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Choosing
well We expect a lot from those we choose to govern the public services that we need as we carry on with the tasks of raising our family, feeding ourselves and generally contributing to the overall productivity of the country. Today, let us bear in mind that whoever we choose must be able to lead and inspire those in government to deliver the appropriate governance, and those in the private sector to take part and contribute to our growing nation needs. Choose well. I will be away for a couple of weeks for my annual sabbatical leave. My commentaries on issues of the day will resume on the 24th of May. My television programs on IBC-13, in the meantime, continue with their airings. Please watch them. Energy Sector Issues On TV "‘Isyung Kalakalan at Iba Pa’ on IBC News (4:30 p.m. and 10:30 p.m., Monday to Friday) starts today discussions of issues plaguing the energy sector. The country continues to suffer from high electricity rates, effectively undermining our industries’ competitiveness. On the oil industry side, our continuing dependence on imported fuels makes the economy vulnerable to the pricing uncertainties of the crude oil market. What is the potential of indigenous alternative sources of energy such as solar, wind and geothermal? Can these sources reduce the country’s dependence on imported energy sources? Watch it. ‘Breaking Barriers’ With DOE Secretary Vince Perez ‘Breaking Barriers’ on IBC (11 p.m. every Wednesday) will feature Department of Energy Secretary Vince Perez on Wednesday, 12th May 2004. The bit of bad news in the energy sector is that increases in oil product prices will continue and no subsidy is forthcoming from the government. The consuming public has to shoulder the additional cost burden and will have to find ways and means to use these precious oil products more wisely. The good news is that the country is steadily reducing its dependence on imported crude oil and is closer to attaining energy self-sufficiency. Oil exploration and drilling activities are being aggressively pursued, use of geothermal energy is expanding, and several projects are on stream for developing alternative and renewable sources of energy such as solar and wind. The positive outlook of the Secretary of Energy has earned him the moniker, "Good News Vince." As we brace ourselves for the anticipated price increases in oil and electricity, we all fervently hope that all this "good news" will become reality sooner rather than later. Will Private Power Investors Bite Again? As a result of consumers’ outcry over the infamous Purchase Power Adjustment (PPA) charges, the independent power producers – who answered the call of the Ramos government to set up post-haste power plants to relieve the country of "brownouts" – became villains when the Arroyo government ordered a review of all IPP contracts. Apparently, almost all the IPP contracts have been re-negotiated and settled amicably. The DOE has announced savings of almost $1 billion in terms of reduced cost to the government, which hopefully will translate to good news for electricity users. The question in the mind of people, who are now beset with cost increases of most basic necessities, is in what form and when will these savings be passed on. We now need more of these private power investors in order to avert the power crisis rapidly developing in southern Philippines. Will these investors bite again? What assurance can the government provide that contracts being arranged now will not suffer the same fate as the contracts made during the power crisis of the Ramos government? Watch it. Should you wish to share any insights, write me at Link Edge, 4th Floor, 156 Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at reygamboa@linkedge.biz. If you wish to view the previous columns, you may visit my website at http://bizlinks.linkedge.biz.
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