By Joe Rivera
So much of the controversy about the Malampaya Fund focuses on whether the President has the authority to use the Fund for purposes other than to finance energy resource development and exploitation programs as originally intended.
While the Malampaya gas field off the shores of Palawan would be discovered 18 years later, this is the intent of the Special Fund established by Presidential Decree 910 issued by Ferdinand Marcos during the second year of martial law in 1973. The aforementioned Fund shall be collected from fees, revenues, fines and penalties under the old Petroleum Act of 1949, as well as the government’s share representing royalties from service contracts and similar payments on the exploration, development and exploitation of the country’s energy resources.
The Malampaya Natural Gas Platform on the Palawan shore