KMU swears: Big oil companies, regime will pay back for their greed

Workers under the Kilusang Mayo Uno labor center were enraged today at the recent findings on the overpricing and excessive profiteering of big oil companies amidst the public’s suffering from price spikes. 

“Big oil companies are at the crux of their greed. They are ready to kill millions of people from hunger and poverty for the sake of all the riches they can acquire,” said KMU Secretary General Wilson Baldonaza.  

Independent think tank IBON revealed that recent oil prices are now overpriced by P12 per liter. Royal Dutch Shell’s net income amounts to $27.6 billion in 2007, while Pilipinas Shell has P4.12 billion; Chevron has $18.7 billion, 9% higher from 2006, and Caltex has P2.75 billion; while Petron has P5.94 billion, 3% up from last year. 

KMU and the Unity For P125 alliance is set to hold a Black protest march tomorrow, where protesters will troop the streets in black shirts, veils, and placards, carrying empty cooking pans and plates, from Trabajo Espana to Plaza Miranda in Manila. A large streamer will be at the backdrop with the message: Gloria, unti-unti mo kaming pinapatay sa kagutuman at kahirapan (Gloria, you gradually kill us with hunger and poverty).  

Baldonaza also scored the government’s large profiteering from VAT, which now collects P118.29 million everyday from VAT on diesel and P22.77 million on LPG, amounts that are almost double from last year’s collection rate. 

“Big companies just charge their taxes to the buying public, and the regime corrupts from tax collections. This is the double cross we suffer under their greed,” Baldonaza said. 

“And now they have the guts to tell us that we do not deserve substantial wage hike? We who perspire for their wealth should break free from their mercy. 

“We vow that their greed will not go unpunished. It will be met by the people’s wrath on the streets, and other arenas of struggle,” Baldonaza added. ###