Senator Sherwin Gatchalian expressed grave concern on Thursday over the country’s dwindling fuel supply, admiting he felt “depressed” after oil executives warned that current stocks might only last until April or May.
Presiding over the Senate ad hoc crisis committee, “Proactive Response and Oversight for Timely and Effective Crisis Strategy,” Gatchalian reacted to testimonies from industry leaders about the impact of the Strait of Hormuz closure and regional export bans.
“When I heard the statements of oil companies, I felt a bit depressed,” Gatchalian said.
“What I wanted to hear, certainly, was that there is supply coming in. It’s quite concerning. You cannot run a country or a business with uncertainty of fuel supply,” he added.
The senator’s remarks followed warnings from Petron, Shell, and Chevron, that replenishing crude and finished products has become increasingly difficult as neighbors like Thailand and Singapore impose temporary export bans to protect their own domestic needs.
Gatchalian issued a stern challenge to the Department of Energy (DOE), telling the agency to act with a greater sense of urgency as the private sector struggles to secure petroleum from alternative sources.
“My message to the DOE: don’t sleep anymore, because [the oil companies] are already asking you for help,” Gatchalian said.
“We need to work double time here. If the oil companies are saying they are having a hard time, then it’s up to the government to move,” he added.
In response, DOE Undersecretary Felix William Fuentebella stated that the agency is currently monitoring the market for profiteers and hoarders.
He added that a crisis meeting is set for next Tuesday to discuss the “Unified Package for Livelihoods, Industry, Food, and Transport” (UPLIFT) and the emergency powers recently granted to the President.
