Oil Companies are Loving the Oil Situation
Wednesday
Aug 20, 2008
One thing consumers are wondering these days is why the oil company giants are taking their sweet time adjusting their current gasoline prices despite the dramatic decrease in the world market. While government intervention seems to be useless, the conclusion is that they are dilly dallying to be able to make up for losses from previous years. Is that ethical?
Surely, auditing their financial records is not expected to help. For one, it is easy to maintain two sets of financial statements, one which is false and the other as the real and authentic one. Of the two, it is obvious that the former will be the one used as many businessmen want to avoid being reprimanded or penalized if found to be guilty of taking advantage of the situation.
As far as the government is concerned, perhaps this is one instance where they can show the validity of being recognized into power. Major players are taking advantage of the situation and hopefully this can be corrected.