South China Sea oil and gas explorations: Will China honor its words?
High ranking government officials in the Philippines had batted out the idea of sealing an agreement with China to allow a room that will pave the way for an acceptable solution in the form of partnership to further explore oil and gas deposits in the disputed South China Sea territory. A group of disputed islands now being claimed by China. Photo: wikipedia In an informal press briefing hosted by TV5 in Manila, Sen. Gregorio Honasan, now running as one of the six candidates vying for the post of vice president with the opposition's standard bearer Vice President Jejomar Binay, suggested that instead of going into war with China, the Philippines may opt to agree for a 30-70 business partnership in so far as royalties are concerned. China, considered highly equipped with mineral exploration technology, and had already established expansions by building permanent structures which had been misconstrued by political observers as a way to let the world know that it has the legal ...