The Philippines is becoming the first nation to declare a national energy emergency amid turmoil in the Middle East.
President Ferdinand Marcos Jr. signed Executive Order No. 110, which enforces a year-long energy emergency.
The Philippines is one of the US closest allies in the Pacific.
Reasons for the Emergency Declaration
- President Ferdinand Marcos Jr. declared the emergency after the ongoing conflict disrupted global oil supply routes, creating serious risks for the country’s energy security.
- The situation has been worsened by disruptions in the Strait of Hormuz, one of the world’s most important oil shipping lanes, through which millions of barrels of crude oil are transported to Asia every day.
- Since the escalation of the Iran conflict, traffic through this route has been significantly affected, leading to uncertainty in global energy markets.
- As a major oil-importing nation, the Philippines is now facing a growing fuel crisis, with reserves estimated to last only around 45 days.
- Adding to the concern, there are fears of a shortage of aviation fuel, which could potentially disrupt air travel and ground flights in the coming days.
Source:BBC
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