Lesson of the Iran war: There is no substitute for fossil fuels
March 10, 2026 | 12:03 am
My Cup Of Liberty
By Bienvenido S. Oplas, Jr.
The continued bombing of Iran by the US and Israel has adversely affected oil and gas prices. There is no problem when it comes to the oil and gas supply; the problem is in their delivery and export from the Middle East to Asia, Europe, and the rest of the world.
It is often argued by the climate establishment that the world’s oil, gas, and coal prices should become more expensive via the imposition of carbon, excise, and other related taxes since then people and countries will be forced to use more solar, wind, and other sources of renewable power.
Now that hydrocarbon prices are high, businesses and energy companies are supposed to run towards more investments in and use of more solar and wind power, but this is not happening. Companies instead turn to coal to keep the lights and air conditioning on.
From Feb. 27, or day before the bombing of Iran, to March 6 or after seven days of war, crude oil (WTI, Brent, Dubai, Urals) prices have gone up from 16% to 54%. Natural gas prices have a wider range of increases, with US natural gas increasing by 12% while Europe’s TTF gas increased by 67%.
Meanwhile, solar-wind energy indices declined by 3-4% — they did not increase as expected. Even the nuclear index declined by 11%. It was the price of coal that experienced an increase of 16% (see Table 1).
Which shows an inconvenient truth for the climate establishment — the substitute for fossil fuels/hydrocarbons are also fossil fuels/hydrocarbons. If not hydrocarbons from the Middle East, then hydrocarbons from Russia, Australia, or Indonesia, etc. It is delusional to think that solar/wind can substitute for fossil fuels.
Even if people use fully electric vehicles like those of BYD or Tesla, they still using oil-based products in the car paint, the dashboard, ceiling and interiors, the leather seats, the electrical wiring insulation, the synthetic rubber tires, polymers and carbon fiber, etc., even the road asphalt! These are among the thousands of oil byproducts.
We should expand exploration and development for our domestic oil and gas supply. We should have more offshore oil-gas development instead of irrational and expensive offshore wind.
I checked the movement of crude oil trade in 2024, and it showed the following:
1. The largest exporters of crude oil are Saudi Arabia, Russia, Canada, the US, the United Arab Emirates, and Iraq. Iran has no official record because of the long-standing sanctions against it, but it kept exporting crude via illicit trade.
2. The largest importers of crude oil are China, Europe, the US, India, Japan, and other Asia-Pacific nations (Taiwan, Korea, Australia, etc.).
3. The US is the largest producer of crude oil, but its oil is mostly what is called light/sweet. They still need to import heavy/sour oil for their refinery production.
4. China’s main source of crude imports is Russia, followed by Saudi Arabia, Iraq, the UAE and other nations from the Middle East (see Table 2).
So, it seems that the biggest loser in the continuing war, aside from Iran, is China since 57% of its total crude oil imports in 2024 came from the Middle East, and now the delivery is choked. The US, especially under Trump, has an implicit goal of disallowing China from becoming at par with it in the level of industrialization and political-economic influence on global affairs.
PEPIF 2026
The Philippine Electric Power Industry Forum (PEPIF) 2026 will be held on March 12 at John Hay Convention Center in Baguio City. This is a big annual conference organized by the Independent Electricity Market Operator of the Philippines (IEMOP).
Keynote and plenary speeches will be held in the morning, then a panel discussion is scheduled for the afternoon which is focused on the theme, “The Energy Trilemma in the Philippines: Pathways to Security, Sustainability and Equity.” The panel speakers will be Energy Undersecretary Mylene Capongcol, Energy Director Luningning Baltazar, Energy Regulatory Commission Director Sharon Montaner, Philippines Independent Power Producers Association Chairman Roman Miguel de Jesus, Ateneo Economics Professor Fernando Aldaba, and the National Grid Corp. of the Philippines’ Redi Allan Remoroza.
I will be moderating this panel of articulate speakers, industry players, and regulators. I hope to bring out the best ideas from each of them.
“‘Food security timebomb’: a visual guide to the Gulf fertiliser blockade”
April 3, 2026
https://www.theguardian.com/world/2026/apr/03/visual-guide-gulf-fertiliser-blockade
Asian growth during period of oil price shocks
ENERGY, INFRA AND ECONOMICS - Bienvenido Oplas Jr. - The Philippine Star
March 12, 2026 | 12:00am
https://www.philstar.com/business/2026/03/12/2513601/asian-growth-during-period-oil-price-shocks
We often hear and read how bad things can be for the Philippines and many other countries in the world as a result of the high oil-gas prices with the ongoing Iran war. While this is understandable, it also begs a look back of past economic performance as this is not the first or second time that the world has seen huge oil price shocks. There were many precedents already.
