Preamble
WHEREAS, there is need to intensify, strengthen, and consolidate government efforts relating to the exploration, exploitation and development of indigenous energy resources vital to economic growth; WHEREAS, it is imperative that government accelerate the pace of, and focus special attention on, energy exploration, exploitation and development in the light of encouraging results in recent oil exploration and of worldwide developments affecting our continued industrial progress and well-being; and WHEREAS, it is essential in the interest of efficiency, economy, and effectiveness to integrate and coordinate through a single governmental entity the function and development of indigenous extracted energy resources. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following to be part of the law of the land: