Stabilize prices, take care of people's livelihood, and protect energy! The Taiwan Petroleum Trade Union has called on the Legislative Yuan to allocate subsidies and increase capital for PetroChina. (File photo)
[Reporter Gao Jiahe/Taipei Report] Faced with international geopolitical conflicts, violent fluctuations in energy prices, and uncertainty in the global economic situation, Taiwan has long relied on imported energy. Changes in international oil and gas prices not only affect energy supply, but also affect domestic prices, industrial operations, and people's lives. CNPC has long-term cooperation with policies, through the oil price stabilization mechanism and measures to freeze and slow down the rise of people's energy prices, to absorb part of the cost of rising international energy prices and avoid energy price fluctuations from further increasing domestic prices. It has become an important force for the government to stabilize people's livelihood and take care of the whole people. PetroChina has also suffered losses due to long-term policy absorption, and its financial structure has deteriorated and affected future construction investments. The government has the responsibility to maintain the stable operation of PetroChina through reasonable allocations and capital increases.
The Executive Yuan proposed the supplementary budget for 2015, which included an allocation of 101.431 billion yuan and a capital increase of 233.834 billion yuan (China National Petroleum Corporation). The purpose is to subsidize the amount absorbed by CNPC from the insufficient increase in oil and gas sales prices since March 2015 in order to stabilize people's living prices; improve CNPC's financial structure and enrich its operating capital to support the funds required for major energy construction such as liquefied natural gas receiving stations and supply and transportation systems. The Taiwan Petroleum Trade Union expressed its affirmation and support for this and made the following statement:
1. Stabilizing prices is the responsibility of the government, and CNPC should not become a shock absorber that bears the unlimited burden of rising prices.
CNPC has absorbed the cost of rising international oil and gas prices for a long time in order to reduce people's living burden and avoid chain inflation caused by rising energy prices. The benefits of this policy are shared by all the people, and the related costs should be reasonably shared by the national budget. PetroChina cannot be allowed to bear serious losses due to policy absorption for a long time.
2. Capital increase is not to fill a bottomless pit, but to ensure national energy security
CNPC shoulders the important responsibility of stably supplying domestic oil and gas. LNG receiving stations, transmission and storage equipment and supply and transportation systems are all important infrastructure related to national energy security. The capital increase in PetroChina not only improves its book finances, but also enables PetroChina to continue to promote necessary construction, update equipment and enhance the resilience of energy supply. If investment is delayed due to financial difficulties, the ultimate impact will be on national development, industrial operations and the welfare of the people.
3. Call on all members of the Legislative Yuan to jointly support and pass the 115-year supplementary budget bill
The Taiwan Petroleum Union respects the power of the Legislative Yuan to supervise the budget and supports openness, transparency and reasonable review of the budget. However, budget supervision should not be a reason to hinder the country from promoting necessary construction. Political parties can have different positions, but stabilizing prices, ensuring energy security, and safeguarding the well-being of all people should not be divided into political parties. We sincerely appeal to all opposition parties and all legislators to prioritize the interests of the people and the country's long-term development and support the Executive Yuan's 115th supplementary budget proposal to allocate subsidies and increase capital for China Petroleum Corporation.
The Taiwan Petroleum Union emphasized that supporting CNPC means supporting people's livelihood; improving CNPC means improving Taiwan! All sectors of society are requested to support the Executive Yuan’s 2015 supplementary budget allocation and capital increase for China National Petroleum Corporation, so that China National Petroleum Corporation can continue to work hard for Taiwan, safeguard the lives of all people, and lay a more solid energy foundation for the country’s future.
