8 months DOE tries to ‘unmask’ oil firms’ margins MB |Biz
By Myrna M. Velasco With the perception that the “margins” of the oil companies have been the industry’s biggest “trade secret,” the Department of Energy (DOE) indicated that it will be exploring legal means that could compel the players to be transparent on the building blocks of their profits. Energy Secretary Alfonso G. Cusi Energy Secretary Alfonso G. Cusi told reporters that “we have difficulty unraveling industry take, they (oil companies) don’t want to reveal it.” The energy department has been pushing for an unbundling policy of all the cost components being passed on to consumers via pump prices – ... more