PGMA orders Reyes to solve looming oil shortage
President Gloria Macpagal-Arroyo ordered Department of Energy (DOE) Secretary Angelo Reyes to solve the looming oil shortage.
But Reyes at the same time sought to allay fears of an actual shortage taking place, saying the government would take the necessary remedy. He said he had deployed his people to check the levels of inventory in oil depots.
Executive Secretary confirmed reports that oil companies had offered price discounts on their products in exchange for the lifting of Executive Order 839. These proposals, according to him, have already been submitted to Justice Secretary Agnes Devanadera.
President Arroyo issued Executive Order 839 to prevent unreasonable oil price hikes in typhoon devastated cities and provinces. (pbc/PIA)
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