Can make the Philippines Richer: Trillion Dollar Untapped OIL RESERVES
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- Опубліковано 3 жов 2024
- The oil deposits in the West Philippine Sea will definitely make the Philippines richer, enough to counter China's aggression in the South China Sea.
Accordingly, the nation holds a staggering $26.3 trillion worth of untapped oil deposits, located within the country’s 200-mile Exclusive Economic Zone. The vast oil reserves of the Philippines are found in various parts of the archipelago, specifically the Reed Bank, the largest of them all, and the Mischief Reef in the Spratly Islands.
According to a report by the U.S. Geological Survey and China’s Ministry of Geology and Mineral Resources, the oil deposits on Spratlys Island could reach 17.1 billion barrels.
With the recent discovery of oil reserves in the Sulou, particularly within the Celebes Sea. The amount of hydrocarbon deposits in the country could be more than $26.3 trillion, more than the 13 billion barrels of oil deposits of Kuwait, one of the world’s top oil producers.
The U.S. Energy Information Agency, estimates that the South China Sea holds about 190 trillion cubic feet of natural gas, and 11 billion barrels of oil, in proved and probable reserves. Most of which lie along the margins of the South China Sea, rather than under disputed islets and reefs.
While the U.S. Geological Survey in 2012, estimated that there could be another 160 trillion cubic feet of natural gas, and 12 billion barrels of oil undiscovered in the South China Sea. Beijing’s estimates for hydrocarbon resources under the sea are considerably higher, but still modest in relation to China’s overall demand- were the country’s oil consumption in 2018 is expected to top 12.8 million barrels per day.
This year, the Washington-based Asia Maritime Transparency Initiative reported that several countries are pursuing new oil and gas development projects in those contested waters, which, the organization notes, could become a flashpoint in the disputes.
Between 2018 and 2021, there were numerous standoffs between China, Vietnam, the Philippines, and other Southeast Asian countries over drilling operations in disputed area of South China Sea, and fears are building that even more severe confrontations lie ahead.
Fresh conflicts in the South China Sea may arise as claimants - excluding the Philippines - push ahead with oil and gas projects in areas Beijing claims, according to a new report. Data from US-based Asia Maritime Transparency Initiative, detailed claimants’ new offshore projects, many of which lie inside China's sweeping nine-dash line claim, including sites where confrontations previously took place.
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Digging to that location will happen...in the name of the Lord who give that gift to us..nobody above HIS will..🙏🙏🙏
God bless the Philippines.Lord, thank you.
This is GIFT from GOD he gave this so we can help our land other countries in need ❤️❤️❤️🙏🙏🙏
That's why the philippines must invest heavily in military.. after all there is a big return in investments..
We have to developed it now. Let's not wait for another administration. We don't want to left behind now is the time.
Create a new department dedicated for oil and gas industry. We cannot rely on Department of Energy to take action as the department is busy dealing with the high cost of electricity in the country that is comparable with the advanced nations.
With all that oil PH can support more factories. PH will boom ( the right way ).
But china will do everything to stop the Philippines.
the faster the Philippines explore its oil n gas reserves the faster economic growth of the Philippines will happen
No capabilities of local oil industry to tap to this gift because the lack support from government
Patulong Tayo sa malalakas na Bansa para ma drill Yan ASAP Mr. President BBM God Bless 🙏🙏🙏
Our nation's the Philippines are rich in mineral resources and we have the intelligence officials who led and manages the country for development but it doesn't materialize the fuel security of the nation, long time ago Philippine officials know,the rich meniral oil deposit in the Philippines territory by geo science exploration but it doesn't materialize successfully,probably because of our political system and mindset of the builders of our nation, why other countries are rich,even they are not rich in meneral resources what are their strategy in development and progression of their nation. If our officials will not change for the betterness of the nation,the people of the republic of the Philippines will suffer economically . Now the Philippines concerned nowadays geopolitics, powerful nation like china and Vietnam are interested in Philippines natural oil resources, and they were now in the Philippines area of responsibility, why this did happen now, what wrong to our intelligence and brilliant officials how did this happen, whats the cause, is this negligence,self interest, corruptions, greediness and selfishness, we hope for the remedy and the best destiny of the Philippines development in harnessing it's God given natural resources for the people of the republic of the Philippines. 🇵🇭🇵🇭
ok then if phillipines are rich in mineral resources so just ignore sabah
Thank you Lord sa ng grasya , lalo na sa lahat ng allied Country fruendship of the Philippines na sumosuporta sa aming bansa .
