DOE Geared Up for Energy Summit

PRESS RELEASE
23 January 2008

The Department of Energy (DOE), in partnership with the Asian Development Bank, Japan International Cooperation Agency, United Nations Development Programme, United States Agency for International Development and World Bank, is all set for the Energy Summit that will bring together stakeholders in the energy sector to address the impact of continued high oil prices on the Philippines’ economic growth, vulnerable sectors and the general public.

The summit’s theme is “$100 per Barrel: Crisis or Opportunity?” Apart from discussing ways to avert a crisis in the short term, the DOE has also included sessions in the summit that will seek new approaches to accelerate the development of alternative fuels and other sources of energy.

The summit, which will be held from January 29-31 and on February 5 at the SMX Convention Center Mall of Asia in Pasay, is organized into workshops and plenary sessions that feature speakers and technical experts who will discuss various issues in the oil industry and the effects on the transport/consumer/industry/labor sectors.

Day 1 (January 29) will present global, regional and national perspectives on the impact of current oil price trends and thresh out the concerns of the stakeholders. Day 2 (January 30) will discuss the imperative of energy security and sustainable development and look at ways to further develop oil and gas exploration in the country and promote the use of renewable energy. Day 3 (January 31) will examine measures to ease the burden of high oil prices to energy/power users. Participants will also meet to ensure that mechanisms will be established to monitor the proposed interventions.

On the final day (February 5), participants will present a summary of workshop outputs and action plans to President Gloria Macapagal-Arroyo.