CPP scores Aquino for refusing to repeal Oil Deregulation Law 03/14/2011

CPP scores Aquino for refusing to repeal Oil Deregulation Law

03/14/2011
The Communist Party of the Philippines (CPP) yesterday scored the Aquino administration for its refusal to review and repeal the Oil Deregulation Law and undertake substantial measures to impose regulations amid continuing increases in prices of petroleum products.

In a statement, the CPP said that the Aquino administration’s inaction over the spiraling oil prices in the country only “shows that it is more interested in ensuring super-profit earnings of big foreign oil companies than protecting the socio-economic welfare of the people.”

“The Filipino people have been clamoring for the repeal of the Oil Deregulation Law,” said the CPP, adding “the Aquino government, however, has shown no interest in heeding the people’s cries.”

According to the CPP, big foreign oil companies have fully exploited the Oil Deregulation Law by relentlessly for more than a decade now, raising the retail prices of diesel and other petroleum products to rake in super-profits in complete disregard of its grave impact on the people’s daily lives..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20110314nat4.html