National Fuel Reserve pushed

 

By Rose de la Cruz 

To shield the country from mad swings in fuel prices—a cartelized commodity abroad—Rep. Ciriaco Calalang of Kabayan partylist is proposing the creation of a national fuel reserve under the control of the Energy Regulatory Commission. 

“Our country needs a fuel reserve inventory similar in concept to the rice inventory of the National Food Authority” (even if NFA’s inventory function is largely a failure). 

The fuel reserve can be placed under the control of the Secretary of Energy or of the Energy Regulatory Commission. The reserve can be stocked with fuel bought when crude oil and fuel prices are low and the stocks can be released into the local market, either indirectly through the oil firms or directly to government-owned gas stations, when fuel prices rise. 

Gawin lang  mas maganda kaysa sa sistema ng NFA rice inventory ang mangyari sa DOE fuel reserve, para maging mabisa ang impact nito sa presyo ng gasolina, diesel, kerosene, at LPG sa merkado. Maraming henyo sa DOE at ERC. Tiwala akong kaya nilang balangkasin ang mga detalyeng magpapatupad ng fuel reserve ng bansa. 

He said this is one viable long-term solution to the Philippines’ vulnerability to increase in world oil prices “because we are an oil-importing country. Managing the fuel prices by injecting fuel bought at lower costs can tame or temper fuel price hikes,” he explained. 

A national fuel reserve would entail billions worth of investments in the infrastructure needed to store the fuel in Luzon, Visayas, and Mindanao. 

These investments will generate jobs. It can attract overseas Filipinos working in the oil fields of the Middle East to come back home to work at the fuel reserve and facilities. We just have to pay them at the same rates as in the Middle East. 

Kailangan na lang timplahin ng Department of Energy at ng ERC kung gaano karami ang fuel reserve supply na dapat naka-standby. Sila ang mas nakakaalam ng tamang timpla. Ang range malamang niyan ay mula 5 percent to 20 percent ng monthly fuel consumption needs ng ating bansa. 

Maaring isama ng NEDA sa long-term plans nila ang investment na kailangan para isama ang fuel reserve depots at government gas stations sa Build Build Build infrastructure programa ng pamahalaan, he said.  

Like us in Facebook

facebook like box joomla

Features

Latest News

BSP, IMF HOLD THE 1st REGIONAL DIALOGUE ON FINANCIAL STABILITY

                The Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) co-hosted the inaugural Regional... Read More...
Draft substitute bill raises ERC board from 5 to 7

    By Rose de la Cruz   A draft substitute bill in the House sees to reorganize the energy sector and increase the number of commissioners of the... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Stupid Name Giver and Other Laughs

Stupid Name Giver Late one night, a burglar broke into a house. While he was sneaking around he heard a voice say, "Jesús is watching you."  He... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...
IMAGE A DELICATE BALANCE

Photo courtesy of Top Gear Philippines Officials of motorcycle-sharing service company Angkas must be grinning all the way to the bank. After a... Read More...
IMAGE TULOY ANG LABAN SA DENGVAXIA

MABUTI naman at tuluyan ng nagpasiya ang pamahalaan na sampahan ng karampatang kaso ang mga sangkot sa kontrobersyal na Dengvaxia anti-dengue... Read More...

Our Guests

Today17
Yesterday783
This week3306
This month18615
Total1152885

Visitor Info

  • Your IP: 54.146.206.127

Who Is Online

21
Online

Thursday, 24 January 2019
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.