1970s-1990s
The first large oil price shock occurred in late 1973-1974, triggered by the Yom Kippur war in Israel and its aftermath. Dubai crude jumped from $2.8/barrel in 1973 to $10.4/barrel in 1974 or nearly four times price hike.
The second occurred in 1979 during the Iran civil war, oil price jumped from $13/barrel in 1978 to $29.8 in 1979, or more than double price hike. The third occurred in 2000 during the large Palestine intifada vs Israel, the price jumped from $16.9/barrel in 1999 to $26.3/barrel in 2000.
For brevity purposes, I will get the period averages for both Dubai crude prices and GDP growth in percent as follows: (a) 1972-1973 (b) 1974-1978 (c) 1979-1985 (d) 1986-1999.
Data sources: for crude oil prices, Energy Institute’s Statistical Review of World Energy 2025. GDP annual growth 1970s from WB’s World Development Indicators database; GDP annual growth 1980s onwards from IMF’s World Economic Outlook database; averages are my computations.
For Dubai crude prices in $/barrel: (a) 2.4 (b) 11.6 (c) 30.8 (d) 16.1. Rising oil prices in (b) and (c) then decline in (d).
The average GDP growth in percent of big East Asia 3 (EA-3) in periods (a) to (d) were as follows: China: 5.8, 5.7, 9.9, 9.8; Korea: 11.1, 10.8, 7.9, 8.4; Japan: 8.2, 3.1, 4.2, 2.5.
For the ASEAN-6: Singapore: 12.0, 6.4, 7.8, 7.6; Malaysia: 10.5, 7.0, 6.1, 7.0;
Indonesia: 7.6, 7.0, 6.1, 5.6; Thailand: 7.3, 7.8, 5.3, 6.7;
Philippines: 7.1, 5.7, 0.7, 3.5; Vietnam: no data for (a) and (b); 5.3, 6.6.
The high growth in China and Korea were hardly affected by high oil prices in (b) and (c) while Japan was affected in (b) and did not benefit from lower prices in (d).
Among the ASEAN-6, some growth decline in (b) and (c) but still at high levels except the Philippines in (c) where there was economic crisis from 1983-1985 in the previous Marcos Sr. administration.
The performance of rich countries in the West, same period, they really experienced lower growth in (b) and (c): US: 5.5, 3.0, 2.8, 3.4; Canada: 6.1, 3.6, 2.8, 2.6;
Germany: 4.5, 2.3, 1.6, 2.5; UK: 5.4, 1.1, 1.9, 2.7.
2000 to 2019
Continuing from the earlier periods, I divide the new periods into five: (e) 2000-2004 (f) 2005-2007 (g) 2008-2010 (h) 2011-2014 and (i) 2015-2019. I stopped in 2019 to exclude the 2020-2021 lockdown years where economic distortion was horrible.
Dubai crude prices in $ per barrel from (e) to (i) were: 26.6, 58.7, 77.7, 104.4, and 55.8. So from period (d) there was sustained increases to (e) up to (h) then stabilized at (i).
GDP performance of EA-3 in percent, China: 9.3, 12.8, 9.9, 8.1, 6.7;
Korea: 6.0, 5.1, 3.6, 3.2, 3.0; Japan: 1.4, 1.5, -0.9, 0.9, 0.8. China was hardly affected even by the $104/barrel oil. Korea was mildly affected while Japan was adversely affected with contraction and below 1.0 percent growth.
GDP performance of ASEAN-6, Vietnam: 7.2, 7.2, 5.8, 6.0, 7.1;
Indonesia: 4.6, 5.8, 6.2, 5.7, 5.0; Philippines: 4.6, 5.6, 4.4, 6.0, 6.6;
Malaysia: 5.4, 5.6, 3.6, 5.4, 4.9; Singapore: 5.3, 8.5, 5.5, 4.9, 3.2;
Thailand: 5.5, 4.9, 2.8, 2.9, 3.4. The ASEAN-6 economies were also hardly affected by high oil price shocks.
The industrial west’s GDP performance, US: 2.7, 2.8, 0.1, 2.1, 2.6;
Canada: 3.0, 2.6, 0.4, 2.5, 1.9; UK: 2.9, 2.6, -0.9, 1.9, 2.0;
Germany: 1.0, 2.5, -0.2, 1.7, 1.8. They have sustained low growth, even UK and Germany contraction in period (g) where the US finance and housing crisis happened.
