Duterte laments PHL’s lack of oil resources

“Meron ang Indonesia, Malaysia, pati Brunei, Brunei especially. They’re awash with oil,” President Rodrigo Duterte said during the book launching of former President Fidel V. Ramos’ “Prosper Thy Neighbor” on October 14.

Duterte noted that the saying: “Ah ‘yung Pilipinas number two noon, tapos ngayon we are second to the last, Bangladesh,” has become almost a cliché.

“Why? Well, mas marunong man kayo sa akin. We do not have oil. We do not have the buffer for supply and even the hedge in the economy,” he added.

“You can take it out pero you know everything that you see around, everything is oil,” he said. “This one is made by a machine powered by oil. The chandeliers, the step there.”

“Gusto kong umiyak kasi – I don‟t know how much of the gross domestic product would eat into our income sa dito,” he added.

Source: https://pcoo.gov.ph/wp-content/uploads/2018/10/20181014-Speech-of-President-Rodrigo-Roa-Duterte-during-the-book-launching-of-Prosper-Thy-Neighbor.pdf