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Thursday, November 11, 2004
Editorial: Economics of energy
Energy consumers should be alarmed at the potential rise in the cost of power in the next few months.
The steadily rising price of crude from the Middle East has reverberated throughout the world. Only the other day, a national daily headlined the impending increase in the national capital of the price per kilowatt-hour of power.
Energy is the lifeblood of our industries--the producers of basic commodities people need. Products of industries make and propel the country’s economy. Indeed, we are captives of our ever-increasing need for energy.
And this point may have escaped notice of the average citizen: that nations have become gravely dependent on the supply of energy and yet energy sources have not increased in keeping with the demand.
Alarms have been sounded that energy is fast dwindling as a result of man’s profligate ways. Timetables for economic development have been upset with the rising energy need and artificial shortage supply aimed at raising power rates and production cost of basic commodities.
Thus, there should be a deep sense of concern among our leaders on the perceived undue politicization in the use of energy. Nations with abundant sources of crude oil, for instance, use the same as political tool to promote their national interests to the detriment of the economies of consuming nations.
In the face of this reality, it behooves upon oil-consuming nations like the Philippines to find ways to cut down its power consumption or find alternative sources of energy to lessen or do away with their dependence on politicized producers of crude in the Middle East.
There is, however, conflict involved here that may have grave ramifications on the nation’s economy.
For when people cut down on the use of power, there could be a slowdown, too, in the purchase of electric appliances. Retrenchment among industries may follow.
With the loss of purchasing power of our people, how, then, could the country attain economic stability? These are concerns best addressed to President Arroyo and her economic planners.
Young role model
A 12-year-old Grade 6 pupil of Quezon City has shown that adversity is not a hindrance to achieving honors for herself and her country.
Reportedly refused help by government officials here and abroad and even robbed by another Filipina in Australia, Faye Nicole San Juan went on to win first place among 57 nations in an international science quiz contest.
One sad thing about her success, though, is that, but for her mother, no other countrymen witnessed her triumph. Worse, so she can get a temporary exit pass and plane tickets for home, a Japanese lady and the Japanese Embassy had to bail Faye out.
Why did our government fail here?
(November 11, 2004 issue)
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