Antonio V. OsmeñaEstatements
SPECIAL interest groups continue to prioritize the use of coal to burn in boilers to produce steam and generate electrical power, providing about 85 percent of the electricity used in the world.
In the nuclear power scenario, regardless of how one feels about nuclear power, the major factor slowly shutting down the world’s nuclear industries is economics.
Only where nuclear power is pushed, controlled and heavily subsidized by a strong central government does it survive.
There is no way for less developed countries (LDCs) like the Philippines to subsidize nuclear power, which is a very expensive way to produce electricity.
Beneath the Philippine archipelago are decaying radioactive elements that generate heat that slowly flows into buried rock formations.
Under intense pressure and lava flow from the molten interior of the earth, some of the earth’s geothermal energy escapes through hot springs, geysers and volcanoes, and some is transferred over thousands to millions of years to normally nonrenewable deposits of dry steam, wet steam (mixture of steam and water droplets), and hot water lying relatively close to the earth’s surface.
Today, the Philippines has well-developed geothermal wells located in the islands of Leyte and Oriental Negros that have been producing geothermal energy to produce electricity.
It is now a question of political will whether or not our country desires to avail itself of the geothermal energy to produce the electricity needs all over the Philippinearchipelago, by way of legislating short, intermediate and long-range programs so that it will make a significant contribution in the campaign to manage climate change.
Congress needs to legislate incentives to encourage the drilling of geothermal wells.
Geothermal wells can be drilled like oil and natural gas wells to bring this dry, wet steam or hot water to the earth’s surface.
Unfortunately, there is a lack of media information regarding the status of geothermal resources in our country.
The public should be aware that the advantages of geothermal energy are: (1) the technology is well-developed and relatively simple; (2) large supply for 100 to 200 years exist for areas near deposits; (3) moderate costs; (4) moderate net useful energy yield for large and easily accessible deposits; (5) does not produce carbon dioxide; (6) does not produce materials that can be used to produce nuclear weapons; (7) land disturbance low to moderate, which can be decreased by reinjecting wastewater; and (8) in due time, electricity from geothermal energy will be a source to power electric cars, now a priority project of automakers worldwide.
Environmentalists who are concerned about air pollution from burning coal must prove that there is no effective air pollution device that causes the emission of sulphur dioxide and small amounts of radioactive substances, particulate matter, nitrogen oxides, toxic metal compounds and cancer-causing substances.
Without adequate pollution devices, coal produces more carbon dioxide per weight burned than oil or natural gas, which could accelerate possible global climate change.
Also, coal is messy to store, expensive to transport, requires large amounts of water for processing and cooling of power plants, and produces coal ash, which is messy to dispose of.
Underground wet steam deposits are more common but are harder and more expensive to convert to electricity. These deposits contain water under such high pressure that its temperature is unusually high (180 to 370 degrees C).
When a geothermal well is drilled to bring this superheated water to the surface, about 10 to 20 percent of the flow flashes into steam because of the decreased pressure.
A centrifugal separator is then used to separate the steam from the mixture of steam and water droplets, and the steam spins a turbine to produce electricity.
The remaining hot water, which is often high in dissolved salts, and the condensed steam, are usually reinjected into the earth to prevent buildup of dissolved salts in nearby bodies of water and to reduce subsidence of the ground above the geothermal wells.
The major problem to tackle is the strong lobby of the special interest groups to still prioritize coal.
Friday, September 25, 2009
Family-owned boutique hotel opens in Kasambagan
By Katlene O. Cacho
A FAMILY-owned boutique hotel in Barangay Kasambagan has opened to help Cebu accommodate the growing number of tourists seeking rooms at affordable rates.
Golden Phoenix Suites Inc. occupies a 1.5 hectare-area. It is a three-story boutique hotel with 27 rooms, ranging from premium rooms to family suites. All rooms are fully air-conditioned with flat-screen TVs and telephone service. It also features other amenities like a cafeteria that stays open all the time, Wi-Fi connection and a coffee house.