God has blessed Philippines because We Filipinos Worshiping and believed in God! Bec our Faith belongs to God ! Lord Jesus onlt
As the 3rd strongest and wealthiest country in the solar system just behind India and Korea, the Philippine exactly can handle everything very well. The Philippines as well as India and Korea are richer and stronger than gods, don't worry everythings alright.
Oil-rich countries are already investing in renewable energy. Is the Philippines still interested in oil exploration?
Renewable energy can balance out the pollution from fossil fuel but never truly replace it.
Imagine PH being rich both manpower it provides and its pesos.......
The richer the Philippines the harder China for China to fully control the South China Sea. Philippines must used it's natural resources to make them richer..
Look at how India, Japan and Taiwan, the stronger the the country the less bullying can do.
Kasalan yan Ng mga nagpabagsak Kay marcus snr.di sana Tayo naghihirap ngayon
@@arlenemariveles4170marcos is the father of corrupt politician in the phils.
bumagsak si president marcos sr, dahil din sa mga chinese, ginamit nang mga comunista ang propaganda para mahikayat ang mga inosenting filipino para lumala ang gobyerno, sa ngayon nga marami oa ang naloloko dahil sa katangahan nang mga estudyanting natalino kuno pero hindi nila alam sinisira sila bang japwa nila filipino na mga kupal sa gobyerno.
@@arlenemariveles4170MARCOS not Marcus 👍🏼✌🏻❤️
Divine intervention for protection , justice and prosperity for THE PHiLIPPINES and THE FILIPINOS . Amen Amen Amen !
TY to this video
West Philippine SEA belongs to the Philippines.
His father time was GOLD and the son targets OIL...
Our beloved country Philippines is full of natural resources. Only greedy politicians, businessman and government agencies officials/employees are being richer.
The ordinary people of the Philippines remains poorer.
Sabah where the oil is belongs to the Philippines. Malaysia was renting it from the Sulu of Mindanao in the Southern Philippines.
😂
The philippines are rich.in natural resources.
We are only just dreaming rich if we can't materialize
Kami lang Ang Meron niyang ganyang kalaking Reserba ng langis sa buong Mundo
Hindi talaga mag materialize yan habang mga Oligarchs ang naka upo, unahin nyo na mga puppet ng LP mga dilawan
Keep dreaming while enjoying ur pagpag loool
@@aaronkerrigan241 well if u look it from another angle ..my toxicity might be to shake those up from a even more destructive path ? And believe me if Philippines keep going down this idiocy path .... even pag2 will be a luxury soon
The Philippines has many areas with potential oil and gas reserves. The government should also focus on developing those in non-contentious areas.
Oil & Gas are risky industry, we can tell the potentials but in reality cost can be too much to covers and this is the nightmare of any investors, the far the location point (offshore), the higher the costs or the risks, not to mention the weather could impact the delays of production or the distributions, safety (internal & external) + The expensive of technology, technology and technology. And finally most importantly political negotiations, will it benefit the country? olygarchs? politicians? local people? or investors? origin country of investors?
God Bless Philippines 🙏
All these dreams of higher GDP for the Philippines from oil and gas cannot be realized without two things. Higher defense budget to purchase more fighter jets, submarines, warships and missiles, and a President who won’t be reluctant to use his defensive arsenal to drive off intruder ships and airplanes from the Philippine EEZ.
As it stands right now, greedy neighboring countries are making false claims on Philippine waters with no legal basis. Why? They see the Philippine government as weak and indecisive, and perhaps would compromise parts of their natural resources just to be able to get a small fraction of what they own. That’s what keeps the Philippines from becoming progressive and rich - the Philippine leadership and their vacillating, indecisive, unsophisticated and easily cajoled Presidents.
