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Section: General News - The Department of Energy (DOE) is studying the idea of putting up up a strategic petroleum reserve to cushion the impact of high oil prices to consumers.
"DOE is studying the idea and we are looking for ways to put it in place," Energy Secretary Jose Rene Almendras told reporters on Thursday.
Almendras said he is open to a review of the Oil Deregulation Law of 1998 or the Republic Act 8479 is "a good idea" and the department is studying how it can be done.
"There are some things that we'd like to add such as reportorial requirements and other information. It is one thing to deregulate but it's also good to know some information.…