Rey Kenneth Ng, owner and managing director of Golden Phoenix Suites Inc. said during their soft opening yesterday that they invested P5 million to P6 million for the boutique hotel.
“We thought of really building an apartment but along the way of constructing it, we thought of converting it into a hotel since there were only a few things lacking to make it a boutique hotel,” he said.
He also said that what sets their hotel apart from other boutique hotels is that it offers affordable rates.
Room rates
“We call this a budget hotel,” said Osmond Yang, Golden Phoenix Suites Inc. operations manager. Room rates range from P1,280 to P3,000 a day depending on room type and are quoted for single and double occupancy.
Yang said the family ventured into hotel business because they learned that Cebu still lacks hotel rooms to accommodate the local and foreign tourists.
Ng said that with the tourism campaign of Cebu, more visitors would be coming to the city.
“That’s why we see the need to open the business especially that December and January are approaching,” he said.
Apart from tourists, Ng said they also hope to target the middle-class market. Early next year, the hotel plans to add function rooms to host weddings, birthdays and other celebrations.
The hotel will have its grand opening on Oct. 11.
A FAMILY-owned boutique hotel in Barangay Kasambagan has opened to help Cebu accommodate the growing number of tourists seeking rooms at affordable rates.
Golden Phoenix Suites Inc. occupies a 1.5 hectare-area. It is a three-story boutique hotel with 27 rooms, ranging from premium rooms to family suites. All rooms are fully air-conditioned with flat-screen TVs and telephone service. It also features other amenities like a cafeteria that stays open all the time, Wi-Fi connection and a coffee house.
Rey Kenneth Ng, owner and managing director of Golden Phoenix Suites Inc. said during their soft opening yesterday that they invested P5 million to P6 million for the boutique hotel.
“We thought of really building an apartment but along the way of constructing it, we thought of converting it into a hotel since there were only a few things lacking to make it a boutique hotel,” he said.
He also said that what sets their hotel apart from other boutique hotels is that it offers affordable rates.
Room rates
“We call this a budget hotel,” said Osmond Yang, Golden Phoenix Suites Inc. operations manager. Room rates range from P1,280 to P3,000 a day depending on room type and are quoted for single and double occupancy.
Yang said the family ventured into hotel business because they learned that Cebu still lacks hotel rooms to accommodate the local and foreign tourists.
Ng said that with the tourism campaign of Cebu, more visitors would be coming to the city.
“That’s why we see the need to open the business especially that December and January are approaching,” he said.
Apart from tourists, Ng said they also hope to target the middle-class market. Early next year, the hotel plans to add function rooms to host weddings, birthdays and other celebrations.
The hotel will have its grand opening on Oct. 11.
Crown Regency to host event for potential tower unit buyers
DEVELOPERS see the Ultima Residences Fuente Tower completed by December 2010 and are inviting interested buyers to an investor’s night on Sept. 26, the company said in a press statement.
The Ultima Residences Fuente Tower is a mixed-use condominium with loft-type residential units. It is a project of the Crown Regency Hotel and Towers chain.
The company said that the management of Fuente Triangle Realty and Development Corp. is now preparing to merge the 1st and 2nd floors of the newest tower and the 1st and 2nd floors of Club Ultima to become Shopsville Fuente. The facility will be "the city’s latest addition to classy shopping malls."
The remaining units of Ultima Residences Fuente Tower cost between P2.5 million to P9 million, depending on the area of the unit.
The company is inviting interested buyers to the Sept. 26 investor's night at the Wang Shan Lo restaurant at the 20th floor of Club Ultima. (PR)
The Ultima Residences Fuente Tower is a mixed-use condominium with loft-type residential units. It is a project of the Crown Regency Hotel and Towers chain.
The company said that the management of Fuente Triangle Realty and Development Corp. is now preparing to merge the 1st and 2nd floors of the newest tower and the 1st and 2nd floors of Club Ultima to become Shopsville Fuente. The facility will be "the city’s latest addition to classy shopping malls."
The remaining units of Ultima Residences Fuente Tower cost between P2.5 million to P9 million, depending on the area of the unit.
