Perhaps among the most talked about dilemma that the world is facing today is that of the crude oil shortage that has taken the whole world by storm. Owing to the various problems in oil manufacturing countries such as Iraq and Saudi Arabia, the war can be easily identified as one reason for this issue. The oil resources are without a doubt limited to these countries and it is a known fact that seeing that most people around the globe live in a life of luxury, gasoline and oil products are needed to be able to use certain vehicles. In industrial practices, this is also key since transportation of goods and operations of machinery to be able to produce the finished good is a necessity as well.
To date, it has been spread all over the news channels such as CNN, that world oil prices are slowly being lowered. The stability of prices to more affordable and manageable levels can be heard all throughout the world and other economic factors such as exchange rates and stock exchange rates are becoming more feasible and reliable as each day passes. However, for deregulated distribution of this natural resource such as the Philippines, thinking profit is still something that hinders the local economy from appreciating the good occurrence for the masses. Trying to control prices and sticking firm to be able to override losses from previous months or years of operations is what most companies such as Caltex, Petron and Shell have been resorting to, becoming a bane for most people who are in dire need of fuel and oil products. Although the exchange rate has been improving, the cost of gasoline has only showed a minimal amount of improvement, still limiting the due savings that most people are leaning on.
Companies are not being considered as the bad guy when it comes to needing to make up for losses. However, proper deliverance of the needed information on previous years of performance and the strategies that they have resorted to during the crisis years is a good way to be able to make people understand the whole scenario. While this may not solicit the whole sympathy of a nation, the effort for just simply providing supportive information with regards to their situation can be all the more understood.
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Originally posted on October 12, 2006 @ 10:17 pm