00:00If you are screening, if you are monitoring, okay, sabihin na natin yung replacement cost.
00:06O, hali kayo mga kaibigan. Pwede nyo ba dalin yung inyong mga ICP o?
00:11Tingnan natin kung magkain. Saan nyo binili?
00:13O, binili natin kay ganito. Ito po yung presyo. At least chinik natin.
00:18Now, I am masking you. Nag-check. Sabihin nyo, hindi.
00:21So, ano yung monitoring?
00:26This is the frustration, Mr. Chair.
00:30Salamat po.
00:31Mr. Chair.
00:35Mr. Balbuena, you want to interject?
00:38Ba't ka aalis kung frustrated ka? Wala kang sagot na nakuha.
00:41Ha?
00:44Bakit ayaw? Kanina pang ilang oras na tayo dito, wala pa rin sagot.
00:47Mr. Chair.
00:48Go ahead.
00:49Salamat, Chair.
00:53Ako po ang pinakamahirap ang kalagayan dito eh.
00:56Hindi ko maalaman paano ako makapagpaparticipate kung ang pinag-uusapan ang laki-laki na ng problema.
01:03Ang sinasabi ko naman, mayroong recourse kasi kamukha nung ibinigay kong mga slides.
01:09Kung paniniwalaan po ninyo yung mga data na yun, wala tayong pinag-uusapan ngayon eh.
01:13Yun ang problema eh.
01:15Ang isa pong irony, Mr. Chair, yung binanggit ng aking kumari, yung replacement cost.
01:27Okay?
01:27Gusto kong balikan yun. I want to belabor that kasi yung pong nakaraang hearing natin last Tuesday,
01:34maliwanag po na sabi ninyo, DOE, meron tayong 46 days for diesel at that time.
01:41Tuesday po ito.
01:44Sa kerosene naman, meron tayong 53 days.
01:47Ang pinag-uusapan natin doon, after 15 days,
01:52mula nung sabihin ng Pangulo na meron tayong 50 to 60 days inventory,
01:58biglang pumalo sa 110 pesos per liter.
02:04Ngayon, sabi nyo kanina, meron kayong monitoring function under RA 8479.
02:12Pwede rin nyo gamitin yung EO 839.
02:16Meron kayong pwedeng gawin na mag-issue ng SOCO's order.
02:21Ano po yung unan nyong ginawa?
02:23Tinindang nyo ba kung anong basis ng 110?
02:27Iyon po yung gusto kong balikan eh.
02:30O bigla na lang kayong naniwala,
02:33hindi kayo nag-validate,
02:36dati po nilang inventaryo yun eh.
02:38Paano po magiging 110 from 55?
02:41So kung ginamit po ninyo yung tungkulin nyo under the law,
02:45like kayo nagmamonitor,
02:47ini-screen ninyo lahat,
02:50did you ask them to present,
02:52for example, documents na
02:54to validate na kailangan 110 na per liter?
03:00Kinuha nyo ba yung mga dokumento sa kanila na
03:04bumili na ba on the replacement cost ang basis?
03:07Paano po nangyari yun?
03:08Na inventaryo po ang pinag-uusapan natin.
03:11Wala pa naman eh.
03:12Ang problema kasi sa replacement cost kasi,
03:14Mr. Chair,
03:16eh kahit na wala pa yung
03:18yung ibibili nila
03:20sa susunod na kanilang pagbili,
03:22eh dapat nandoon na yung
03:24cost na dinidictate nung Argus
03:26at saka nung MAPS.
03:28Eh yun yung problema eh.
03:30Ito pong replacement cost, Mr. Chair,
03:32konektado po doon sa sinasabi nating
03:34Rockets and Feathers Irony.
03:37Ano po ibig sabihin nun?
03:39Ito pong Rockets and Feathers Irony
03:42focuses on the asymmetry of pricing.
03:47Where prices shoot like rockets
03:50when the global prices rise.
03:54But they fall like feathers
03:59when they drop.
04:01Ganon po eh.
04:03Sino po yung tinatamaan,
04:05di ba?
04:05Yung taong bayan.
04:08Can you explain that?
04:11Paano po naging 110
04:12nang hindi nyo man lang nababalidate?
04:20Thank you very much.
04:22I mentioned to the director
04:24of the Oil Industry Management Bureau
04:25is to submit
04:26how the OIMB
04:28does its monitoring.
04:30But to answer it precisely,
04:31we can have...
04:32after two weeks naging 110.
04:36So did you confirm that?
04:37Did you validate that?
04:39Na talagang bumili sila?
04:40At 110 pesos per liter?
