DOE eyes alternative oil sources

As the Department of Energy (DOE) grapples with escalating fuel prices driven by tensions in the Middle East, the government is exploring alternative fuel sources to ease the burden on consumers.

- BY GABRIELL CHRISTEL GALANG

During a joint press briefing with the Presidential Communications Office (PCO) on Tuesday, June 24, DOE Officer-in-Charge (OIC) Sharon S. Garin stated that the government can look beyond traditional sources for crude oil.

She noted that while Iran is the third-largest producer within the Organization of the Petroleum Exporting Countries Plus (OPEC+), other options are available.

"There are other OPEC+ [countries] that have in total 5.5 million reserves that they can cover, and if that is not possible, we have other countries like the US [United States], Canada, [and] Brazil. So we have alternatives," Garin told reporters.

She acknowledged that these alternatives may not be as efficient, but the country has the option to find alternatives.

OPEC+ is a coalition of major oil-producing nations, including some Middle Eastern countries, that collaborate to manage oil production and influence global prices.