There isn’t any clearer display of ownership as dictated by the UNCLOS, and doubly clarified the the ruling of the International Arbitration Court of 2016 as what the Philippines already have and accepted by the major powers of this world. How much more political and moral acquiescence does the Philippine leadership need, but reluctance to move still prevails among its leadership. For Fiji and Palau, it took only home-made gunboats to drive away and arrest illegal Vietnamese and Chinese intruding boats.
Looking forward thia to materialized
Keep waiting for another 1000 years loool
MAKE THE PHILIPPINES GREAT AGAIN 💖💖
Don't fall for that Donald Trump racist g.o.p cult thing. It will destroy your country like it did to the usa
This country needs Freedom
Dapat bilisan ng BBM administration ng pag explore ng oil baka maunaham na naman ng China. Bakit kaya ang tagal?
It’s been a very big dream of the Philippines the oil in the West Philippine Sea. Why this is still a DREAM for the Philippines to have this oil. Why. Will just name this The Impossible Dream of Oil.
There is SCs..there 's also have
NORTH..EAST..SOUTH..WEST...
PHILIPPINES SEAS Parts of Phil.territorial water..
Amen ! Definitely ! 😊
WOW, WE ARE NOW VERY RICH COUNTRY= $26.3 TRILLION. OIL AND Gas deposits.
Right now,ASAP
I think we need to dig first the oil inside our land like Mindanao and Cebu
The Philippines can start exploring in areas not disputed by Red China. What is Philippines waiting for? 2100?
You need billions of dollar capital. After drilling, you can lose billions. No study in oil reserve will guarantee oil.
Pbbm has been planning oil exploration in the WPS and in his recent visit in Japan he disclosed it.
There ARE no areas not disputed by China!
This is possible to start ASAP as long as you finance the billion of dollars for capital. The question is, can you provide that as soon as possible????? Oh ano can you provide that? Ano sige sumagot ka
God help us dig that resources.🙏🙏🙏
Nagkamatay na ang nag e-expect na mga Tao noon na maging mayaman ang pinas HANGGANG ngayon wala parin!!! I’m telling it won’t HAPPEN!!!
Pls.lng ibigay nyo Ang sa pilipinas sa pilipinas para sa pilipino...
Philippines politicians, businessman and government agency heads will be richer on that oil reserve.
Majority of Filipinos will remain poor, that because of corrupts politicians and greedy businessman (Chinese businesses).
The Philippines will become a rich country once the stolen gold is return and the natural gas in the ocean is extracted ❤ Then, the Philippines will purchase the most advance jet fighters like the J20 Dragon or something like it.🎉
please stop saying stolen gold you very un inform still living in history wake up it's 2024 !
Why can't we have it?
🎉🎉🎉
Trillion dollar oil is just a wild imagination. Oil drilling business is the biggest gambling business.
The problem of Filipinos is that like Americans, they talked TOO MUCH! Like US, too much talking will force other superpower countries to think how to surpass US either economy or military. Now,that we are living under 26.3T barrels of gas,then it is UNDERSTOOD that China will be more aggressive because China doesn't have. Logic! Look at Indonesia and Malaysia.."Less talk, less problem.
How come Philippines GDP less than China's a metro city
There are roughly 750 US foreign military bases; they are spread across 80 nations! After the U.S is the UK, but they only have 145 bases. Russia has about 3 dozen bases, and China just five. This implies that the U.S has three times as many bases as all other countries combined.
and all they do is waste our money.
I heard about this a long Time ago and still tapping on these resources is very slow. What is slowing them is a big question.
The development of oil and gas fields takes years. One has to have production wells, collection platforms and pipelines to onshore refineries. All of which require equipment and men to build and maintain.
GOVERNMENT CORRUPTION
The country must purchase military assets and provide manpower to protect the gas & oil activities. Use this gas & oil project as collateral of loan from allies that will support the project. Our military will protect these gas & oil fields from aggressors especially China🙏💖
The oil and gas will not go to the stations if not harvested. Too much talk
ang tanong ko na sa an ang kita ng malampaya ilan taon yan dapat mapaki nabangan iyan nakita sino ang huma hawak ng kita ng gas at oil nayan hang gangayon dapat maipa kita sa mga mamayan
Just don't let America get involved or you'll stay poor.