04:45O ginamit pa lang nila
04:46yung kanilang inventory?
04:48Because at that time,
04:49meron pa silang 46 days for diesel
04:51and 53 days for gasoline?
04:59Mr. Chair,
05:03because we always have
05:05the cyclic
05:08differential cost application...
05:11May hihirapan ka dyan
05:12pagka dyan ka tumira eh.
05:13Ganito sinasabi ko.
05:14Meron pa silang inventory.
05:16You take note.
05:1746 days pa.
05:19Last hearing ito eh.
05:20Ibig sabihin,
05:21andun pa yung binili nila
05:22sa dating presyo.
05:24Ngayon,
05:25after two weeks,
05:26bigla nilang
05:28sumirit.
05:30Sabi nga nila.
05:31110.
05:32Na ngayon,
05:33ang nag-aabrasya ng 126.
05:35Paano nyo minonitor?
05:37Paano nyo binalidate?
05:39Na totoo yun.
05:40Samantalang ang ginagamit pa nila
05:42ay inventory pa nila
05:43na binili
05:44doon sa dating presyo.
05:47Mr. Chair,
05:48because basically,
05:49basically,
05:50it's like saying
05:51that the diesel
05:51we consume
05:53is around
05:5330,
05:5533
05:56million
05:57liters
05:58per day.
06:01So,
06:02mga
06:02seven days po yan.
06:05At pag
06:05yan ho
06:06ang nabenta,
06:09they always,
06:10the industry always...
06:11After two weeks ba?
06:12Naubos na yung
06:13kagad ng inventaryo?
06:14E 45?
06:15Yung dumadating
06:16pagka next week.
06:17Hindi,
06:18teka mo,
06:18ampuntahan muna natin
06:19yung inventaryo nila.
06:21After two weeks ba
06:22naubos ang inventaryo?
06:23Is that the assumption
06:24of DOE?
06:25No,
06:26it's around seven days.
06:27Saan binasi yung 110?
06:28That is the question.
06:31Mr. Chair,
06:32because they have to
06:34replenish again
06:34the seven days...
06:36Yusek,
06:37hindi ka,
06:38Director,
06:41after two weeks,
06:42nandun pa yung
06:42inventaryo.
06:44Yes?
06:45Okay.
06:47Pero after two weeks,
06:48110 na nga
06:49ang ginamit eh.
06:50So,
06:50inventaryo pa rin
06:51ang ginamit.
06:52How did you
06:53justify that?
06:56Because,
06:57Mr. Chair,
06:58yung binenta kasi na yun
07:00will have to be replaced
07:01right after next week.
07:04So,
07:05kinulekta ho yung amount...
07:06So,
07:06ang nangyari,
07:07ang nangyari,
07:08ang nag-finance
07:09ang taong bayan.
07:12Hindi,
07:12sabihin mo,
07:13hindi yung...
07:14That's the way...
07:15Ulitin mo yung sinabi mo.
07:17So...
07:17Hindi,
07:17ulitin mo yung sinabi mo.
07:18Yes,
07:19it's really...
07:20Hindi,
07:20yung exactly.
07:21It's passed on to...
07:22Yan na nga eh.
07:24Eh,
07:24paano yung mga shareholders nila?
07:25Hindi sila gumagalaw?
07:27Ang taong bayan
07:28ang nagkakapitalay sa atin?
07:31Nandun pa yung inventaryo eh.
07:33Ito yung problema eh.
07:34Ngayon,
07:34hindi nyo ginagamit yung
07:37sinasabi ng batas na
07:40in periods of emergency,
07:42kayo ang gagawa ng paraan eh.
07:44As a matter of fact,
07:44pwede nyo i-takeover eh.
07:46Hindi naman yun ang...
07:47Hindi naman yun ang...
07:50sinasuggest ng committing ito eh.
07:51We're all finding solutions to this.
07:53Pero itong mga questions na ito,
07:55kasimple lang,
07:55hindi nyo man kayang sagutin.
07:58Mr. Chair,
07:58we would like to clarify
07:59that we are not here
08:00to dispute the business models
08:02of our oil companies.
08:03As a matter of fact,
08:04we are thankful for
08:05their sacrifices
08:06for this country.
08:07Kaya lang,
08:09it would appear
08:10that the business models
08:11are no longer responding
08:12to the crisis.
08:13Kung paniniwalaan natin
08:15yung binabanggit ninyong
08:16problema kinakarap natin.
08:18But until and unless
08:19we're able
08:20to validate
08:21yung data
08:22na pinreset ko kanina,
08:23we're almost 4 hours now
08:25since 10 o'clock
08:26in the morning.
