we got oil and inflation is levelling off.......

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we got a few good news lately.
at least according to the government.
nonetheless, it's a
welcome thing in this turbulent
economic times....

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1. The Galoc Oil Field off southwestern Philippines finally went onstream Thursday.

---Amid the gloom cast over the Philippine economic scene by the meltdown of the US financial market comes a ray of sunshine in the form of a fresh extraction of oil from the Galoc oilfield off Palawan at 10:45 a.m. today.

The fresh extracts confirm daily production projections of 17,000-20,000 barrels of oil in the first 90 days of operation, or about 6 percent of the country’s demand of 300,000 barrels a day, Executive Secretary Eduardo R. Ermita said in a statement.

He said that at 11:20 a.m. today (Thursday), the fresh oil extracts from Galoc were on board a Philippine vessel en route to “our local refineries”.

http://www.gov.ph/news/?i=22452

http://www.scandoil.com/moxie-bm2/news/first-oil-achieved-at-galoc-oil-field-philippines.shtml



2. The country’s “rising inflation is finally leveling off".

http://www.gov.ph/news/?i=22452


3. The Philippine financial system is not likely to crash like its American counterpart due to the conservative and prudent stance of local banks and monetary authorities.

http://ph.news.yahoo.com/star/20081010/tph-malaca-ang-strong-banking-sector-541dfb4.html


>>>>>good new's indeed.

thanks KUMAGCOW. I've known it first from your site.
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let's brace ourselves,
have faith in the Filipino
and work together to weather
the storm. KAYA YAN!!!