Angara calls for immediate passage of Renewable Energy Bill

Senator Edgardo J. Angara has urged the Senate to pass the proposed Renewable Energy Act of 2008 saying that this legislation is a vital step towards the development of our country's vast alternative energy resources that will eventually benefit both the present and future generation.

"We need to pass this measure now because of the immediate and long-term positive effects of renewable energy in preserving our environment and stemming global warming and climate change," Angara said in his co-sponsorship speech.

He noted that at least 56 countries worldwide now have some type of renewable energy promotion policy and that several developing countries are actively engaged in enacting policies.

"At least 11 developing nations ranging from Cambodia to Turkey have some sort of national policies to promote, encourage or directly fund clean energy development. We should not allow ourselves to be left behind."

By the time the Renewable Energy Bill is passed, he said, it will help wean the country's dependence from imported oil.

"In the Philippines, the oil prices have skyrocketed to as high as US$100/barrel last January, the highest in our history so far. According to experts and analysts, prices will continue to rise as emerging economies like China and India continue to expand and the veil of instability in the Middle East remains.

"According to the study made by the Renewable Energy Coalition, if the country saves even half of its net oil imports, it can use this amount for social and infrastructure programs such as: sending 17 million children to elementary school, building 250,000 classrooms, putting up 135,000 health centers, feeding 14 million families, and building 38,000 farm-to-market roads."

"I'm not saying that the Renewable Energy Bill will be the magic bullet that will solve all of our energy problems but I believe that it is a vital step we must take in order to harness and develop the vast alternative energy resources that our country possesses, to benefit both present and future generations."

"We have the resources, we have the manpower, and we have all the opportunities. What we need is a legislative measure that will provide the much needed incentives, and investment environment conducive for developers of renewable energy technologies."

"We must act now to ensure that the Philippines become one of the most attractive investment destinations for major renewable energy players in the global market," he stressed.