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As the world is gripped by an imminent fuel crisis, the Philippine government became one of the first nations to declare a state of national energy emergency in response to the US and Israel war with Iran and blockade in the Strait of Hormuz due to the conflict.

Manila said a committee has been formed to ensure the orderly movement, supply, distribution and availability of fuel, food, medicines, agricultural products and other essential goods.

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Transcript
00:00The
00:00The
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00:16The best place to visit Giselle Station is located in the U.S.
00:18The island is now located in the Isla Station.
00:18The island is located in the U.S.
00:21The island is located in the U.S.
00:23The island is located in the U.S.
00:25?
00:25?
00:26?
00:26?
00:26?
00:27The
00:28understood
00:31for
00:32to
00:34the
00:35water
00:36water
00:36water
00:36water
00:37water
01:06It's been a problem from 5 days to 1 week, it's still
01:10We have to sit from somewhere else, we have to go from our house, I'm not living here,
01:14I'm just doing my job, I'm surviving my life here, but if it gets more difficult, I have
01:22to migrate to my home town, because it's not possible for me to experience this kind
01:27of condition in the city.
01:28From last 24 hours, I am seeing that queue is only long, people are waiting in petrol
01:33pump from day and night, and people also are helpless, but they can't speak anymore.
01:38But I have to speak that, I am facing issues from last 5 days.
01:51It affects too much because we depend on the fuel, we have to do the best possible for
01:57that it's healthy, it's healthy, because it's complicated.
02:01In all parts of the world, it's going to be the same.
02:04I have one in Spain, another in Australia, it's going to be in all parts, it's going to be
02:23remote, with sismos, with volcanoes, we always have to go ahead.
02:27No doubt that this will bring as a consequence that there is a inflation and, well,
02:34the authorities like the Ejecutive and the Legislative will be responsible for these
02:41measures, because this is not a situation of this government that just ingress.
02:46This is a responsibility of a world war.
02:49And the biggest problem is that it has to be understood that we have to have the certainty
02:59of being able to continue working on the roads of Chile.
03:06Because of the sustained supply issue, we are having gaps within the supply chain.
03:12And these gaps have now started to reflect in our local supply.
03:18What is happening is every 14th of every month, EPRA announces the prices that we are
03:24supposed to adhere to at the palm price.
03:27And the 14th of this month, the government introduced some subsidies.
03:34Because of the crisis that we are getting ourselves into, the markets reacts to the
03:40reality, not the arrangements.
03:43And so the realities are, there is a supply gap.
03:46And this supply gap now, people are starting to do hedging.
03:50People are starting to look at the internal arrangements of how to maximize.
03:55Remember, just as states, private entities are rational entities.
03:58They are out for profit.
04:01Thank you very much.
04:01Thank you very much.
04:02My name is Lemaitre.
04:02Thank you very much.
04:03This is the perfect world to talk about a future of this.
04:06I was told by Hiru and this project.
04:06I did not know that this is not the design of that I was a major.
04:10You
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