I strongly disagree with Chacha102's answer.
A proper answer to this question would fill several books - never mind a 20 line post here.
Both approaches have their benefits and drawbacks. I would recommend anyone who wants to consider themselves a good programmer to have significant experience in procedural, non-procedural and object-oriented programming. As well as experience with different methodologies such as SCRUM, cascade and RAD.
Regarding PHPs suitability for OO vs procedural coding, certainly the roots of the language are in the latter (but note that both Java and ASP are hybrid rather than true OO languages).
Peronally, I tend to write procedural code when I need to produce something which is either very simple or must have its behaviour to be thouroughly defined and predictable. However when writing complex code where the behaviour will vary greatly at run-time, I find OO to be vastly more efficient in terms of developer time - despite the design being based around a finite set of use-cases.
To argue that you should always write procedural code because it will run faster than OO code:
1) is not necessarily true
2) totally ignores the relative cost of developer time vs hardware costs
would it be good to wrap stuff inside a class and use static functions
Given that namespaces are now available in PHP, this is a really messy way to avoid namespace collisions and not something I would recommend.
C.