08:27Eh pwede...
08:28Pwede nga yung tank...
08:30Bessel to tank eh.
08:32Eh gamitin nyo siguro
08:34Panamax Bessel.
08:35Ang ano nyan siguro
08:36is about
08:36100,000 metric tons
08:38per container.
08:43Wala naman
08:44nagbabalidate po
08:45Mr. Chair eh.
08:46Para sana uwi na lang ako.
08:47If you prove me wrong,
08:49alimbawa,
08:49mali yung nakuha kong
08:50information,
08:52so magsosorry na lang ako
08:53Mr. Chair.
08:56Pwede naman ako
08:56magsorry kung mali eh.
09:00And then,
09:00ahabulin ko na lang
09:01yung tao ko,
09:01yung kaibigan ko
09:02na nagsabi sa akin
09:03ng ganun.
09:04Bakit mo sinabi ito?
09:05Mali pala.
09:06Kasi gusto ko lang
09:07makatulong talaga eh.
09:09I wanted to be wrong
09:10kung mali talaga.
09:12But you have to
09:13prove me wrong.
09:18Government to government,
09:19hindi nga dapat
09:20mangyari yung pumunta.
09:21Andun nga yung
09:22tanki.
09:24Yung mga tanki
09:25ng dalawang refineries.
09:27Rotterdam refineries
09:28produces, I think,
09:291.2 billion barrels
09:31ah, yes,
09:32per day.
09:34At nandun
09:35ang kanilang tanki
09:36sa Singapore.
09:37Petronas also,
09:38andun ang tanki
09:39nila.
09:39Ayun po yung
09:40kanilang presyo.
09:42No,
09:42nobody is reacting
09:43to this.
09:44Pinag-uusapan natin
09:45yung problema
09:46at yung mga measures
09:47na gagawin natin
09:48without even
09:49going back
09:50and checking
09:50whether those
09:51data are valid
09:52or not.
09:56So,
09:56paano yung
09:57replacement cost?
09:58I already told you,
10:00kung papayagan natin yun,
10:02after three weeks,
10:04or after two weeks,
10:053 billion pesos
10:06per day.
10:09Did you check this?
10:12You see?
10:14Okay.
10:15No,
10:15did you check
10:15that it's 3 billion pesos
10:17per day
10:17ang income?
10:18Pim-reset ko kanina.
10:25But the collection
10:26this week
10:27was also used
10:28to purchase
10:29the level,
10:31the even higher level
10:32of
10:34products.
10:36Kinuha mo na
10:37kagad kasi
10:38dapat sana
10:39there should be
10:40a point
10:40where the
10:40replacement cost
10:41should begin.
10:43Saan ba
10:45magsisimula?
10:46The inventory
10:46should end
10:47where
10:48the replacement
10:49cost
10:49should begin.
10:51Ang nangyayari,
10:52ito nga,
10:54binil nyo na
10:55kagad
10:55ang taong
10:56bayan,
10:56110 kagad,
10:57two weeks,
10:58and nandung pa
10:58ang binenta ninyo
10:59i-sarili nyong
11:00inventaryo.
11:01So,
11:02it is the public,
11:03it is the poor public,
11:04and si Mr.
11:06Boss,
11:06ano nang pangalan mo?
11:08Si Mr.
11:09Balbuena kanina
11:10pa naglulupasay.
11:14So,
11:17Mr. Chair,
11:18Mr. Chair,
11:24we're not saying
11:25that
11:25that is right
11:27in the
11:28business,
11:29the way it's
11:29now deregulated.
11:30But you're not
11:31answering my question,
11:32Director.
11:33Sagutin mo muna eh.
11:35It's the
11:353 billion
11:36pesos
11:37per day.
11:39One month lang ito eh.
11:41So,
11:41per day ito,
11:423 billion.
11:43Yes,
11:43Mr. Chair,
11:44if the perspective,
11:45because it's a matter
11:46of perspective,
11:47if the perspective
11:47is to
11:48ensure
11:49that the
11:50seven days
11:52used up
11:53this week
11:54will be replaced
11:55by next week
11:56immediately,
11:57then the oil company
11:59has to collect
12:00that
12:00level of
12:01collection
12:02to be able
12:04to purchase
12:04the seven days
12:06replacement
12:06so we can
12:07always go back
12:08to the 45
12:09to 50 days
12:10supply.
12:11But if the
12:12perspective,
12:13again,
12:14if the perspective
12:14is you want
12:15to use up
12:15the 53
12:16before you
12:17replace it,
12:19and that is
12:20very dangerous,
12:21then
12:22I think we can
12:23exhaust the 53
12:24at that lower price.
