No more fuel gasoline diesel to be bought.
November 10, 2009 7:03pm CST
Lately, fuel issue is up in the air, government said price freeze, fuel giants resort to shortage by not buying fuel anymore for reason that they are loosing, and once the price freeze is lifted they are talking of price increase of 5 pesos. Whats the real issue in here, are these fuel giants really loosing, but look into their delaration of earning last year, they bragged about earning millions. Can we disscuss this issue.
1 person likes this
• Quezon City, Philippines
11 Nov 09
Yeah, you have a point in there. We have at this point been blackmailed by these big oil companies. They flash their Income statements that they are earning but at this point in time when we are all flat down on our knees from the calamities that we just had. They would say they would lose, but who isn't losing at this point in time. Everybody is making sacrifices in their businesses just so for us consumers to be able to cope with this crisis. The government obviously is also at a loss from all of these after spending a lot on helping and relief operations. Why can't these big oil companies do their share in helping our nation to at least be able to rise up again before thinking of their own pockets. I am for sure that its only cents that they would be losing in here and we would shoulder the rest when the price freeze would be lifted once and for all.
11 Nov 09
the problem we have today are product of wrong governance, at the time of Marcos we have the PNOC ubder the government. the time of FVR the PNOC was privatized, today the government cant do anything when this 4 oil majors will say this is our price but to follow, unlike having a government own Oil Company who knows how much they are buying abroad can say no, this is the real price and cannot be dictated. Now, we can be black mailed, when they say we no longer have oil so the whole country will stop to operate. LOL, thats how the united nation beats the Germans during the first world war, cut their fuel supply.
11 Nov 09
Whether we like it or not, we are all hostage and we can't do anything about it since we are that dependent on oil. In my own opinion, these giants are not losing but the prize freeze would make it difficult for them the achieve their targeted income. I'm sure everyone is aware that all companies have its own projected earnings for a year and not achieving it means some heads will roll. I'm sure there are several examples out there whose chairmen were fired for not getting the projected income. If this happens in government offices how much more in the private sector? For me, these oil companies are too big to be bankrupt on an industry where there's technically no competition. Cheers!
11 Nov 09
I understand your point on projected earning however thats greediness. Would you believe that they can afford to close down their business or just fooling around with the government. I dont believe that they are ready to close down their business thats why they are called giants, they are simply controlling the business in their advantage.