Marcoleta dismayadong nag walk-out matapos gisahin ang DOE

[0:00] Thank you, Chair. [0:36] Thank you, Chair. [1:11] Thank you, Chair. [1:48] Thank you, Chair. [2:23] Thank you, Chair. [2:59] Thank you very much. [3:33] I mentioned that the Director of the Oil Industry Management Bureau is to submit how the OIMB does its monitoring. [3:41] But to answer it precisely, we can have... [3:43] After two weeks, it became 110. [3:47] So, did you confirm that? [3:48] Did you validate that? [3:49] That they really bought at 110 pesos per liter? [3:55] Or did they just use their inventory? [3:59] Because at that time, they still had 46 days for diesel and 53 days for gasoline. [4:09] Mr. Chair, because we always have the cyclic differential cost... [4:22] It's hard. [4:23] It's hard to tell if you're right or wrong. [4:24] This is what I'm saying. [4:25] They still have inventory. [4:27] You take note. [4:28] It's still 46 days. [4:29] This is the last year. [4:31] It means that they still bought at the same price. [4:35] After two weeks, they suddenly increased. [4:40] They said 110. [4:43] Now, it's abrading to 126. [4:47] How did you monitor? [4:48] How did you validate that it's true? [4:50] While they're still using their inventory. [4:54] They bought. [4:55] At the same price. [4:58] Mr. Chair, because basically, it's like saying that the diesel we consume is around 30, 33 million liters per day. [5:12] So, it's about seven days. [5:15] And when that's sold, they always... [5:20] After two weeks, the inventory is gone. [5:25] Forty-five. [5:25] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:26] Forty-five. [5:27] It'll arrive next week. [5:28] No, wait. [5:29] Let's go to their inventory first. [5:32] After two weeks, is the inventory gone? [5:34] Is that the assumption of DOE? [5:36] No, it's around seven days. [5:37] Oh yeah, that's the assumption. [5:38] Where did you say 110? [5:39] That is the question. [5:41] Mr. Chair, because they have to replenish again the seven days... [5:48] No, director. [5:52] After two weeks, the inventory is still there. [5:55] Yes. [5:56] Okay. [5:57] But after two weeks, it was 110 again. [6:00] How did you justify that? [6:04] Because, Mr. Chair, yung binenta kasi na yun will have to be replaced right after next week. [6:14] So, kinulekta ho yung amount. [6:17] So, ang nangyari, ang nag-finance ang taong bayan. [6:23] Hindi, sabihin mo, hindi yung... [6:24] That's the way... [6:26] Ulitin mo, sinabi mo. [6:27] So... [6:28] Hindi, ulitin mo, sinabi mo. [6:29] Yes, it's really... [6:31] Hindi, exactly. [6:31] It's passed on to... [6:33] Ay, paano yung mga shareholders nila? [6:36] Hindi sila gumagalaw? [6:37] Ang taong bayan ang nagkakapitalize sa atin? [6:42] Nandun pa yung inventaryo, eh. [6:44] Ito yung problema. [6:45] Ngayon, hindi nyo ginagamit yung sinasabi ng batas na [6:49] in periods of emergency, kayo ang gagawa ng paraan. [6:54] As a matter of fact, pwede nyo i-take over, eh. [6:56] Hindi naman yun ang... [6:58] Hindi naman yun ang sinasuggest ng committee nito, eh. [7:02] We're all finding solutions to this. [7:04] Pero itong mga questions nito, kasimple lang. [7:06] Hindi nyo... [7:06] Hindi nyo man kayang sagutin. [7:08] Mr. Chair, we would like to clarify that we are not here to dispute [7:11] the business models of our oil companies. [7:14] As a matter of fact, we are thankful for their sacrifices for this country. [7:18] Kaya lang, it would appear that the business models [7:22] are no longer responding to the crisis [7:24] kung paniniwalaan natin yung binabanggit ninyong problema [7:27] ang kinakarap natin. [7:29] But until and unless we are able to validate [7:32] yung data ng pinreset ko kanina, [7:34] we're almost four hours now [7:35] since 10 o'clock in the... [7:37] the morning, eh, pwede... [7:39] pwede nga yung tank... [7:41] vessel to tank, eh. [7:43] Eh, gamitin nyo siguro Panamax vessel. [7:46] Ang ano nyan siguro is about 100,000 metric tons per container. [7:54] Oh, wala man nagbabalidate po, Mr. Chair, eh. [7:57] Para sana uwi na lang ako. [7:58] If you prove me wrong, alimbawa, [8:00] mali yung nakuha kong information, [8:03] so magsosorry na lang ako, Mr. Chair. [8:07] Pwede naman ako magsori kung mali, eh. [8:10] Hindi nahahabulin ko na lang yung tao ko, [8:12] yung kaibigan ko na nagsabi sa akin ng gano'n. [8:14] Bakit? [8:15] Bakit? [8:15] Bakit mo sinabi ito? [8:16] Mali pala. [8:17] Kasi gusto ko lang makatulong talaga, eh. [8:20] I wanted to be wrong, kung mali talaga. [8:24] But you have to prove me wrong. [8:29] Government to government, [8:30] hindi nga dapat mangyari yung pumunta nga... [8:32] Andun nga yung tanki, [8:35] yung mga tanki ng dalawang refineries. [8:38] Rotterdam refineries produces, I think, [8:40] 1.2 billion barrels, ah, yes, per day. [8:45] At nandun ang kanilang tanki sa Singapore. [8:48] Petronas also, andun ang tanki nila. [8:50] Ayun po yung kanilang presyo. [8:52] No... [8:53] Nobody