be sold by the drilling company and proceeds shall be 60% for the oil companies, 30% for the Philippine Government and 10% for the Contractors.
As above, kita pa ang nagpalimos sa oil companies nga nag drill ani.
So, makaingon ko nga walay diskarte ang atong mga leaders.
Personally, I can not tolerate the same administration to handle Benguet Mineral Exploration. Moreover, I can not tolerate the oil drilling in Cebu-Bohol strait to happen.
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