Crying over Spilled Profits. Oil companies in the Philippines, particularly the Big Three, are raising hell over the recently-imposed price cap on pump prices recently citing losses and the possibility of a supply shortage. Are they really losing money when pump prices have incessantly increased in the past and oil companies have been raking in a lot of profits? At most, the price cap has cut into their profits. And certainly there is no shortage in the supply of oil, unless oil companies would artificially create it.
By FLON FAURILLO
(Bulatlat.com)