The ininhabited
shoal is located about 220 km West of Palauig, Zambales effectivrly within
the Phjilippines’ EEZ and almost 1,500 km away from the nearest Chinese coast,
but the People's Republic claims the area as part of their sovereign maritime
territory in the South China Sea.
Aside from obvious patriotic reasons, the Philippines is asserting
its sovereignty over Scarborough Shoal
to defend its claim over what is under and around not what lies on the surface the
outcrop.
The South China Sea, one of the world's busiest shipping
lanes, is also believed to hold vast mineral resources, as well as oil and gas
deposits.
The Philippines needs those natural resources to fuel its
economy and wants to extract them either on its own or via joint exploration
projects like on the Benham Rise on the other side of Luzon.
Businessman Manny V. Pangilinan has been
discussing options with Chinese companies such as the state-owned oil giant
CNOOC to develop potentially lucrative gas fields in Recto Bank,
and more gas and oil could be found someday off Scarborough Shoal.
However, massive offshore development in the South China Sea
would threaten a unique marine ecosystem already severely damaged
after decades of overfishing.
China has its priorities clear and directly wants to go for the oil, while the Philippines would
rather resolve the territorial dispute first and then decide what to do with
the area.
Beijing’s other interest in demonstrating its naval muscle in a region where the United States is struggling to regain a foothold after
neglecting it following the Vietnam War, when the Philippines was Washington's top ally in Asia.
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