29 Feb Those Gutsy Filipinos: Philippines Invites Investors to Explore for Oil in South China Sea
That South China Sea dispute just won’t go away. Not as long as there’s still oil and gas down there…
A new dispute is building between China and the Philippines over oil exploration in the South China Sea, with neither side showing any sign of backing down.The dispute began earlier this week, when Philippines Energy Minister Jose Almendras announced that foreign investors will be invited to explore for oil and gas on two undersea tracts northwest of Palawan Island, in what Manila has begun calling the West Philippine Sea.
China’s foreign ministry spokesman Hong Lei denounced the plan at a briefing in Beijing Tuesday, saying the tracts actually belong to China.
“Any country’s government or company engaging in the extraction and exploration of oil or gas in China’s sea territories, without permission from the Chinese government, is illegal.”
Hong said any such exploration without Chinese permission is illegal.
Manila, however, appears determined to go ahead. The Associated Press quotes Philippines Foreign Secretary Albert del Rosario on Wednesday reiterating his country’s decision to approve the exploration. The minister maintained that the areas in question are “well within (the Philippines’) territory” based on the United Nations Convention on the Law of the Sea.
ARen’t the gutsy ones the … investors?
Joint Chinese-Philippine investor group is a solution like the Caspian Sea situation with trigger mechanisms on going to war – share the wealth. Contract is fun! Without prejudice to the state claims bring up the oil and gas.
Best,
Ben
So I’m going to guess PetroChina and Sinopec aren’t going to be asked to bid?
“Any country’s government or company engaging in the extraction and exploration of oil or gas in China’s sea territories, without permission from the Chinese government, is illegal.”
As I said on this topic once before:
The essence of property is the ability to exclude. And, to quote the philosopher Burr, “The law is whatever is boldly asserted and plausibly maintained.”