Given the tensions in the Middle East and the effects it could have on oil prices, Senator Koko Pimentel on Saturday suggested that the Department of Energy (DOE) needed to seek alternative sources of oil or else focus on the development of alternative energy.
"Dapat mag isip ang DOE na ng possible new sources of oil at seryosohin na rin ang alternative sources of energy. Seryosohin na natin pag-develop," Pimentel said in an interview with a Metro Manila-based radio station.
The senator added that the Energy Department could look to other countries, like Russia, for oil.
"'Wag natin isipin malayo ang Russia dahil may parte ng Russia ang malapit. Meron kasing Asian Russia," he explained.
Pimentel added that the government needed to keep in mind that it could suspend the last tranche of the excise tax hike on fuel if prices of crude oil exceeded an average of $80 per barrel for three consecutive months, as provided for in the Tax Reform for Acceleration and Inclusion (TRAIN) law. — Angelica Y. Yang/DVM, GMA News