Philippines' 'Significant' Gas Find: A Resource Curse in the Making, Courtesy of Marcos Jr.
📰 THE STORY: Bloomberg reports that Philippine President Ferdinand Marcos Jr. announced a 'significant natural gas discovery,' touting it as a step towards energy security. The article highlights the discovery as the first in over a decade. 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: This 'discovery' comes at a time when the U.S. is strategically solidifying its military footprint in the
Philippines, re-establishing military bases under the Enhanced Defense Cooperation Agreement (EDCA). The Marcos family, notoriously returned to power despite Ferdinand Marcos Sr.'s regime stealing an estimated $5-10 billion and ruling with martial law from 1972-1981 (with crucial U.S. backing), now presides over resource exploitation. This mirrors the 1950s 'reforms' and 'aid' that often preceded
or accompanied Western corporate access to raw materials across the Global South. Double Standard: When nations like Venezuela or Bolivia attempt to nationalize their vast natural gas or lithium reserves for their own people, Western media and governments decry it as 'authoritarianism' or 'resource nationalism' that threatens global markets. Yet, when a U.S.-aligned government 'discovers' gas in a
strategically vital region, it's presented as a triumph for 'energy security' and 'development,' with no scrutiny of who ultimately benefits or the impact on local populations. Follow the Money: While specific figures for this new discovery aren't yet public, the pattern is clear. U.S. defense companies directly benefit from increased military presence and regional tensions. Companies like