The monetary value of our marine ecosystems in 2007 was thought to be US$966.59 billion, or close to $1 trillion. Using the 2007 exchange rate, that’s P44.61 trillion or nearly 6.5 times our GDP back then.The WPS is also said to be vastly rich in oil and natural gas. Again based on Kaplan’s book, Asia’s Cauldron 7 billion barrels of oil and 900 trillion cubic feet of natural gas proven to lie beneath the WPS. Some estimates even go as high as 130 billion barrels of oil. If true, said Kaplan, that would make the WPS second only to Saudi Arabia in terms of oil reserves. The WPS might even be called “the second Persian Gulf.” Justice Carpio, in his seminal e-book , adds the West Philippine Sea is also potentially rich in methanol – an alternative biofuel – which “can fuel China’s economy for 130 years.” Even a small portion of these resources could go a long way to ensure the Philippines’ energy security in the coming decades. 4) Territories And then, of course, we risk ceding to China vast swathes of our national territory. By Justice Carpio’s reckoning – and based on China’s dubious nine-dash line – China aims to grab from us a total of 531,000 sq km of maritime space. That’s 77% larger than the Philippines’ total land area. More precisely, it encompasses 80% of our Exclusive Economic Zone, including the whole of Recto Bank and part of the Malampaya gas field. At the same time, China is encroaching on all of our extended continental shelf. Beware unfair deals Notwithstanding the imprecise and incomplete estimates, it’s clear (and intuitive) that the total value of our marine resources exceed our nation’s income many times over. In the end, though, putting a price tag on the WPS might not be all that important. Much more crucial is how we assert our sovereign rights as spelled out by our Constitution and the 2016 arbitral tribunal ruling. In his current trip to Beijing, Duterte will reportedly raise a prospective 60-40 oil and gas exploration deal . This follows a related memorandum of understanding signed between Manila and Beijing in November. But for the sake of current and future Filipinos, Duterte should be wary of entering such deals. With everything that has been illegally taken from us, it’s clear by now Beijing is no trustworthy “friend.” Why strike a deal with a serial bully, robber, and land-grabber? – Rappler.com The author is a PhD candidate at the UP School of Economics. His views are independent of the views of his affiliations. Follow JC on Twitter ( Read more: Rappler
I just had the same idea!
Duterte considers setting aside The Hague Ruling for economic gainsPresident Duterte expressed that setting aside the 2016 The Hague Ruling on the South China Sea could mean more economic gains for the Philippines. I think he is referring to economic gains of China, definitely not the Philippines. Think he did that already ... like ever since he became President !!! Because he was to gutless to uphold it & he’s pockets just keep get loaded with Chinese payouts 💰💰💰
Tropical depression outside PAR slightly intensifies, moving eastMANILA, Philippines — The tropical depression spotted outside the Philippine Area of Responsibility (PAR) has slightly intensified and is moving east, the state weather bureau said
Locsin: Chinese ships passing PH waters sans permission angers DutertePresident Rodrigo Duterte was “really angry” about Chinese warships passing through the Philippine waters without any permission, Foreign Affairs Secretary Teodoro Locsin Jr. said. | CGonzalesINQ CGonzalesINQ Shut up Locsin CGonzalesINQ Galit si Duterte pag mag nagbabalitang may dumaang barko ng China sa teritoryo natin... -- Secret daw kase yun. CGonzalesINQ You mean elated right?
PH military to allow Chinese-backed 3rd telco to build in campsMANILA, Philippines — The Armed Forces of the Philippines (AFP) has entered into an agreement that would allow the country’s third major telecommunications player, which is partly backed by FMangosingINQ Putang ina mo Duterte. Foreigner na nga sa Military Base pa. FMangosingINQ Sino namang mga ogag ang bibili ng telepono nila? Ay, may mga uto-utong kaDeDeS nga pala! FMangosingINQ Mga traydor din sa mga espiya ng Tsina
PCSO lifts STL ban in SiquijorCEBU CITY, Philippines -- Philippine Charity Sweepstakes Office (PCSO) has added Siquijor province among the areas in Central Visayas that have been allowed to resume the operation of Small Town
DA: African swine fever in PH; pork safeBANNER STORY: The Department of Agriculture confirmed the presence of African swine fever in the Philippines, but assured the public there was no epidemic and vouched for the safety of pork products in the country.