world petroleum prices reached record highs last week, President Gloria
Macapagal-Arroyo calls on the people to take austerity measures,
supposedly to stave off the impact of oil price hikes. In contrast, the
Arroyo administration has not done anything to restrain oil companies –
especially the so-called “Big Three” Caltex, Shell, and Petron – from
jacking up their prices at practically the slightest whim and taking
advantage of the world market’s situation, citing as excuse the Oil
Deregulation Law which it could very well take steps to repeal. The Arroyo
administration protects the profits of the oil companies at the expense of
Salungguhit literally means to
underline; figuratively, to
underscore or highlight.
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© 2004 Bulatlat
■ Alipato Publications
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