Political will needed: PH should scale up renewable energy, EVs, mass transit amid fuel price surge – Manny Villar
Be smart, be strategic.
As fuel prices soar due to the Middle East hostilities, the Philippines should use this crisis as a wake-up call to accelerate the shift to renewable energy and cleaner transportation, according to ultra bilyonaryo former Senator Manny Villar.
Villar said the country must invest more aggressively in renewable energy such as solar, wind, hydro, and geothermal power to reduce its dependence on imported fuel.
“The Philippines already has significant geothermal and hydro resources, and solar power is becoming cheaper worldwide. Scaling up these projects and modernizing the power grid can reduce our exposure to oil price spikes over time,” he said in his latest Manila Bulletin column.
To shield the country from oil price shocks, Villar also pushed for electric vehicles and mass public transport systems. Urban planning focused on mass transit and walkable communities can also reduce fuel consumption.
“These measures require political will and consistent execution, not just hurried reactions when the crisis is already at its worst,” he said.
He said the Philippines must be “smart and strategic” in responding to the latest crisis.
Such events abroad, he said, can quickly affect the country’s fuel prices, currency, and even the livelihoods of overseas Filipino workers.
“I’ve learned that from the many crises my businesses have gone through in the past. The current Middle East tensions, like earlier global shocks, can be a wake up call for the Philippines to build a more resilient, less import dependent economic model,” he said.