is reacting to this. [8:55] Pinag-uusapan natin yung problema [8:57] at ang mga measures na gagawin natin [8:59] without even going back and checking [9:01] whether those data are valid or not. [9:07] So paano yung replacement cost? [9:09] I already told you, [9:11] kung papayagan natin yun, [9:13] after three weeks, or after two weeks, [9:16] 3 billion pesos per day. [9:20] Did you check this? [9:23] You say? [9:25] Okay. [9:25] No, did you check that it's 3 billion pesos per day, [9:28] ang income? [9:30] Pinreset ko kanina. [9:36] But the collection this week [9:38] was also used to purchase the level, [9:42] even higher level of products. [9:47] Kinuha muna kagad kasi, [9:49] dapat sana, [9:50] there should be a point [9:51] where the replacement cost should begin. [9:54] Saan ba magsisimula? [9:57] The inventory should end [9:58] where the replacement cost should begin. [10:02] Ang nangyayari, ito nga, [10:05] binil nyo na kagad ang taong bayan, [10:07] 110 kagad, [10:08] two weeks, [10:09] and nandun pa ang binenta ninyo, [10:10] sa sarili nyong inventaryo. [10:12] So, it is the public, [10:14] it is the poor public. [10:15] Ayan si Mr. [10:17] Boss, ano ang pangalan mo? [10:19] Si Mr. Balbuena kanina pa naglulupasay. [10:25] So, [10:28] Mr. Chair, [10:29] Mr. Chair, [10:34] Mr. Chair, [10:35] we're not saying that [10:36] that is right in the business, [10:39] the way it's now deregulated. [10:41] You're not answering my question, [10:43] Direktores. [10:44] Sagutin mo muna eh. [10:45] It's the 3 billion pesos per day. [10:50] One month, [10:51] itang ito eh. [10:52] So, per day ito, [10:53] 3 billion. [10:53] Yes, Mr. Chair. [10:55] If the perspective, [10:56] because it's a matter of perspective, [10:57] if the perspective is to ensure [11:00] that the seven days [11:02] used up this week [11:05] will be replaced [11:06] by next week immediately, [11:08] then the oil company [11:10] has to collect [11:10] that level of collection [11:13] to be able to purchase [11:15] the seven days replacement. [11:17] So, we can always go back [11:19] to the 45 to 50 days. [11:22] But if the perspective, [11:24] again, if the perspective is [11:25] you want to use up the 53 [11:27] before you replace it, [11:30] and that is very dangerous, [11:31] then I think we can exhaust the 53 [11:36] at that lower price. [11:37] But the problem is, [11:38] if they're gone [11:41] and the collection is very low, [11:43] you can no longer replace the 53 days. [11:48] So, it's really, [11:49] that's how they're explaining also, [11:51] on Caltex, [11:53] was also explaining that in the same way. [11:55] But you're proceeding [11:57] from the wrong premise. [11:58] What I'm saying is, [11:59] from now on, [12:00] what you're talking about [12:01] are maps and indicators [12:02] coming from the Argos. [12:04] Okay? [12:05] That's the basis [12:06] of the replacement cost. [12:08] Okay? [12:09] This is your spot market, [12:10] this is your trading floor. [12:13] What I'm saying is, [12:15] after two weeks, [12:16] and considering that [12:18] you still have 46 days [12:19] and 53 days [12:21] for diesel and gasoline, [12:22] respectively, [12:24] you've already collected [12:24] 3 billion [12:25] of the collection [12:26] and earned 3 billion pesos [12:28] per day, [12:29] which was bankrolled [12:31] by the people themselves. [12:33] This is the irony. [12:35] Now, what's your role [12:37] in the period of emergency [12:39] and national interest [12:40] is involved already? [12:43] But we're still talking [12:44] about the replacement cost. [12:46] This is your answer first. [12:47] Is it reasonable? [12:49] Is this reasonable? [12:50] In two weeks' time? [12:52] Mr. Chair, [12:53] again, it's a matter of perspective. [12:55] When the law says that [12:56] we may direct the operation, [12:59] we have to be mindful of the, [13:01] again, on price, [13:03] we have to be mindful of the, [13:05] of allowing the oil company [13:07] to be able to replace it [13:09] on a weekly basis. [13:10] Let's close the argument. [13:12] Did you check the oil companies? [13:15] Did you get the document? [13:18] Who bought it? [13:20] Can you see how much they bought it? [13:22] Did you check that? [13:24] Have you done that? [13:27] Not in that very... [13:29] How are you going to say that now? [13:31] That's your responsibility. [13:33] If you are screening, [13:34] if you are monitoring, [13:35] okay, let's say replacement cost. [13:37] Come here, my friends. [13:39] Can you bring your ICPO? [13:42] Let's see if it will work. [13:43] Where did you buy it? [13:44] We bought it at this price. [13:46] This is the price. [13:47] At least we checked. [13:49] Now I am asking you, [13:50] did you check? [13:51] You said no. [13:53] So what is monitoring? [13:54] This is the frustration, [13:59] Mr. Chair. [14:01] Thank you. [14:03] Mr. Chair? [14:04] Mr. Valbuena, [14:08] you want to interject? [14:14] Mr. Chair. [14:19] Go ahead.