Tags: oil price hikes

The “proper” implementation of RA 8479 or even amendments to it will not address the problem [of overpricing]. It does not have any provision on overpricing because deregulation assumes that the market will set the “fair” price. Government could not penalize the oil firms for overpricing because they do not violate any law. BY ARNOLD…

The urgency for real transparency in the domestic oil industry remains despite the recent rollback in oil prices, and vital information needs to be disclosed for the public to be assured that the monopolized domestic oil industry is not profiting at their expense. BY IBON FOUNDATION Posted by (Bulatlat.com) Vol. VIII, No. 32, September 14-20,…

Independent think-tank IBON Foundation criticizes the Department of Energy and Malacañang for passing the zero oil tariff cut, saying that reduced tariffs in the last three months has resulted in even higher prices of oil products. BY IBON FOUNDATION Posted by Bulatlat Vol. VIII, No. 16, May 25-31, 2008 Independent think-tank IBON Foundation criticizes the…

BY JANESS ANN J. ELLAO Bulatlat Vol. VIII, No. 15, May 18-24, 2008 Hurting from the continuous oil price hikes, militant labor leaders echoed their sentiments along the streets of Quezon City during the recent transport strike. All of them were clamoring for changes. All of them were fighting for a better life. As they…

Sen. Manuel “Mar” Roxas III said that suspending the Value-Added Tax on oil products will give relief to the poor at the forum “People’s Response to the Rising Oil Prices,” Jan. 26, at the University of the Philippines in Diliman, Quezon City. BY EMILY VITAL Bulatlat Vol. VII, No. 50, January 27-February 2, 2008 Sen.…

Despite the recent oil price rollbacks, IBON computations show that oil products in the country are still overpriced by P2.12 ($0.043) per liter. While the Filipino people suffers from increases in the prices of basic goods and services, oil companies earned P3.32 billion ($68,729,945) from January to November, 2006, of which more than P2.86 billion…

By IBON Foundation Global oil prices are reaching record highs not because of unmanageable factors. In reality, giant transnational oil corporations that exert monopoly control over the global oil industry have the capacity to bring down oil prices. Super companies like Exxon Mobil (US), Chevron Texaco (US), Royal Dutch Shell (Britain-Netherlands), British Petroleum (Britain), Total…

The call to nationalize not only aims to protect the downstream oil sector. It also helps stem the tide of deregulation, liberalization and privatization of related economic sectors like transportation. By DANILO ARAÑA ARAO Bulatlat.com Deregulated land transportation fares, anyone? The deregulation of the downstream oil industry will not only result in continued increase in…