The Briefing The Philippines becomes the first country to declare a state of emergency over the global energy crisis
Mar 26, 2026
Gorana Gergic, Monocle security correspondent in Zurich, offers diplomatic and regional security analysis. Richard Haydarian, academic and Inquirer columnist, explains the Philippines' fuel shortages and energy reserves. They discuss protests over diesel scarcity, policy failures and geopolitical spillovers from the Middle East. Brief segments also cover Iran negotiations and global headlines.
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Prepare For Recurrent Gulf Energy Shocks
- Philippine governments should have foreseen Gulf-related energy shocks given repeated regional wars and global supply links.
- Haydarian cites past Persian Gulf wars and evacuations like Libya as proof that contingency planning was possible.
Privatisation Amplifies Price Pain In Crisis
- Market structure matters: heavy privatization and deregulation leave Filipinos exposed to price spikes and possible corporate opportunism.
- Haydarian suggests Thatcherite-era reforms reduced state control, complicating emergency price regulation.
Energy Crisis Becomes Political Diversion Tool
- The Duterte camp may weaponize the crisis politically, framing impeachment moves as destabilising or distracting from urgent needs.
- Haydarian describes tactics where aides call for focus on 'bread and butter' issues to deflect allegations about bank accounts.