Sunday, November 09, 2008
In the land of misery, one good news will make you ecstatic. The discovery of oil in Galoc, Palawan is one news that could be considered a blessing that somewhat help in easing the pain of the soul and of the body.
According to the Department of Energy the Galoc Oil Field is expected to produce an average of 17,000-20,000 barrels of crude oil DAILY, equivalent to about 6% of the country's requirement.
This means the country will save millions of dollars in import costs.
PETRON is the first buyer of the crude oil from Galoc.
The question now is how the government will spend the savings. Hope the next President will allocate it to the improvement of education.