Lacson backs joint oil exploration in WPS with ‘any country not necessarily China’ MANILA, Philippines — Presidential aspirant Senator Panfilo “Ping” Lacson reiterated his support for joint ventures with other countries in exploring and harnessing energy sources in the West Philippine Sea (WPS). However, Lacson clarified that the 60-40 formula in the Philippines’ Constitution should be strictly followed in these ventures. “I’m supportive of a joint exploration with any country, not necessarily China. We don’t have the wherewithal or technical expertise to explore oil,” said Lacson during an interview in Dumaguete City, Negros Oriental on Saturday. “Just imagine if we can harness such oil and natural gas resources, what it can do to the Philippines as a country economically,” Lacson added. According to Lacson, there are at least 200 billion barrels of oil in Area 72 in the West Philippine Sea, but the Philippines currently lacks the technical and financial resources to explore ene...
Comments
Post a Comment