Self-sufficiency

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March 26, 2026 | 12:00am

The conflict currently unfolding in the Middle East has once again placed global energy markets on edge and the Philippines’ long-standing dependence on imported fuels made the country vulnerable to its impact.

President Marcos has declared a national energy emergency, citing imminent danger to fuel supply. Our 45-day reserve buffer underscores just how thin our margin of safety is. It also underscores how deeply exposed we remain.

To understand why, consider the degree to which global tensions distort our economic landscape. The Strait of Hormuz, which is responsible for carrying roughly 20 percent of the world’s oil supply, is at risk of continued disruption as the conflict escalates. The situation sent crude prices climbing and pulled the Philippine peso into a downward spiral. In recent weeks, the peso breached the 60-per-dollar mark multiple times.

When this happens, the ripple effects are felt: higher transport costs, increase in power generation charges, inflationary pressure on businesses and naturally, strain on household budgets. Economists from the De La Salle University warn that a sustained spike in prices could slow economic growth and weaken consumer spending, which is one of our economy’s strongest engines.

It is important, however, to emphasize that the impact of the Middle East conflict is not isolated to the Philippines. Across the region, governments – many of which are dependent on imported oil and gas – are rushing to ensure fuel supply and somehow shield their people from price shocks. Thailand, for instance, has instructed government offices to set air conditioner temperatures to 26°C for energy efficiency, while Vietnam is calling on its people to use public transport to save fuel.

Before declaring the energy emergency, our government implemented a series of stopgap measures: a four-day onsite workweek in government and some private companies (with Meralco aligning its operations accordingly), reduced fares on major train lines, discounted tolls for public utility vehicles (PUVs) and financial support for PUV drivers.

But from my humble point of view, the strategy with the greatest impact and one I have been advocating for, is self-sufficiency.

For far too long, self-sufficiency has been treated as an aspiration rather than an economic strategy. But the events of the last few weeks make one thing crystal clear: self-sufficiency is essential ­– not only for energy stability but for the nation’s long term development.

This starts with accelerating renewable energy development – not simply as an environmental commitment, but as protection against global uncertainty. Power generated locally is power priced locally and secured locally. Every additional megawatt of solar, wind, hydro or geothermal energy reduces our vulnerability to oil price shocks and strengthens the foundation of our economy.

We also cannot afford to remain passive participants in global energy markets. Expanding domestic exploration ­– whether for natural gas or other indigenous resources – reinforces our industrial base and sends a clear signal of confidence to investors.

Just as critical is the urgent modernization of our fragmented power grid. A fully interconnected, modern grid would enable greater renewable integration and unlock economic opportunities in regions that have long been underserved.

Finally, we must treat energy efficiency as a national priority. It cannot be seen as a household concern alone or a short-term response to crisis. It must be embedded in how businesses operate, how consumers make choices and how the country moves forward.

The Middle East conflict is beyond our control. But how we respond and how we use this situation to embrace positive change and prepare for the future is entirely within our hands.

The Philippines is known for its resilience, but resilience by itself is not enough. We must move beyond endurance toward deliberate and transformative action. Self-sufficiency is more than an energy strategy – it is a path to national development. And it is time we pursue it with purpose and urgency.