From the above data, there is economic basis to argue that many East Asia and ASEAN countries in particular can weather the current high oil prices as the countries have achieved internal and regional economic dynamism and resilience.
The Philippines’ growth target of five to six percent this year appears to be attainable on the low side but the reason is more on the continuing corruption scandal and lower business confidence than the current oil price shock, which is affecting many countries worldwide.
Europe will experience double whammy, high energy prices from MidEast or imported LNG from the US, plus less access to cheap Russia oil-gas. Whereas China (and India) will benefit from more inflows of cheap Russia oil-gas, and China exports of so many manufactured goods like trucks, buses, cars, chips and consumer items will help improve East Asian productivity while keeping inflation low and manageable.
I see more migration of capital and companies from Europe to East Asia, including the Philippines. This will compensate for the economic hardship from higher global oil prices.
The Philippines as Chair of the ASEAN this year will have the great opportunity to advance a regional agenda of Peace and Prosperity. More trade and investments, more commerce and tourism in the region while the US and Europe are into endless wars and interventionist regime change projects.
President Marcos, Executive Secretary Ralph Recto and the rest of the Cabinet leadership have this great chance to pursue regional Peace and Prosperity. All war mongering agenda should be set aside, both Ukraine and Iran wars show how ugly and evil wars are.
The ASEAN economic agenda and the Philippines’ fiscal condition
March 5, 2026 | 12:02 am
My Cup Of Liberty
By Bienvenido S. Oplas, Jr.
Last week, on Feb. 24, I attended the ASEAN Editors and Economic Opinion Leaders Forum at the Fairmont Hotel in Makati. Organized by the Department of Trade and Industry (DTI), it was a huge forum with a huge audience. I counted five Cabinet Secretaries who spoke there — DTI Secretary Ma. Cristina Roque, Finance Secretary Frederick Go, Education Secretary Sonny Angara, Energy Secretary Sharon Garin, and Information and Communication Technology Secretary Henry Aguda.
Executive Secretary Ralph Recto was supposed to give a keynote speech in the morning and Presidential Communications Office (PCO) Secretary Dave Gomez was supposed to speak in the last panel discussion in the afternoon. Perhaps President Ferdinand Marcos, Jr. asked them to work in their offices instead as he himself faced the audience and foreign officials.
The president spoke in the afternoon, not with a prepared speech but rather in a one-on-one interview with veteran broadcaster Rico Hizon. The President did not even glance at his prepared notes. It was the first time I had seen and heard him speak in a spontaneous set up, and I was pleasantly surprised and impressed — he was very articulate and knowledgeable about many issues and reform items. From the territorial dispute in the South China Sea (he did not use the term “West Philippine Sea”), to incentives to attract more foreign investments, from reducing the burden of bureaucracy for business, to expanding our exports, from potential candidates for President in 2028, to the ASEAN chairmanship, and much more.
Mr. Hizon asked the president who would be his candidate for 2028 elections, in order to ensure the continuity of his economic programs and reforms. Mr. Marcos answered that it should be someone who understands economics, how to control inflation, expand GDP and production, increase investments and job creation, and improve the welfare of the Filipinos. A simple, direct, and honest response by the President — I liked it.
Mr. Hizon also asked the president what his focus would be as Chair of the ASEAN this year. He said that his priority is to make the ASEAN stick to its original purpose, to be an economic bloc unified in pursuing economic prosperity for the members and their people. A beautiful response. I would call it his “ASEAN Economic Agenda of Peace and Prosperity.” Yes, Mr. President, we can never go wrong with such a primordial goal.
One thing I noticed at the ASEAN event was that it was supposedly an editors and economic columnists/writers’ forum but there were very few media people in the room, mostly broadcast people and TV anchors like Rico Hizon, Karen Davila, Regina Hing, and Cathy Yang. And the editor-in-chief of the Straits Times of Singapore. I did not see the editor in chiefs (EICs) of big Philippine newspapers. The bulk of the audience was made up of corporate people plus a few undersecretaries of certain agencies.
Thus, the ASEAN Editors and Economic Opinion Leaders Forum became an ASEAN Business and Economic Leaders Forum. I read a few reports in print media on how the reporters and journalists were excluded from the venue and relegated to a separate room watching on wide screen TV monitors. I think the DTI should have co-organized it with the PCO because the office knows all the major editors and economic columnists and opinion leaders in the country.