The company is inviting interested buyers to the Sept. 26 investor's night at the Wang Shan Lo restaurant at the 20th floor of Club Ultima. (PR)
Study places RP 12th out of 17 in Asia for IT competitiveness
MANILA - The Philippines ranked 12th in the Asia Pacific and 51st out of the 66 countries worldwide in terms of information technology (IT) competitiveness, according to a new study conducted by the Economist Intelligence Unit (EIU) and sponsored by the Business Software Alliance (BSA).
The study, now in its third year, assesses and compares the information technology (IT) industry environments of 66 economies to determine the extent to which they enable IT sector competitiveness.
The study noted that the Philippines’ IT sector improved significantly in the IT infrastructure category and advanced slightly in research and development in 2009 compared to 2008.
However, it declined in support for IT industry development and even more so in the human capital area.
2 steps down
The ratings for the Philippines in terms of business and legal environments remained more or less the same in both years.
Overall, the Philippine ranking fell two notches in the Asia Pacific from 10th in 2008 to 12th in 2009 and four rungs in the world from 47th to 51st.
“In today’s economic climate, it is critical that the Philippine Government continue to support the growth of a strong technology sector. The IT sector remains an important engine of economic growth. It is essential for the government to support innovation and take steps to stimulate technology sector output which can help attract investors and accelerate the country’s economic recovery,” said Atty. Claro Parlade, BSA director for software policy, Asia-Pacific.
Advantage
“Challenges for the Philippine Government and other Asia Pacific countries remain. With broadband access becoming a pre-requisite for many parts of the IT sector, economies with pervasive broadband penetration have a big competitive advantage over those where the infrastructure is lacking,” Parlade said.
“The study shows that economies that have strong legal frameworks for the protection of intellectual property (IP) are generally the IT leaders and score higher in the index.
Economies where IP protection has not been well enforced are not traditionally seen as innovators. Some rely instead on their low-cost labor to remain competitive but this is hard to sustain over time. By improving on the factors that contribute to IT competitiveness, Asian economies will generate long- term economic growth,” Parlade added.
According to the Economist Intelligence Unit, six factors work together to create a sound environment for the IT sector: an ample supply of skilled workers; an innovation-friendly culture; world-class technology infrastructure; a robust legal regime that protects intellectual property; a stable, open and competitive economy; and government leadership that strikes the right balance between promoting technology and allowing market forces to work.
The study, now in its third year, assesses and compares the information technology (IT) industry environments of 66 economies to determine the extent to which they enable IT sector competitiveness.
The study noted that the Philippines’ IT sector improved significantly in the IT infrastructure category and advanced slightly in research and development in 2009 compared to 2008.
However, it declined in support for IT industry development and even more so in the human capital area.
2 steps down
The ratings for the Philippines in terms of business and legal environments remained more or less the same in both years.
Overall, the Philippine ranking fell two notches in the Asia Pacific from 10th in 2008 to 12th in 2009 and four rungs in the world from 47th to 51st.
“In today’s economic climate, it is critical that the Philippine Government continue to support the growth of a strong technology sector. The IT sector remains an important engine of economic growth. It is essential for the government to support innovation and take steps to stimulate technology sector output which can help attract investors and accelerate the country’s economic recovery,” said Atty. Claro Parlade, BSA director for software policy, Asia-Pacific.
Advantage
“Challenges for the Philippine Government and other Asia Pacific countries remain. With broadband access becoming a pre-requisite for many parts of the IT sector, economies with pervasive broadband penetration have a big competitive advantage over those where the infrastructure is lacking,” Parlade said.
“The study shows that economies that have strong legal frameworks for the protection of intellectual property (IP) are generally the IT leaders and score higher in the index.
Economies where IP protection has not been well enforced are not traditionally seen as innovators. Some rely instead on their low-cost labor to remain competitive but this is hard to sustain over time. By improving on the factors that contribute to IT competitiveness, Asian economies will generate long- term economic growth,” Parlade added.
