Korn: Thais Are Robbed through Soaring Oil Refinery Margin

[webfact]

 

BANGKOK, June 13 (TNA) – Thai people are being robbed through the oil refinery margin that rose 10 times over the past year, KLA Party leader Korn Chatikavanij said.

 

He proposed a ceiling on the margin to prevent profiteering.

 

Mr Korn who is also a former finance minister held a press conference to discuss soaring oil prices. He said that local oil prices were lower than those in other Southeast Asian countries because of subsidies from the state's Oil Fuel Fund. The fund was already 86 billion baht in the red and the loss could exceed 100 billion baht at the end of this month, he said. 

 

Mr Korn said that the oil refinery margin was “robbing” Thai people.

 

Full story: https://tna.mcot.net/english-news-958719

 

-- © Copyright Thai News Agency 2022-06-13

 

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[ThailandRyan]

Raping and pillaging is how businesses work.  The BOT and the banks have seen to it also that anyone with a savings account makes pennies.  Inflation is upon us and a global recession soon to take place.

[ChaiyaTH]

They meant that a few Thai elite families are robbed and nobody else really. Else there is so much to point out the normal Thais lost on due to them, bigger than this too.

 

Suck it up Korn, this economic stuff aside of wars will continue until near 2030. No big tourism recovery either.

Edited June 13, 2022 by ChaiyaTH

[tomacht8]

Mr. Korn is one of the few capable politicians.

[RafPinto]

What's about the big supermarkets, all owned by the same company.
Hammering on the oil companies, the usual thing.
Food prices gone up as well. Does he dare to accuse them as well.

 

Or car dealers. Used and new cars getting more expensive by the day.

[khwaibah]

Korn: Thais Are Robbed through Soaring Oil Refinery Margin

Pick a number and stand in line. This is world wide.

[hotchilli]

2 hours ago, tomacht8 said:

Mr. Korn is one of the few capable politicians.

But not in a position to do anything.

[Aussieroaming]

The refinery companies are operating under agreed government regulations. If anyone should be held to task in regards to the profiteering it is the government entities that didn't build any profit margin caps into the regulatory laws governing the oil companies and therefore allowed them to price gouge with impunity. 

 

The best the government can do now is draft new tax legislation that taxes the <deleted> out of profit margins that exceed an agreed maximum. Companies will then have no incentive the push beyond the capped margin.

 

The corporate greed, whilst sickening will be a shareholders dream come dividend time. 

 

As someone once stated, there is money to be made during chaos.

[spidermike007]

This guy is one of the few smart, experienced, and talented politicians this nation has had, in decades. He is worth listening to. Compared to the bottom of the barrel ministers and the PM, currently in place, he is a cross between Einstein, and Schweitzer. 

[BangkokReady]

6 hours ago, webfact said:

Mr Korn said that the oil refinery margin was “robbing” Thai people.

Perhaps we should, as a planet, tell the oil companies that we are not happy with the amount they are charging for oil.  They're bound to understand and do something to make things easier for us.

[matchar]

Well the largest oil refinery in Thailand (Thai Oil) is owned by PTT group (which also happens to be majority owned by the government) so they could always tell them to reduce their profit margins...