President Arroyo yesterday called on Japan and South Korea to venture on energy cooperation with the Association of Southeast Asian Nations (ASEAN), particularly in setting up a regional stockpile of ethanol fuel, to counter the threat posed by fluctuations in world oil prices...By the way, last time I checked, the Philippines didn't have a large stockpile of oil for emergencies.
...The President also encouraged Japan and South Korea to join cooperative efforts to intensify oil and gas exploration in the disputed China Sea similar to the joint seismic cooperation among the Philippines, Vietnam and China in the South China Sea.
"We should be able to work effectively to secure energy resources for our region," she said in her remarks during the summit here as she emphasized the need to mitigate the effects of the rising oil prices on peoples and economies.
Mrs. Arroyo suggested that ASEAN, with the help of its dialogue partners, immediately embark on reviewing arrangements for a regional hub/exchange for ethanol fuel to ensure a steady supply of fuel for the region in case of an oil shortage or disruption.
Arroyo offered the use of the Subic Bay Terminal Freeport as the site for the planned oil hub in the region. She noted that Japan has already assisted the Philippines and Thailand in making feasibility studies on oil stockpiling.
She also urged ASEAN, Japan and Korea to pursue investments on energy infrastructure and the development of "promising" alternative and indigenous energy sources available in East Asia such as ethanol, coco-diesel, wind and solar energy.
She said they could invest collectively in ethanol plants in Southeast Asia’s sugar-producing regions as well as in the production of diesel oil from coconuts available in the Philippines and Indonesia.
Arroyo noted that Korea has invested heavily in electric power plants in the Philippines and contributed to the electrification in the countryside.
The President, meantime, urged Japan and Korea to follow the model of the Philippines, Vietnam and China currently conducting oil and exploration in the disputed waters of the South China Sea in resolving their bitter claims over China Sea
Tuesday, December 13, 2005
Interesting idea from President Arroyo of the Philippines set out briefly here: