NR0308: Repeal oil dereg to stop overpricing
Mula sa Tanggapan ni Anakpawis Rep. Crispin Beltran
News Release March 8, 2005
House of Representatives, South Wing Rm 602
931-6615 Ina Alleco R. Silverio, Chief of Staff
Email: paggawa@edsamail.com.ph, anakpawis2003@yahoo.com
Cellphone number 09213907362
Visit geocities.com/ap_news
Repealing Oil Deregulation Law and dismantling oil cartel can
stop oil overpricing - Rep. Beltran
"The only way to stop oil overpricing is to stop deregulation in the oil industry and dismantle the oil cartel". This was the statement made today by Anakpawis Representative Crispin Beltran in response to the relentless problem of continuous oil price increases.
Beltran cited that since the implementation of Republic Act 8479 or the Downstream Oil Deregulation Law in 1998, gasoline and diesel prices increased by 137 percent and 180 percent respectively.
"The Oil Deregulation Law simply allowed the oil companies to freely increase their prices at their own will. It increased the monopolistic control and profiteering of the oil giants forming the cartel", said Beltran.
Beltran welcomed and supported Senate President Drilon's proposal to buy back Petron shares saying that such proposal is a step towards dismantling the oil cartel. However, the labor leader turned lawmaker insisted that repealing the Oil Deregulation Law is a bigger step to stop overpricing.
The solon also criticized the Department of Energy's (DOE) bases of reviewing the Oil Deregulation Law. He said "that the House Committee on Energy instructed the DOE to review RA 8479 on matters regarding the pricing mechanism of oil companies and not on merits of their standards."
"It is clear that the House Committee on Energy, in its last hearing, is demanding the Department of Energy to investigate probable overpricing of oil companies. If the DOE will not investigate the issue on overpricing, its effort to review the Oil Deregulation Law is useless and is just a waste of time and resources," Beltran added.
Beltran also asked his fellow solons to support House Bill 1065 entitled "An act repealing Republic Act 8479, otherwise known as the Downstream Oil Deregulation Law", It was filed last July 1, 2004, the first session day of the 13th Congress by Anakpawis, Bayan Muna and Gabriela Partylists.#
News Release March 8, 2005
House of Representatives, South Wing Rm 602
931-6615 Ina Alleco R. Silverio, Chief of Staff
Email: paggawa@edsamail.com.ph, anakpawis2003@yahoo.com
Cellphone number 09213907362
Visit geocities.com/ap_news
Repealing Oil Deregulation Law and dismantling oil cartel can
stop oil overpricing - Rep. Beltran
"The only way to stop oil overpricing is to stop deregulation in the oil industry and dismantle the oil cartel". This was the statement made today by Anakpawis Representative Crispin Beltran in response to the relentless problem of continuous oil price increases.
Beltran cited that since the implementation of Republic Act 8479 or the Downstream Oil Deregulation Law in 1998, gasoline and diesel prices increased by 137 percent and 180 percent respectively.
"The Oil Deregulation Law simply allowed the oil companies to freely increase their prices at their own will. It increased the monopolistic control and profiteering of the oil giants forming the cartel", said Beltran.
Beltran welcomed and supported Senate President Drilon's proposal to buy back Petron shares saying that such proposal is a step towards dismantling the oil cartel. However, the labor leader turned lawmaker insisted that repealing the Oil Deregulation Law is a bigger step to stop overpricing.
The solon also criticized the Department of Energy's (DOE) bases of reviewing the Oil Deregulation Law. He said "that the House Committee on Energy instructed the DOE to review RA 8479 on matters regarding the pricing mechanism of oil companies and not on merits of their standards."
"It is clear that the House Committee on Energy, in its last hearing, is demanding the Department of Energy to investigate probable overpricing of oil companies. If the DOE will not investigate the issue on overpricing, its effort to review the Oil Deregulation Law is useless and is just a waste of time and resources," Beltran added.
Beltran also asked his fellow solons to support House Bill 1065 entitled "An act repealing Republic Act 8479, otherwise known as the Downstream Oil Deregulation Law", It was filed last July 1, 2004, the first session day of the 13th Congress by Anakpawis, Bayan Muna and Gabriela Partylists.#
posted at 6:56 AM
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