12:26But the problem
12:27is if
12:28their gun
12:29and the
12:30collection
12:30is very low,
12:32you can
12:32no longer
12:33replace the
12:3353
12:35days.
12:36So,
12:37it's really,
12:38that's how
12:39they're explaining
12:40also,
12:42Caltex
12:42was also
12:43explaining that
12:44in the same way.
12:44But you're
12:45proceeding
12:46from the wrong
12:47premise.
12:47Ang sinasabi
12:48ko mulat
12:48mula pa,
12:49ang pinag-uusapan
12:50ninyo,
12:50maps and
12:51indicators
12:51coming from
12:52the Argus,
12:53okay?
12:54Yun ang
12:54basis
12:55ng replacement
12:56cost,
12:57okay?
12:58Ito yung spot
12:59market ninyo,
13:00itong trading
13:00floor ninyo.
13:02Ang sinasabi
13:03ko,
13:04after two
13:05weeks pa
13:05lang,
13:06and considering
13:07na meron pa
13:07kayong 46
13:08days and
13:0953 days
13:10for diesel
13:10and gasoline
13:11respectively,
13:13kumulikta
13:13na ng
13:143 billion,
13:15kumita
13:16na ng
13:163 billion
13:17pesos
13:17per day,
13:18which
13:19was bankrolled
13:20by the people
13:20themselves.
13:22This is
13:22the irony.
13:24Ngayon,
13:24ano yung
13:25role ninyo
13:26in the
13:27period of
13:27emergency
13:28and national
13:29interest
13:29is involved
13:30already?
13:31Eh,
13:32pati,
13:32pinag-uusapan
13:33pa natin
13:33yung replacement
13:34cost na
13:34kagad.
13:35Ito muna
13:35ang sagutin
13:36ninyo,
13:36is it
13:37reasonable?
13:38Is this
13:39reasonable
13:39in two
13:40weeks'
13:40time?
13:41Mr.
13:42Chair,
13:42again,
13:43it's a
13:43matter of
13:43perspective.
13:44When the
13:45law says
13:45that we
13:46may direct
13:46the
13:47operation,
13:48we have
13:49to be
13:49mindful of
13:50the,
13:51again,
13:51on price,
13:52we have
13:53to be
13:53mindful
13:53of
13:55allowing
13:56the oil
13:56company
13:57to be
13:57able to
13:58replace
13:58it on
13:58a weekly
13:59basis.
14:00saran natin
14:00ang argumento.
14:02Did you
14:02check the
14:03oil
14:04companies?
14:05Kinuha nyo
14:06yung document?
14:07Kanino yung
14:07binili?
14:08Makikita nyo ba
14:09kung magkano
14:10binili?
14:10Did you
14:11check that?
14:13Have you
14:13done that?
14:16Not in that
14:17time?
14:18Eh,
14:18paano
14:18mo sasabihin
14:19ngayon?
14:21Katungkulan
14:21nyo nga
14:21yun,
14:22if you
14:22are
14:22screening,
14:23if you
14:23are
14:23monitoring,
14:24okay,
14:24sabihin
14:24na natin
14:25replacement
14:25cost.
14:26O,
14:26hali
14:27kayo
14:27mga
14:27kaibigan,
14:28pwede
14:28nyo
14:29bandalin
14:29yung
14:29inyong
14:29mga
14:31ICP,
14:31tingnan
14:32natin
14:32kung magkano,
14:32saan
14:33nyo
14:33binili?
14:34Binili
14:35natin
14:35kay ganito,
14:36ito
14:36po yung
14:36presyo,
14:36at least
14:37chinik
14:38natin.
14:39Now,
14:39I am
14:39masking
14:39yun,
14:40nag-check,
14:40sabihin
14:41nyo,
14:41hindi.
14:42So,
14:42ano yung
14:42monitoring?
14:47This is
14:47the frustration,
14:48Mr. Chair.
14:50Salamat po.
14:52Mr. Chair?
14:53Senator,
14:54ah,
14:55si Mr.
14:56Balbuena,
14:57you want to
14:57interject?
14:58Ah,
14:59ba't ka aalis
14:59kung frustrated ka,
15:00wala kang sagot
15:01na nakuha?
15:02Ah.
15:03Huh?
15:05Bakit ayaw?
15:06Eh,
15:06kanina pang ilang
15:07oras na tayo
15:07dito,
15:07wala pa rin
15:08sagot?
15:08Mr. Chair,
15:08go ahead.
15:19Oh,
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