That is why there is urgency in sourcing for sustainable alternative energy source.
Automobile industries are fast tracking their electric and hybrid cars.
Countries are once again looking at increasing their nuclear power plants, wind and photovoltaic sources.
In this country, a rise in crude oil prices immediately results in Meralco prices going up. While in US, their power rates don't because of the following sourcing varieties for electric power:
17% Natural Gas
9% Renewable Energy
21% Nuclear Electric Power