World Boom

MANILA , Philippines - Last week we talked about a construction boom in this country. This week we focus on a potential world boom in the next two or three years. The main reason for this is the price of energy is coming down. The price of oil may or may not come down but the price of energy will come down because of liquefied natural gas. Great advances have been made both in sourcing enormous amounts of this natural gas both in surface shale and in trapped natural gas ten thousand feet below the ground and in distribution facilities. Many cars and trucks are now using canisters of liquefied natural gas. And this trend will keep growing. The price of natural gas is about a fourth of petroleum. Last month the inflation figures in the country came down just because petroleum price went down less than 10%.

With the lowering of gasoline prices the savings we make we can use for something else. In about two years our transport costs will come down at least 50%. But not only that, soon solar panels may also bring our electricity costs. Ten years ago to produce a photovoltaic panel for 100 watts had a cost of about P80 but now it has gone down to P18. When the cost goes down to half of this, our electricity bills will come down to a third of what we now pay. There will be no more need for transmission and distribution cost since we will be producing electricity on site. This will be especially helpful for our isolated islands.

In the next five to ten years, North America will be producing tremendous amounts of natural gas and a good part of the distribution facilities will be in place. Here the bulk handling facilities already exist in Batangas for Luzon and if this administration is able to do what they want, there will be storage facilities in Cagayan de Oro for Mindanao and the Visayas. Then we can import natural gas from Indonesia and Australia. Both of whom have tremendous supplies of natural gas. And we should be able to find our own deposits of natural gas west of Palawan.

Since we will be producing energy at a much cheaper cost for the whole world, the demand for this will also be there from with the middle class arising in China, Africa, South America, and the tigers of East Asia. There will then be a boom around the globe In spite of the present financial troubles in Europe and other developed countries. Our problem has now shifted to how to make sure that the buying power in these emerging countries be in the hands of those who need it. People will need jobs which may no longer be in manufacturing or communications although there is need for these jobs. Most new jobs will be in the arts. A man without a job cannot buy what he needs. Our problem then is distribution of earning capacity.

New jobs will come not only in manufacturing or communications but also in the arts and leisure trade. It is a fearless forecast that a boom is coming shifting our problem partly from job creation to proper distribution. <emeterio_barcelon@yahoo.com>

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • N. Korea fires missiles in anger at South-US military drills
    N. Korea fires missiles in anger at South-US military drills

    North Korea fired two short-range ballistic missiles into the sea and vowed "merciless" retaliation Monday as the US and South Korea kicked off joint military drills denounced by Pyongyang as recklessly confrontational. The annual exercises always trigger a surge in military tensions and warlike rhetoric on the divided peninsula, and analysts saw the North's missile tests as a prelude to a concerted campaign of sabre-rattling. "If there is a particularly sharp escalation, we could see the …

  • Couple married 67 years holds hands in final hours together
    Couple married 67 years holds hands in final hours together

    FRESNO, Calif. (AP) — After spending 67 years together as devoted husband and wife, there was no question how Floyd and Violet Hartwig would end their lives — together. …

  • 'Jihadi John' relatives under watch in Kuwait
    'Jihadi John' relatives under watch in Kuwait

    Kuwaiti authorities are closely monitoring several relatives of "Jihadi John" who live and work in the Gulf emirate where the Islamic State executioner was born, press reports said on Sunday. A number of relatives of Mohammed Emwazi, named as the militant who has beheaded at least five Western hostages, are working in Kuwait and like him hold British citizenship, Al-Qabas newspaper reported. "Security agencies have taken the necessary measures to monitor them round the clock," the paper said, …

  • Hijacked Indonesian vessel found in Davao
    Hijacked Indonesian vessel found in Davao

    An Indonesian cargo vessel that was hijacked a month ago in North Sulawesi, Indonesia has been found stuck in the waters off Mati, Davao Oriental, the Philippine Coast Guard (PCG) reported yesterday. PCG spokesperson Armand Balilo said the PCG- Southeastern Mindanao district was informed on Feb. 23 that the M/T Rehoboth was found aground off Barangay Cabuaya. Four personnel from the local PCG district office were sent to verify the report. The vessel was reportedly hijacked by …

  • Interview: Australia says hunt for missing MH370 jet may be called off soon
    Interview: Australia says hunt for missing MH370 jet may be called off soon

    By Matt Siegel CANBERRA (Reuters) - The search for missing Malaysia Airlines Flight MH370 cannot go on forever, Australia's deputy prime minister said, and discussions are already under way between Australia, China and Malaysia as to whether to call off the hunt within weeks. No trace has been found of the Boeing 777 aircraft, which disappeared a year ago this week carrying 239 passengers and crew, in what has become one of the greatest mysteries in aviation history. The search of a rugged …

  • Troops overrun BIFF bomb-making facility in Mamasapano
    Troops overrun BIFF bomb-making facility in Mamasapano

    Government troops captured Sunday a bomb and weapons factory of the Bangsamoro Islamic Freedom Fighters (BIFF) in Mamasapano, Maguindanao, the Armed Forces of the Philippines (AFP) announced yesterday. Col. Restituto Padilla, AFP spokesman, said the captured bomb and weapons factory is located inside an area controlled by radical Muslim cleric Ustadz Mohammad Ali Tambako at Barangay Dasikil in Mamasapano. …

  • Bong wants to see son in hospital
    Bong wants to see son in hospital

    Detained Sen. Ramon “Bong” Revilla Jr. will ask the Sandiganbayan to allow him to visit his son, Cavite Vice Gov. Jolo Revilla, confined at the intensive care unit of the Asian Hospital and Medical Center in Muntinlupa for a gunshot wound in the chest. Lawyer Raymond Fortun, spokesman for the Revilla family, said the senator would ask for a 24- to 48-hour furlough. Sen. Revilla’s legal counsel Ramon Esguerra said doctors removed a half liter of blood. Fortun said he was able to talk to Jolo …

  • Military steps up offensive vs BIFF, Abu Sayyaf
    Military steps up offensive vs BIFF, Abu Sayyaf

    Armed Forces of the Philippines (AFP) chief Gen. Gregorio Pio Catapang Jr. has ordered the sustained campaign against the Abu Sayyaf and the Bangsamoro Islamic Freedom Fighters (BIFF) following the successive offensives against the armed groups last week. A total of 24 Abu Sayyaf bandits and two soldiers were killed in recent clashes in Sulu last week. The Joint Task Group Sulu has received information that Abu Sayyaf leader Radulan Sahiron was wounded during one of the encounters but this is …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options