Giant oil companies advertised full page appeals today in major newspapers, asking President Gloria Macapagal-Arroyo to lift Executive Order 839. This "controversial" E.O. has been opposed by these companies because they have reportedly incurred losses by up to 18 billion pesos already. Economic adviser Joey Salceda sided with these companies, saying that the E.O. benefitted the middle and elite classes instead of the masses. While Senator Joker Arroyo says that Mrs. Arroyo is just doing her job to protect public interest.
Is Salceda right in saying that only the middle classes benefitted from the E.O.?
By freezing oil prices to its October 15 levels, Malacanang just averted possible social unrests. Why so? A further rise in oil pump prices would have led to protests from transport and consumer groups. Transport groups would have called for a fare hike. While consumer groups would have given them additional fuel for protests for price hikes in certain commodities.
I believe what Joker said---Malacanang is just protecting public interest. And I am solidly behind them. The Palace should not give way to these pressures coming from oil companies. Time for the government to show these companies that enough is enough. If they persist in pressuring government to give them more profits, Mrs. Arroyo should order their arrests and deportation. These oil companies are committing economic sabotage. Time to show them the boot.
Gloria, magpakatibay ka. Isulong mo ang interest ng bayan!