The Bomb Theory in the Glorietta 2 Friday explosion that claimed 11 lives and 130 wounded turned out to be a dud.

Explosive experts concluded Tuesday that the explosion was caused by a gas leak under the basement of Glorietta 2, one of the country's plushiest malls owned by the Ayala group, considered by Forbes Magazine as the "richest family name" in the Philippines.

The Bomb scare went ppffftt as the existence of RDX a component of C4 bomb was discounted in favor of a thesis on an LPG and diesel gas explosion.

The veil of suspicion lifted, the MILF breathed freer as it could now resume its "peace talks" with the Philippine Government in Malaysia. Abu Sayyaf Kumander Not Mudalam said the ASG is now defensively retreated in the mountains after a tight Marine blockade in Mindanao and has no operatives in Metro Manila. It cannot be the Glorietta Bomber.

The Opposition could not have mustered such atrocity - lacking in resources as it does - and definitely not lacking in bombshell issues enough to decimate the Government. It does not need to steal away innocent lives to wage a war for public opinion against government.

Even the yarn that Government triggered the bombing to divert national attention from the NBN-ZTE and Palace "pay-offs" is so stupid, it cannot even be attributed to a Government renowned for shooting itself in the foot. The Economy would have suffered more (as the stock market dove 4 percent points in one day) - and it is too conscious of international opinion of having a society in anarchy or a Government out to declare Martial Law. Those ploys do not work in this political genre and age.

It is to the discredit of this Government that even without thinking, most people bought the angle that Government was behind the bombing. Same discredit goes to the big mouths of the Government, Opposition, clergy and some Civil Society leaders whose mouths open faster than their brain waves can circulate and accusing one another of the crime.

Now that the evidence points to a gas leak than a murderous bomb plot, let us move on.

Because the even bigger bombshells are erupting long before the firecrackers of the Yuletide season could start bursting. They are the NBN-ZTE continuing Probe, the Palace "pay-offs," the over US$300-million Cyber Education Program and titanic clash between KAMPI and Lakas-NUCD. Let's look at them:

I. BOMBSHELL The cancellation by President GMA of the ZTE Deal apparently will not end with that fact. The Senate is maniacally-driven to trace accountability which can lead directly to the doors of Malacañang - and if proven, it is an offense that will be impeachable. By Thursday, former NEDA Chief Romy Neri will appear before the Senate to be grilled anew on the million-dollar issues of the ZTE Deal.

For hinting at "Executive Privilege." Senate Blue Ribbon Chair senator Alan Cayetano has threatened to jail the Cabinet member (Neri) for contempt of the Senate. A Supreme Court Resolution may be necessary. Further the Senate threatened to make public what Neri disclosed in an "executive session." Finally, Jarius Bondoc, Star Columnist can shed his media garment and reveal what his privileged information is on the ZTE Deal - for the greater good of the country.

The maverick Neri had hinted that he refrained saying more on the ZTE Deal - especially in connection with the presidency - because it could lead to another popular revolt. By not saying, to the people's mind, Neri said everything.

II BOMBSHELL. The Malacanang Pay-Off. Since ULAP and Congress and no private citizen had owned up to the Palace "pay-offs," it is almost certain that the money bags distributed by men and women wearing barong were Malacañang funds. No other entity would do that otherwise inside the Palace grounds - at least not without the tacit approval of the Palace. A news flash from GMA TV yesterday said the Palace had distributed P53 billion to local executives aside from the IRA in the last 9 years (7 under PGMA). Now the queries on the source and the purpose of such fund releases will again become a national spectacle - with a lot of red faces on TV. This could lead to a national outrage for people to demand specific accountability of the Pork Barrel of each congressman in the past and the Projects of the Governors funded from national agencies.

This can lead to not to a can, but a barrel of worms - which can embarrass many sanctimonious and holier-than-thou public officials.

III BOMBSHELL. The cancellation of the NBN-ZTE Project has led many sharp analysts to the investigation of the highly-priced Cyberband Education Project of the Department of Education worth over US$300 million. Rumors are rife that this will be used to replace the unconsummated massive "kickbacks" that would have gone with the aborted ZTE Deal.

IV BOMBSHELL. The fight between administration heavyweights of Kampi (GMA and DILG Puno) and the Lakas (FVR-JDV-Ermita) is expected to burst into a major political conflagration. GMA and JDV are just waiting who will plant the first dagger on whose back in the impeachment row (of the president or the Speaker, whichever comes first).

Speaker JDV reportedly talked to GMA last weekend with a six-page agenda to stop Graft and Corruption. The Palace Rasputins sneered behind the curtains: Look who is talking.

Executive Secretary Eduardo Ermita is rumored (strongly now) to exit as Executive Secretary. FVR, peeved by Mayor Lito Atienza's quote that the Palace distributing cash is SOP, said what could be the quote of the week "tradition does not make bribery legal and moral." That's a mouthful of bombs more powerful than 2 kilos of C4.

The country seems to be approaching a sensitive political crossroads now.

The potential powder kegs we see would make Glorietta 2 look like kindergarten stuff.

We do not want to sound alarmist. But the call for an emergency National Security Meeting Tuesday said it all.