In Korina Today, Oil Price Watch head Raul Concepcion said that an additional 9.50 per kilowatt hour will be charged by Meralco. The new rate will happen starting February. Expect also another round of price increases by as much as 6 pesos per liter. Concepcion said, they expect this due to the rising price of crude in the world market.
Wake up Mr. Concepcion. Look at the indexes today. The price of oil is decreasing. Yes, it reached 100/barrel. And some say it is the new base. However, don't help the big oil companies by saying that we should expect a 6 peso increase. You are unwittingly taking part in this nefarious scheme of conditioning the minds of the people.
Again, I repeat my previous plea to Arroyo---convene an economic summit now. Prepare for the impending economic crisis which will hit us as soon as the US economy plunges into deep recession. Convene it now. Plan for safety nets especially for OFW families who will be the first casualties. If you will not prepare now, you'll find yourself in the midst of a crisis which you will find hard to get out from.
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