Oil and Gas Exploration Awards in Philippine Waters

[lastlid]

"The Philippines is like a blind beggar sitting on a mountain of gold. Within the country’s 200-mile Exclusive Economic Zone (EEZ) are potential recoverable hydrocarbon deposits worth an estimated US$26.3 trillion. More than enough to lift the country from the centuries long morass of poverty and underdevelopment,” Nemenzo said."

http://www.mb.com.ph/articles/358043...n-oil-reserves

[fred]

"The Philippines is like a blind beggar sitting on a mountain of gold. Within the country’s 200-mile Exclusive Economic Zone (EEZ) are potential recoverable hydrocarbon deposits worth an estimated US$26.3 trillion. More than enough to lift the country from the centuries long morass of poverty and underdevelopment,” Nemenzo said."

http://www.mb.com.ph/articles/358043...n-oil-reserves

Absolutely incredible!!
I doubt that the Filipino people will benefit one IOTA though.. The politicians and certain families definitely will..No doubt about that.
Lets hope the Chinese are not prepared to go to war to stop them!!