As the Philippines prepares for a potential economic crisis, retired Supreme Court Associate Justice Antonio Carpio has emphasized the need for the country to conduct its own oil exploration and development efforts. In a recent interview, Carpio highlighted the urgency of this issue, pointing out that the Malampaya gas field, which supplies a significant portion of the country’s energy needs, is running low. Without timely action, Carpio warned that the Philippines will face severe economic consequences, including increased reliance on imported oil and potential power outages.
Carpio, a vocal critic of China’s claims to the South China Sea, also praised the government’s decision to withdraw from the joint exploration deal with China in 2019. He noted that this move was necessary to protect the country’s sovereignty and prevent a constitutional crisis.
The retired justice’s call for self-reliance in oil exploration is timely, given the Philippines’ ongoing energy security challenges. As Carpio stressed, it is crucial for the government to prioritize domestic energy development to ensure the country’s economic stability and independence.