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Monday, April 24, 2006
Arroyo seeks cushion on oil price hikes
MANILA -- President Gloria Macapagal-Arroyo ordered officials Sunday to take steps to ease the impact of soaring world oil prices, which she warned could set back economic gains and hurt the public with higher commodity prices.
Arroyo said she has ordered her entire Cabinet and the Department of Energy to intensify the search for alternative energy sources, study possible tariff reduction on petroleum products, and carry out an aggressive energy conservation campaign. She called on the public to cooperate.
“I call upon our people to unite and take stock of the inescapable global trend of oil price hikes that lies beyond the control of the government,” Arroyo said in statement.
“National teamwork is needed to avert the pain inflicted upon the average Filipino by the upward pressure on the prices of basic commodities and services,” she said.
“This issue has hounded nations all over the world–rich and poor alike–and we must not allow it to set back the momentum of our economic gains,” she said.
Oil prices touched a new record above US$73 a barrel Friday amid concern about Iran’s nuclear ambitions.
The Philippines, which imports nearly all its petroleum, has been trying to lessen its dependence on oil by trying to tap alternative energy sources such as local plant oil that could be used for cooking.
In August, Arroyo ordered government bodies to ration fuel, save at least 10 percent on power and fuel costs, and switch from gas-guzzling vehicles.
The looming oil crisis comes at a time when she continues to grapple with a months-long political impasse which started last year when corruption and vote-rigging allegations emerged and opposition groups demanded her resignation. (AP)
(April 24, 2006 issue)
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