Solon asks Noynoy to stop oil price hikes By Charlie V. Manalo 01/24/2011

Solon asks Noynoy to stop oil price hikes

By Charlie V. Manalo 01/24/2011

Bayan Muna Rep. Teddy Casiño yesterday said that among the socially-sensitive issues that the Aquino administration should squarely address at all levels is the intermittent hikes of oil prices that happens at the whim of the international monopolies and local oil firms.

“Since government deregulated the oil industry via Republic Act 8479, we have been at the mercy of the oil oligopoly that is fooling the public by rapidly increasing pump prices at every squiggle of the international market and is extremely slow to reduce prices when prices per barrel go down. There will be no end to this extortion until government imposes prices controls for socially-sensitive oil products, aggressively pursues alternative and renewable energy sources, and puts a stop to oil smuggling,” Casiño said..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20110124nat1.html