CATCHING UP
Some ASEAN countries are industrializing very fast. For instance, when looking at the exports of manufactured goods in 2024, Singapore and Vietnam had exported $376 billion and $339 billion worth, more than UK and Canada, while Malaysia was catching up with Canada and may have overtaken it in 2025.
The Philippines still has a long way to go to catch up with the rest of the ASEAN-6 but is still far ahead of the other ASEAN-4.
Considering the risks of higher prices for oil-gas from the Middle East as the US/Israel-Iran war continues, I checked the value of ASEAN countries’ imports of fuels and mining products. Singapore leads in the ASEAN with $93 billion in 2024, followed by Malaysia and Thailand.
China and the US are the large importers of these products, as their exports are powered by fossil fuels and metallic products importation (see Table 1).
CASH OPERATIONS
Last Tuesday, the Bureau of the Treasury (BTr) finally released the government’s full year 2025 cash operations report (COR). The fiscal condition remained flattish, the budget deficit was still at around P1.6 trillion a year, financing or net borrowings was still at P1.4 trillion a year. Revenues are rising, but expenditures are rising fast too (see Table 2).
The large-scale privatization of some government assets and corporations should be done to raise more revenues without raising taxes. And there should be spending cuts to control the hemorrhage in public expenditures, like reforming the Military and Uniformed Personnel pension, cutting the budgets of state universities and reallocating the funds to public elementary and secondary education.
The Iran war, oil taxes, Meralco and Nordeco
March 5, 2026 | 12:00am
https://www.philstar.com/business/2026/03/05/2512050/iran-war-oil-taxes-meralco-and-nordeco
This piece will cover several topics -- from the Iran war and high world oil-gas prices, to domestic power issues.
Higher world oil, LNG, and even coal prices
Middle East countries produce and export oil and gas, no coal. Energy prices last Feb. 27 or day before the US-Israel bombings of Iran, WTI crude was $59.6/barrel, EU natural gas was euro 32/MWH, coal Newcastle was $118.5/ton. As of March 4, 11 a.m. Manila time, WTI crude was $75.3/barrel, EU natgas was euro 53.6/MWH, and coal was $138/ton.
The expectation and advocacies of many sectors is that when oil-gas prices spike high, people would demand more solar and wind for energy use, this did not happen. From Feb. 27 to March 4, solar energy index is flat at $54.6, wind energy index declined from $24.5 to $23.5. Meaning, energy companies quickly shifted to coal for power generation. Not solar or wind.
Reducing oil excise tax
The most prominent and most rational public policy discussion now in the Philippines is how to adjust to these energy price hikes. Under the TRAIN Law of 2017 (RA 10963) the President can reduce excise tax on petroleum products should Dubai crude exceed $80 per barrel for sometime. TRAIN has increased the excise tax of diesel and bunker fuel from zero to P6/liter, kerosene from zero to P5/liter, aviation gas from zero to P4/liter, regular and premium gasoline from P4 to P10/liter, LPG from zero to P3/kg and so on.
I support this move. If possible, any revision to the TRAIN law should lower the threshold for excise tax downward adjustment from $80 to $75/barrel.
Higher inflation from oil tax hikes under TRAIN law
Here are the inflation numbers in 2017, 2018 and 2019 (in percent): Singapore: 0.6, 0.4, 0.6; Malaysia: 3.8, 1.0, 0.7; Thailand: 0.7, 1.1, 0.7; Cambodia: 2.9, 2.4, 2.0; Indonesia: 3.8, 3.3, 2.8; Vietnam: 3.5, 3.5, 2.8; Philippines: 2.9, 5.3, 2.4.
Thus, of the seven ASEAN countries, only the Philippines experienced big jump in inflation in 2018 while the others have either flat or lower inflation in 2018. Despite being subjected to similar global and regional economic and energy circumstances that year. The simple reason why the Philippines has high inflation that year was the implementation of high oil taxes starting January 2018. To correct this, oil taxes should decline to be compensated by lower public spending somewhere.
Other proposals to reduce domestic oil prices
One, continue if not expand fuel subsidies for jeepneys under the Pantawid Pasada Program when global oil prices hit the $80-per-barrel threshold. No or discontinue, please. If government must subsidize public transportation, it must subsidize all including provincial and Metro Manila buses, including taxi and so on.
Two, local government should ban motorcades and caravans to save fuel. No, let people and businesses decide about their households and business needs. Bans and prohibitions are slippery slope that can lead to more bans in other sectors and sub-sectors.
