ON THE ENERGY SUMMIT: SEEKING MORE FOREIGN INVESTMENTS IN ENERGY SECTOR WON’T SOLVE ENERGY WOES

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PUBLISHED ON February 3, 2008 AT 11:55 AM

Independent think-tank IBON advised against using the ongoing energy summit in further promoting foreign investments in the energy sector, particularly in the burgeoning biofuels industry.

According to the Department of Energy the summit is a “listening and hearing out” session involving all stakeholders in the local energy sector in order to draft longer-term solutions to the country’s energy problems, such as high oil prices. But IBON research head Sonny Africa noted that the summit is being used to further promote foreign investment in alternative fuels, such as biofuels, as a solution to the current oil crisis.

This step, he said, would only intensify further foreign control over the local energy industry. In the oil industry, for instance, the exclusive control of the industry by oil transnational corporations is the reason behind high pump prices. “There must first be a recognition that the worsening global energy insecurity is because of this dominance,” he said.

There is no question about the necessity to develop alternative sources of energy in order to confront pressing issues such as high oil prices, he said. “But to effectively address these issues there is a need to radically change the framework that countries use to develop other renewable energy sources, including biofuels.”

This requires making governments the central players in the national exploration, development and utilization of alternative sources of energy if poor countries are to achieve energy security and independence. At present, most biofuels programs in the Third World are designed to rely heavily on foreign capital and technology, and external markets. Such programs thus end up merely creating more opportunities for First World TNCs exploit the natural resources of developing countries.

Energy independence can only be achieved if energy resources are effectively controlled and managed by the state, and not by corporate interests. Effective state control, for instance, would prevent the wanton conversion of agricultural lands for biofuels production and ensure that the rights of farmers to their land, as well as national food security, would not be compromised. (end 1/30/08)

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One Response to “ON THE ENERGY SUMMIT: SEEKING MORE FOREIGN INVESTMENTS IN ENERGY SECTOR WON’T SOLVE ENERGY WOES”

Ryan Ericson Canlas Says:
February 25th, 2008 at 1:16 am
For as long as there is still OIL supply in the market and from the OIL producers, there will be no ALTERNATIVE that is to be adapted, promoted and supported by both the consumers and the producers along with the government.

Although most industry leaders in Energy and PETROCHEM brags that they are into promoting alternative fuel sources aside from PETROLEUM, it is but very reasonable that they would really push for this not in this lifetime or not until the middle-east and other petroleum-producing countries run out of oil supply.

If we can only be like Denmark who has been independent on its fuel sources both petroleum, hydrothermal and wind energy because they have both the government and all industries uniting for a common goal – to be a self-sufficient nation topping the charts as both the less corrupt nation and the happiest place to live in, then all could have been well for us. This issue is nothing but a sales and marketing campaign leaving us no option but to agree with the entire oil price hike because it was already installed in our mind that we are running out of supply and we are left but with no option unless we want to go back to the caveman era.

This is purely ECONOMICS. If they put more options for consumers, demand would go down since there would be enough supply for other options other than OIL. Revenue would then fall and the government would also lament since the income generated from the Big Players in the OIL Industry is quite big for them to keep their extravagant lifestyles via corruption.

Sometimes, marketing works like psychology. For you to control the market, you need to make a demand and a reason to control the industry and your product. The industry leaders created a panic when they announced that there is scarcity in supply that in due time, OIL will be gone. So they call in for the nation to find alternative source of energy - a call that has been futile because at the end of the day, there is no support at all. The hysteria they created about this gave them the red carpet to control the Supply-Demand equation. Since there is less supply, there was more demand and people who are known as hoarders of scarce resources for profit made the issue worse.

With all these, we see sky-rocketing OIL prices causing all other utilities and commodities to follow. Electricity is one. So unless we put time on this initiative and an honest intention along with dedication - the call for an alternative fuel would be as futile as the call for a corrupt-free government.

RYAN ERICSON CANLAS
International SAP Basis Consultant
SAP Practice Manager

Freelance Business Solutions Developer
Entrepreneur-Educator
Creator of myPOS Retail Business Solution
ryanericsongcanlas@yahoo.com

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