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02.04.26 - 00:12
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Oil Shock Curbs Easter Travel in the Philippines as People Pare Back (Bloomberg)
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For the first time since the pandemic, Hiraya Mendez dropped plans to drive back to her home in Nueva Ecija province, about 100 kilometers (62 miles) from Manila, during the Easter holiday weekend that starts Thursday. Instead, she's taking her two young cousins for a swim at a condominium she's renting near the capital....
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27.03.26 - 00:24
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Philippines Declares State Of Emergency As Energy Crisis Looms (ZeroHedge)
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Philippines Declares State Of Emergency As Energy Crisis Looms
As we outlined in our recent analysis on Australia's dangerous vulnerability to disruptions in the Strait of Hormuz, most of Asia is heavily exposed and faces an unprecedented energy crisis should the war in Iran continue to prevent safe passage of oil and natural gas from the Gulf. As Australia debates the potential for a national emergency, the Philippines has already declared one.
This week, Philippine President Ferdinand Marcos Jr. signed Executive Order No. 110, declaring a state of national emergency as a targeted measure focused on the energy sector in response to disruptions from the ongoing US-Israel war with Iran. Approximately 98% of all oil bound for the Philippines passes through the Strait of Hormuz.
The emergency declaration allows the Philippine government to exert control over fuel prices and fast-track imports from alternative suppliers, such as Russia. Philippine authorities say they have enough fuel to last...
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