But the racist g.o.p republicans will demand it.
The only country and our real brothers are Indonesians no other country wants code of conduct in the sea not unless China approve it, Malaysia,Singrapore,Thailand and Cambodia are just waiting what will happen VietNam is quite surprising for their courageous acts,
Your comment shows a lack of intellect and understanding of what is going on. I do not see any Indonesian navy in your area, I do see American, English, and Australian, but they are obviously not your brothers. Without these being in your waters China would walk all over you, and Indonesia would watch and do nothing.
@@will-i-am-not you lack ability to think critically and comprehend the statement I just wrote; what I'm saying is in ASEAN block. did I mention outside Asean parties in the countries that I listed?
When Stupid Trying To Show His Genius, Only Stupidity Are Showing Every Country That You Mention Have Interest In SCS Did You They Will Watch China Take All Resources In SCS
Indonesia has its own interest. In reality, two countries with too much different culture seldom establish a close relationship. Historically, we did not have political relationship with Indonesia before. That is just your perception that is out of logic.
@@CharlieTangoLawyou are defending your illogical view. Indonesia has its own interest. In reality, Indonesia does not play role in times of war in which Philippines will be involved.
What's the latest on Benham Rise, Liguasan Marsh and Philippine Deep as sources of gas and deuterium? They could offer much bigger wealth, if fully developed.
this channel should change its name to philippine analytics, its always about philippines, not ASEAN
Propaganda channel funded by NED loool
Because Philippines are very Fastest Growth enconomy and it has many updates in the Philippines so I think this channel always content about the Philippines unlike other Countries have low updates because of the slow economy
Philippines does not want to destroy environment thats why we produce only we need... we ai'nt push over ... same goes to territory...
no way for greedy China...He just scaring us always but that is before in time of Duterte but now no more. With BBM righteousness and courage to fight for the right to care for our own territories, we the Pilipino people is willingly to fight up to the end if possible...
See what Saudi is doing right now. When the Right Time comes, when the country has tough government regulation like a first world.
Philippines just rely on the Dollar remittances of OFW that's why it survives.. what will happen to our country if we just import and do not use and develop our resources because our govt doesn't move
We may be poorer than North Korea without the support of OFW & BPO
There is a LOT of Poverty in the Philippines.
Yet there are Oil Fields there.
The money is not enriching the Vast Majority of the residents of the country.
I suggest that our government to establish oil distillation and refinery plant which more cost effective than importing directly diesel, gasoline, lpg etc.
Ang nsa governo ang yumaman. Mga tao nghihirap. Hindi na mwala.ang kurakot sa pinas. Kawawa lang mga tao
That's why US and NATO are interested in !?
Thank goodness for China! Other countries not easy for them 😅 to get in control
That is why china want the wps,because of the oil and gas.
once u build a gas o bio gas eh build more defense upng walang sakop plus unhan un senior free medical and ofw build more job upng marami balik n income lesen muna partner sa local like tracking o housing build.
That's the reason why China came up with its 9 dash line to occupy the oil and gas reserves 😂
There are quite a few oil deposits on the main islands within Philippine's maritime boundary but PBBM have to try and grab the areas outside the boundary from China(and Vietnam).
Other way around. Fake news.
Funny though. Philippines has a lot of prospects location of gas within our ezz. Recently Israel discovered gas in Palawan, and British discover gas in sulu sea, and many more, but I think it's depends on the government or legislation if they will allow the exploration.
Actually Philippines sea is dedicated to fisherman livelihoods and safety of civilians living on that spratley islands.
What happend to Sabah issue?
Loool the Spain Court have thrown the case out in favour of malaysia hahaha
upng wala trbho bgyn and make it zero n employee muna pra di mghirp mga tao..pkilosin ninyo sa poea kysa agency
we need a guard dog to focus on the crocodile in sea witch is the china...
Dapat Hindi dog Dapat jaguar kundi leon because they hunt crocodile and eat them 😂😂😂
Vietnam get oil sliently in SCS, while PH lost everything in argue launched by US😂
If we could not hold China in encroaching our islands in WPS and could developed our oil deposits? Then let us just leave our country to be daydreaming of becoming to be a rich country in the future. If we want to be rich then we will find a way to develope this oil deposits. Not that we will always talking that we have a big deposits oil and gas deposits that until now it is still in sea waiting for exploration and drilling.