According to the Economist Intelligence Unit, six factors work together to create a sound environment for the IT sector: an ample supply of skilled workers; an innovation-friendly culture; world-class technology infrastructure; a robust legal regime that protects intellectual property; a stable, open and competitive economy; and government leadership that strikes the right balance between promoting technology and allowing market forces to work.
Real estate bill gets a break
THE chairman of the House committee on economic affairs is hoping that the Real Estate Investment Trust (REIT) Act of 2009 gets enacted into law before Congress goes into recess on Oct. 17.
This, after the Senate and the House of Representatives finally approved the REIT bill in a bicameral conference last Tuesday, said Rep. Ramon “Red” Durano VI (Cebu Province, 5th district) in a phone interview yesterday.
The REIT bill, drafted by Durano, is the Lower House’s version of a similar proposal filed by Sen. Pia Cayetano.
Durano said the development of REITs in the country will help develop the capital market since it will attract investors.
“The REITs are higher yielding and will provide investors with steady income streams since they are only allowed to invest in income-generating assets,” he said.
Aside from this, the approved version also guarantees investors dividends every year, since the law will provide that 90 percent of the income will have to be distributed as dividends on a yearly basis.
“Only the remaining 10 percent will be imposed with the corporate tax, when in a regular company, they are taxed 100 percent of their income,” Durano said.
Corporate tax imposed on REIT entities is also five percent lower than the regular corporate tax rate of 30 percent.
Initially, the first proposal of the REIT bill would have included a tax exemption for companies that register as REITs, but the Department of Finance did not allow this, he said.
To become a REIT, a company is also mandated to register with the Philippine Stock Exchange as a publicly-traded company within two years from incorporation.“This way,” Durano said, “ordinary citizens are able to partake of real estate ventures.”
Priority
Certain measures are also being considered under the bill to safeguard the interests of local investors. Durano said local investors are given priority over foreign ones and REITs must also be incorporated in the Philippines to avail themselves of the incentives.
Laws governing corporations in the country registered under the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) will also coverthe REITs.
Since it also involves money, Durano said the Bangko Sentral ng Pilipinas (BSP) will also be involved in formulating the implementing rules and regulations once the REIT is signed into law by the President.
Durano also said that once the REIT is already developed in the country, investors can also expand to infrastructure development, where roads, expressways and bridges can be managed by private companies.
This, after the Senate and the House of Representatives finally approved the REIT bill in a bicameral conference last Tuesday, said Rep. Ramon “Red” Durano VI (Cebu Province, 5th district) in a phone interview yesterday.
The REIT bill, drafted by Durano, is the Lower House’s version of a similar proposal filed by Sen. Pia Cayetano.
Durano said the development of REITs in the country will help develop the capital market since it will attract investors.
“The REITs are higher yielding and will provide investors with steady income streams since they are only allowed to invest in income-generating assets,” he said.
Aside from this, the approved version also guarantees investors dividends every year, since the law will provide that 90 percent of the income will have to be distributed as dividends on a yearly basis.
“Only the remaining 10 percent will be imposed with the corporate tax, when in a regular company, they are taxed 100 percent of their income,” Durano said.
Corporate tax imposed on REIT entities is also five percent lower than the regular corporate tax rate of 30 percent.
Initially, the first proposal of the REIT bill would have included a tax exemption for companies that register as REITs, but the Department of Finance did not allow this, he said.
To become a REIT, a company is also mandated to register with the Philippine Stock Exchange as a publicly-traded company within two years from incorporation.“This way,” Durano said, “ordinary citizens are able to partake of real estate ventures.”
Priority
Certain measures are also being considered under the bill to safeguard the interests of local investors. Durano said local investors are given priority over foreign ones and REITs must also be incorporated in the Philippines to avail themselves of the incentives.
Laws governing corporations in the country registered under the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) will also coverthe REITs.
Since it also involves money, Durano said the Bangko Sentral ng Pilipinas (BSP) will also be involved in formulating the implementing rules and regulations once the REIT is signed into law by the President.
Durano also said that once the REIT is already developed in the country, investors can also expand to infrastructure development, where roads, expressways and bridges can be managed by private companies.
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