From 1993-97, the region was second only to Japan in terms of U.S. exports to the Pacific rim.[5] It is also an important destination for U.S. investments, surpassing Japan and Brazil by 1997.[6]
The region is also a source of natural gas and oil. The largest deposits of oil and gas in Asia could lie in the region. Gas and oil exploration activities are in full swing.

Brunei is a net energy exporter. It exports 141,000 bpd of oil and 287 bcf of natural gas. It has 1.4 billion barrels of oil reserves and produces 191.000 bbl/d of oil and 22,000 bbl/d of liquid gas.[7]

Indonesia and Malaysia are also exporting oil at 431,500 bpd and 230,200 bpd respectively. Malaysia has oil reserves of 3.1 billion bbl and 2.124 trillion cubic meters of gas reserves.[8] Indonesia has 4.6 bbl oil reserves and 2.557 trillion cubic meters of gas. Thailand has 583 million bbl of oil and 377.7 billion cubic meters of gas.

The Philippines is estimated to have 106.8 billion cubic meters of proven natural gas reserves and 152 million bbl of oil reserves. The Malampaya offshore field, the largest natural gas development in Philippine history, was discovered off Palawan by Shell Philippines Exploration. Many other oil and gas corporations have investments in the country.

Oil and gas explorations are also taking place in Vietnam and Myanmar.

U.S. strategy for Southeast Asia can be summed up in the following statement from the March 2006 National Security Strategy paper of the U.S., “The U.S. is a Pacific nation, with extensive interests throughout East and Southeast Asia. The region’s stability and prosperity depend on our sustained engagement: maintaining robust partnerships supported by a forward defense posture supporting economic integration through expanded trade and investment and promoting democracy and human rights.”

“Terrorism” in the region

After it invaded Afghanistan, the U.S. set its sights to Southeast Asia. Aside from being eagerly welcomed by a most loyal puppet in President Arroyo, the region provided the U.S. with a convenient excuse to export its “war on terror.” For one, Southeast Asia is home to a substantial population of Muslims and a number of Muslim-based movements.

Indonesia is the world’s most populous Muslim nation. The Philippines and Thailand have predominantly Muslim areas in its southern parts. Islam is one of the major religions of Malaysia.

But studies commissioned by the U.S. government would show that Muslim movements in the region are hardly an international threat. Linkages between them are relatively weak and most of these movements focused of domestic issues such as promotion and adoption of Islamic law and independence from their respective governments.[9]

The two largest Muslim political parties in Indonesia pursued a largely secular political agenda.

In the Philippines, the Abu Sayyaf is generally regarded as a bandit group. It was created by the Philippine military for the purpose of discrediting the Moro Islamic Liberation Front. The Abu Sayyaf’s connections with the military was confirmed when on June 2, 2001, 35 Abu Sayyaf rebels, thought to include the leadership, were trapped by Philippine government forces in Lamitan, on Basilan island. But they were able to escape. Suspicions were rife that they were allowed to escape after releasing a millionaire construction magnate in return for ransom. Then Army Chief of Staff General Diomedio Villanueva has since been accused of accepting some of the money as a bribe to pull back troops, and President Arroyo of covering up the event under pressure from the army.

The Moro Islamic Liberation Front and the Moro National Liberation Front both have armies. They are fighting for an independent Islamic state in Mindanao but are willing to settle for some degree of autonomy from the central government.

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