00:00Good afternoon. My question is on the emergency powers. I understand that the
00:05Committee at the House has submitted its committee report to the PLLO. May we
00:11know why you prefer to receive first the committee report from Congress versus
00:18you declaring it or certifying the emergency powers bill as urgent? No,
00:27actually I will declare it as urgent because there's no point declaring it
00:34as urgent before the committee report has been completed. And that is what I
00:39told them, both houses. And I said, the minute that you have completed your
00:44committee reports, because when you declare a bill as urgent, the
00:52shortcuts, if you say, only begin on the plenary debates. So yung requirement of
01:01three working days between the reporting out from committee to the debate on the
01:08floor is shortened. And that's what, kasi kung minsan pag talagang urgent, pag report out,
01:17pag yung majority floor leader, babasahin yung report, at pagkatapos ma-approve yung
01:23report, ay hindi na ba, hindi nauupo yun. They will then go straight to the third
01:29reading. So that's when, that's when the, the declaration of the bill as urgent
01:37really goes into, into effect. You have like a preference or provisions that you want to see
01:43in the, providing you with emergency powers? It's very, very simple. What we asked of the
01:50legislature is really very simple is that when the price of oil, at least this is the original
01:57version, when the price of oil has breached $80 per barrel for, on average, for a month, then the
02:06emergency powers can be exercised. Does that mean that you will necessarily do it? But it can be,
02:13it can be exercised by the president.
02:16Just last one, sir, papano nyo po kakausapin yung mga ordinary Filipinos, na medyo nangangamba,
02:26because if the Middle East crisis worsens, so patong-patong na yan, sir, bilihin, gasolina,
02:33papano po yung magiging approach and how do you, what do you want to tell them now?
02:39Well, first of all, the, the, we are still, uh, as we explained, I explained the first time
02:46I met with you, uh, in terms of supply, we are, we are in good shape. Uh, and not only
02:52do we have
02:53inventory, uh, in the Philippines, we also are awaiting, uh, some supplies coming in that are in
03:00transit. Ang pinaaral ko lang kung yung mga in transit, baka naman nandun sila sa lugar ng
03:06peligro. So, para maging accurate yung kalkulasyon natin. Pero hindi naman daw,
03:12uh, yung, yung pag, uh, pagsara ng straight or foremost, hindi kasama dun sa kalkulasyon so far.
03:18So, uh, so in terms of supply, but you know, that doesn't mean that we're not doing anything.
03:25Uh, naghahanap tayo ng iba't ibang lugar na makapagbigay ng supply sa atin.
03:31Uh, we are talking to many other countries who we normally do not buy oil from.
03:35But, uh, hopefully, uh, we will be able to come to an agreement with them and that, uh, we will
03:42get
03:42further supply from them. But the, the, the real problem here, uh, that everybody is having to deal
03:49with is hindi natin alam kung gaano katagal ito. Uh, hindi natin, kasi yung presyo kung saan pupunta,
03:56hindi natin how long, kung tataas pa, tata, tumaas na nga, gano'ng katagal ba yung pagtaas na yun?
04:03Uh, ito ba ay napang, pang matagalan, permanent na ba ito? Ano bang mangyayari?
04:07Eh, yun ang problema talaga. And this is the same problem. Nung nasa JP Morgan ako,
04:13pinag-usapan namin na matagal ito, pati sila, sila, nag-a-analyze sila kung ano yung
04:18takbo ng financial markets, eh. So, ganun din ang kanilang sinasabi, eh. The hardest part of this.
04:26Kasi kung alam natin kung ano magiging presyo ng langis, alam na natin ang effect.
04:31So, makapaghanda na tayo. Pero ang presyo ng langis ay hindi lamang dahil sa supply,
04:38volatility is also a big factor. Pag hindi nakakasiguro, hindi tayo nakakasiguro
04:45kung gaano katagal pa ito, even the supply will be affected. Kasi yung mga supplier ng langis,
04:50siyempre, sasabihin nila, yung nasa amin, nakahawakan muna namin, baka maipit kami
04:56pag pinagbili namin ito, tapos tumagal ito, kami naman ang mauubusan.
05:00So, they can be very conservative or less so, depending again on the planning horizon,
05:10kung tawagin. If it's going to last this long, one month, two months, one week, whatever it is.
05:16But we don't know. That's the problem. We do not know how long it's going to last,
05:20when the actual war is going to end, what the end will look like,
05:26and how it will change, how everything will change.
05:29Dahil kahit ano pang mangyari, magbabagong sistema.
05:34And what will that new system look like?
05:37So, those are the unknowns that we are having to deal with now.
05:46that whole world.
05:47So, these are the unknowns that we can, what we are having to do,
05:53how old are we not having to go home.
05:59How about we having to do this new system?
05:59How about we have a different system that we have,
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