Three, DOE via PNOC should build big oil storage facilities to store oil when prices are low, then release oil when prices are high. No. Let the private gas companies themselves build and maintain their own oil storage structures and facilities.
Four, accelerate energy diversification via more RE and early decommissioning of coal plants, reduce dependence on imported fossil fuels. Yes to energy diversification, No to killing of coal plants. As discussed above, the quickest adjustment by countries and companies to keep the lights and airconditioning on, is to ramp up their coal plants.
Meralco and MGEN 2025 finance and operating results
Last week, Feb. 25, I attended the Meralco presscon on their financial and operating results for 2025. Meralco’s top five officials led by chairman and CEO Manny V. Pangilinan spoke and gave briefings on the company’s good financial position.
Consolidated corporate net income (CCNI) showed 12 percent growth. Distribution utility or Meralco proper has P29.6 billion or 58 percent of CCNI, sales volume is flat at 53,997 GWH in 2024 to 54,325 GWH in 2025.
Power generation via Meralco Power Gen Corp. (MGEN) contributed P16.8 billion or 33 percent of CCNI. Sales volume increased from 15,296 GWW in 2024 to 27,289 GWH in 2025 or 78 percent increase. Rock star performance, kudos to MGEN president and CEO Manny Rubio.
The biggest contribution in MGEN’s CCNI is its 40.2 percent stake in LNGPH, the Philippines’ most expansive integrated LNG facility that supplies about 18 percent of Luzon’s electricity need, from zero in 2024 to 11,912 GWH sales in 2025.
A very useful expansion would be the Atimonan coal plant in Quezon province, 1,200 MW of high efficiency low emission (HELE) coal plant that should be operational by 2030. Then a 74-MW coal expansion in Toledo, Cebu. Visayas grid has the thinnest reserve margins compared to Luzon and Mindanao grids, and Cebu sub-grid is always under heavy pressure to produce more electricity and avoid frequent Earth Hours there.
NORDECO employees coercion
I saw one weird development posted on Facebook. Employees of Northern Davao Electric Coop (Nordeco) were ordered to use social media to protect the cooperative and oppose the takeover by Davao Light and Power Co. (DLPC) which already got the congressional franchise to also serve Davao del Norte and Davao de Oro provinces. The order dated Jan. 29, 2026 was signed by acting general manager Elvera Alngog.
Employees who cannot show enough screenshots of their social media posts and sharing are threatened with administrative sanctions based on their Code of Ethics.
This is another proof that many electric cooperatives are weak in finance and efficient service to customers but strong in politics and dirty tricks. Nordeco should shut up and follow the franchise law.
On the Iran war, energy, and economic implications
March 3, 2026 | 12:02 am
My Cup Of Liberty
By Bienvenido S. Oplas, Jr.
The US-Israel joint bombings of Iran are US President Donald Trump’s second regime change project this year. Venezuela’s President Nicolas Maduro was removed in early January, and now Iran’s supreme leader, Ayatollah Ali Khamenei, has been killed.
The US has military bases, facilities, and naval support in Middle East countries with huge oil-gas reserves — Saudi Arabia, Kuwait, Qatar, the United Arab Emirates (UAE), and Bahrain.
The US has been involved in several invasions and regime change projects in Middle East countries that have plenty of oil-gas reserves. There was the Iraq invasion in 2003, the airstrikes then partial occupation of Syria in 2014, and the bombing of Iran in 2025 and 2026.
In North Africa near the Middle East, the US bombing of Libya in 2011 also led to regime change. Last December, the US bombed Islamic militants in Nigeria.
When it comes to oil reserves, Iran has second largest in the Middle East and fourth largest in the world with 158 billion barrels. When it comes to gas reserves, Iran has the largest in the Middle East and second largest in the world with 32 billion cubic meters (bcm), trailing Russia.
Looking at the oil reserves/production (R/P) ratio, or the number of years before the reserves are depleted if current rates of production both for domestic use and exports (if any) continues, Iran is fourth in the world with 140 years, behind Libya, Venezuela, and Syria — the US’ R/P ratio is only 11 years.
Then there is the gas R/P ratio, where Iran is third in the world with 128 years, behind Iraq and Venezuela with 330+ years each. The US only has 14 years.
Looking at East Asia’s R/P ratios, China has only 18 years for oil and 43 years for gas. Of our neighbors, Vietnam has 58 years in oil and 74 years in gas, Malaysia has 12 years for both oil and gas, and Indonesia has nine years for oil and 20 years for gas (see Table 1).