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Thought we were at peak oil like 50 years ago 😅
Nobody wants to make research to find the oil deposit.
Has the Philippine government been sleeping?
🤑🤑🤑
Talk3x.
Best deal with ASEAN not outsider US or EU
ASEAN Countries are more corrupt than the US and EUROPIAN countries.
Look at the status or standing of thier economy before comparing.
the mainland chinese PLA empire is like an old mongolian empire conqueror that have an obsessions to invade it's neighbors land seas inorder to aquire more wealth and enriching the main central chinese empires..
Blame Tanga-log and Cebu-gays
Bs
china is part of Mongolia since ancient times!!!
China sorry,out now.
Why would the Philippines needs to mine for oil and gas? She has a sugar daddy who can print as much as he wish and throwing a few crumbs to the Philippines would amount to hundreds of billions. See, the Philippines are very smart 'cuz they definitely know who to serve. 😂😂😂😂
Ai lokko mai mi Bong Bong. Ranya yaa awayaai yu lani South China Sea. Bok bong ba getada.
There is a needed correction: The wording coming out of Paramount Leader Xi Jinping, perhaps should be instead: "The Chinese Communist Party led PRChina owns the South-China-Sea and everything; either living or dead or other resources, liquid, metallic or solid or semi-solid etc. etc. found on the surface or underwater or beneath the sea-beds, as well as all the quantities of sea-water, all and everything belong to PRchina.
Natural resources, gas etc isn't made you rich if you have plenty of citizens to feed, foods, medicines and etc to consider, if you want to be a wealthy, start investing the money you have earned from selling the resources and gas. Invite the capitalism to invest.
Look at African countries rich of oil, diamonds and minerals but remained poor.
Invest and fight for your sovereign and ezz. Dont let china harvest your fish pond.
We have to do something to protect it whatever it cost.
That is what I've said that we could not make our oil deposits drilled and refined. We need partnership, but who will agree if the condition of partnership is not fair? Is it okey that they one who will do the exploration and make the refinery will only get 50 percent and the Philippines will get 50 percent. While the expenses is shouldered by the foreign partner from oil rig down to the refinery plant.
@@ProseBaguio-wd9fr capitalism will pay everything if you want to drilling your resources. You don't have to use your government funds or people money for the project. It should be 50/50 of terms including explanations, refinery and etc. in Philippines terms is 60/40. 60 for Philippines and 40 to capitalism.
Now if your government can afford to dig your own resources then that would be great, finding buyers is not a problem when your government has a good relationship with other countries can easily sold it. Initially use it as national consumption, the rest to be export.
Despite’s all the helps from the US, the Phillipines has remained the poorest country in SE
Yep, something wrong with the pinoy...
Says of people who know nothing about the increasing gdp of the country. Ph now is the fastest gdp in asia. Shut your mouth if you know nothing.
@@melaniemoreno9595 the only fast growing in the Philippines was the population, poverties & pollutions
@@silverianjannvs5315 what country in the world does not have a poor people? Population? Search it that th PH population are deacreasing now. The GDP is growing, why cant u accept that it happens now?
The richer the philippines become the more corrupt philippine official will be😂
Aw aw aw aw 🐕🦺🐕🦺🐕🦺
Fact
The Chinese bully small Countries should reject the Chinese claim in tge region.
China have rights to their claim lol
we must push cridible defense air sea and land force so nobidy can bully us and dig those oil and gas reseve to support the economy gogo marcos
The present government should act now to focus on oil and gas exploration and extract it now.. So that our country will enjoy the benefits of that resources given to us by Our God.
hey Xi, we don't agree with your phaquing 9 dash Line.... so phaque off the Philippine sea...
Bodol pa more botbot
Hahaha bitter ang gonggong 🤣🤣🤣
Philippines will be one of the richest country in the world.
Hahahaha keep dreaming and enjoying ur pagpag looool
If coruption is done the phillipine will get more rich but the problem is so many more curoption🥲🥲🥲
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