<\/p>\n
By Chloe Mari A. Hufana,<\/b><\/span> <\/b>Reporter<\/i><\/span><\/p>\n PHILIPPINE President Ferdinand R. Marcos, Jr.\u2019s call for a regional oil-sharing mechanism and joint stockpiling across Southeast Asia is unlikely to materialize within the near term, analysts said, because the Middle East crisis exposes deep structural gaps within the region\u2019s energy systems.<\/p>\n Ederson DT. Tapia, a political science professor on the University of Makati, said differing energy profiles amongst members of the Association of Southeast Asian Nations (ASEAN) complicate efforts to determine a unified response during supply disruptions.<\/p>\n \u201cSome produce, while others rely almost entirely on imports,\u201d he said via Facebook Messenger. \u201cIn times of disruption, governments are inclined to protect domestic supply first.\u201d<\/p>\n ASEAN economies are amongst essentially the most vulnerable to geopolitical tensions, with a big share of Asia\u2019s crude oil and gas imports passing through the Strait of Hormuz \u2014 a critical chokepoint affected by the US-Israel war on Iran.<\/p>\n Mr. Tapia said a gradual, less ambitious approach to cooperation is more realistic, including improved information-sharing systems, aligned stockpiling practices and selective bilateral agreements amongst member states.<\/p>\n \u201cThe true test is whether or not these can work during an actual supply shock,\u201d he identified. \u201cAt the identical time, even modest steps on this direction could have implications for deepening regionalism.\u201d<\/span><\/p>\n Josue Raphael J. Cortez, an ASEAN Studies lecturer at De La Salle-College of St. Benilde in Manila, said the region will not be yet prepared for a binding and fully operational oil-sharing framework.<\/p>\n He cited uneven economic capability amongst ASEAN members, in addition to the bloc\u2019s longstanding principle of noninterference \u2014 sometimes called the \u201cASEAN Way\u201d \u2014 as key constraints.<\/p>\n \u201cNonetheless, crises have historically pushed ASEAN to collaborate more closely,\u201d he said via Messenger. \u201cThere’s a possibility that they’d commit to this sort of arrangement, but with certain considerations.\u201d<\/p>\n Mr. Cortez said a phased approach \u2014 anchored on sustained consultations and incremental framework-building \u2014 offers a more viable path forward. Existing platforms similar to ASEAN+3, which incorporates China, Japan and South Korea, could function entry points for broader cooperation.<\/p>\n He added that infrastructure initiatives just like the ASEAN Power Grid could also help lay the groundwork for deeper energy coordination.<\/p>\n Mr. Marcos, speaking at a Japan-led summit last week, urged regional leaders to pursue joint oil stockpiling and activate the ASEAN Petroleum Security Agreement, warning that provide disruptions risk prolonging inflation and slowing economic growth.<\/p>\n He also backed further study into shared reserves, citing existing models similar to national stockpiling systems and cooperative arrangements with crude exporters.<\/p>\n The proposal comes because the Philippines, this 12 months\u2019s ASEAN chairman, grapples with surging oil prices which have pushed inflation higher and increased pressure on households and businesses.<\/p>\n The country stays under a year-long national energy emergency, reflecting its heavy reliance on imported fuel and exposure to global supply shocks.<\/p>\n Inside ASEAN, oil production is concentrated in countries similar to Indonesia, Malaysia, Thailand, Vietnam, and Brunei, while import-dependent economies just like the Philippines face greater vulnerability to cost swings.<\/p>\n Analysts said any regional mechanism should address these disparities to realize traction.<\/p>\n Mr. Tapia noted that while energy cooperation could strengthen broader regional coordination, it may face criticism if it increases reliance on external partners or fails during times of crisis.<\/span><\/p>\n \u201cSome will argue that the priority ought to be constructing stronger domestic reserves and diversifying energy sources,\u201d he said.<\/p>\n For now, Manila is specializing in domestic measures, including plans to lift fuel reserves, diversify crude sourcing and establish a strategic petroleum reserve.<\/p>\n The federal government has also explored alternative suppliers, including nontraditional partners in South America, while negotiating additional supply arrangements with allies.<\/p>\n Congress has authorized Mr. Marcos to suspend excise taxes on petroleum products to ease rising costs, although the administration has to this point limited the relief to liquefied petroleum gas and kerosene.<\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" ASEAN.ORG By Chloe Mari A. Hufana, Reporter PHILIPPINE President Ferdinand R. Marcos, Jr.\u2019s call for a regional oil-sharing mechanism and joint stockpiling across Southeast Asia is unlikely to materialize within the near term, analysts said, because the Middle East crisis exposes deep structural gaps within the region\u2019s energy systems. Ederson DT. Tapia, a political science […]<\/p>\n","protected":false},"author":1,"featured_media":321276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[19255,16528,939,3619,3028,50777,6283,2083,15116],"class_list":["post-321275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-asean","tag-capacity","tag-energy","tag-faces","tag-hurdles","tag-oilsharing","tag-push","tag-regions","tag-uneven"],"aioseo_notices":[{"message":"The permalink for this post just changed! 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