The US continues its military involvement in the Middle East to pursue its oil-gas security interests. Regime change in Iran is part of this long-term goal.
The Philippines gets its oil mainly from Saudi Arabia and the UAE, two countries that also host many Overseas Filipino Workers (OFWs) especially in Riyadh and Dubai. But the oil coming from both those countries passes through the Strait of Hormuz and now the Strait is technically closed as cargo ships are avoiding it for fear of Iranian missiles.
THE US, CHINA, AND PHL
Now let’s consider the continuing economic and military rivalry between the US and China. Looking at the Philippines’ merchandise trade, especially imports, we see that China is gaining while the US is losing market share in the Philippines. The share of our total imports from China keeps rising, from 21% in 2022 to nearly 29% in 2025, and 29.2% in January 2026. In contrast, the US share decreased from 6.5% in 2022 to 6.1% in 2025, and down to 5.9% in January 2026 (see Table 2).
The overall impact of the ongoing US-Iran war will be negative economically. World prices for oil, gas, and petrochemical products (plastic, paint, fertilizer…) will increase, leading to higher overall inflation. Which will then adversely affect GDP performance as people tend to spend less when inflation is high.
I can think of two (among many) things that the Philippines can do, especially in the short-term.
One, do a partial reduction of the oil excise tax, to be compensated by a reduction of government spending like the subsidies and freebies that were created during the 2020 lockdown, and which continue until today. The budget deficit and annual borrowings should not increase when there is a partial tax cut.
Two, we should source more oil and gas from our neighbors in Asia no matter how small initially. After all, Brunei, Malaysia, Indonesia, Vietnam are fellow ASEAN members.
Ho Chi Minh and Puerto Princesa, some observations
PROVINCES & PROSPERITY
Bienvenido S. Oplas Jr.
February 27, 2026
https://palawan-news.com/ho-chi-minh-and-puerto-princesa-some-observations/
Last November I joined a group tour among friends in Ho Chi Minh City (HCM, old name Saigon) organized by iOptions Corp. It was a very educational tour.
HCM has a similar land area as Puerto Princesa City (PPC) so I made this table below to make some comparison between the two cities. Not an apple to apple comparison of course because HCM is the finance, commercial and economic capital of Vietnam while Hanoi is the political capital.
In contrast PPC is far away from Luzon island and Metro Manila. Nonetheless this short table can provide some basic information about the two cities.
Among the lessons from HCM that PPC or Davao City and other cities in the Philippines with large land area are the following.
One, more orderly traffic management. HCM alone has an estimated eight million motorcycles and scooters, about four times the estimated two million in Metro Manila (no estimate for PPC). Yet the motorcycles generally stay in one lane. Many streets in HCM are one-way with three lanes, two lanes for vehicles and one for motorcycles.
Two, no vehicles or motorcycles parked anywhere, not in city’s wide pedestrian lanes, not even in rural villages.
Three, smooth and well-paved roads. I did not see a single pothole in HCM and even in the rural villages of the city. We travelled some two hours from HCM city proper to Cu Chi tunnel, equivalent to Bulacan-Pampanga already but still part of HCM. I did not see a single pothole, or motorcycles or cars parked on rural roads.
Four, wide city walkways, about three meters wide, and well-lighted, it is not scary to walk at night in many streets of HCM. Vietnam has high electricity generation, some 3,000 kwh per capita in 2024 or nearly three times of the Philippines. About 55% of their total power generation comes from coal.
Five, all houses in the rural villages have fences except those with food shops or sundry stores. The gates and fence are at least two meters from the road, some even five meters away. No stray dogs on the roads.
Six, no barung-barong type of housing, even the poor in the rural areas have modest-looking houses.
Seven, no tricycles or jeepneys in public transportation, only aircon mini-buses and they are locally manufactured – Thaco, Samco, Vinbus, etc.
Eight, major tourism areas include their sad history after being occupied and bombed by the US from the 60s to 1975. These include the HCM War Museum and the Cu Chi Tunnel. Captured US war planes, tanks, long firearms, huge bombs, cluster bombs, and large photos of the war are displayed.
Nine, Vietnam food is nice, tasty and nutritious, lots of raw vegetables, soup, tea. HCM city proper is not coastal unlike PPC or Metro Manila, freshwater fish is relatively common.
Ten, people are hungry for prosperity, they seem to hurry to be wealthy soon. I did not see tambay-looking people, everyone is doing something, or highly mobile and going some places.
PPC is lucky to have huge land area, have mountains rivers and the sea, many potential businesses can be developed.
