Thursday, July 31, 2008
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Market forces at work

Even though I'm hitting myself on the head for gassing up the old car yesterday and the new car today, I'm glad that the oil businesses are already responding to market forces and competition which is the very essence of oil deregulation.

Given these trying times, at least, the "old boys' club" and "everybody happy" mentalities are losing their grip in Philippine business. And it only takes one person or one entity to break away from the norm. And that breakaway pioneer will really get rewarded financially and psychologically by the market. That first person or entity that paves the way reaps the rewards.

I am personally tired of how quickly these oil companies raise prices when the world oil price moves up and lower prices at a snail's pace when world prices come down. I'm tired of all their tired excuses.

I hope this breakaway mentality catches on in other industries, like the telcos. These companies have to realize that competition is healthy for them. Cartels are not good for their business in the long run and they have their respective stockholders to account to. And their "old boys club" and "everybody happy" mentalities leaves the rest of us suffering.

(Oh, it's Saint Ignatius Feast Day today...)

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