Boycott the Big Four (Petron, Shell, Chevron, Total)= Cheaper Local Oil Prices?

**jpdm** · August 5th, 2008 08:28 PM

Originally Posted by gymbluff

it's so obvious that the Big 3 made big bucks out of the present situation. imho, they only deserved to be investigated.

hmmmm...speaking of investigation....

Arroyo orders ‘intensive’ audit on oil, power firms
By Lira Dalangin-Fernandez
INQUIRER.net
First Posted 13:06:00 08/05/2008

MANILA, Philippines -- (UPDATE) [SIZE=3]President Gloria Macapagal-Arroyo has ordered the Department of Energy (DoE) to do an "intensive audit" on oil and power companies to determine if the current prices of oil were justified given the downward trend of oil prices in the world market.[/SIZE]
[SIZE=3]
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[SIZE=3]"There is now elasticity in prices of oil in world market, there is already downward movement in the past yet despite this oil companies continue to increase their prices because of under recovery.[/SIZE] . . . The objective of the audit is to ensure that consumers will benefit from the actual prices of oil in the world market," Presidential Management Staff chief Cerge Remonde said in a news briefing Tuesday.

Remonde said the President made the order during the Cabinet meeting Tuesday of the NEDA Cabinet group and the price coordinating council and power and oil councils in Malacañang.

Without giving a deadline to the DoE, Press Secretary Jesus Dureza said the President wanted the public to immediately enjoy the benefits of lower pump prices.

[SIZE=3]"We know there is volatility [in prices of oil], but what the
President wants is if there is reduction, it must immediately be passed on [to the consumers],"[/SIZE] Dureza said in the same news briefing.
Remonde said agencies such as the Commission on Audit (COA) might be tapped to help the DoE do the audit.

He acknowledged that there were ongoing efforts by the DoE to look into the books of oil firms, but stressed that the President wanted a "more strict and tedious" audit this time.

Asked if the order was brought about by suspicions that oil firms were charging too much, Remonde said, "It's not really suspicion, let's say it's part of government's due diligence."

"Oil companies are saying they are having under recoveries, the government is doing its job of checking if it's true," he added.

Oil prices fell by more than $1 to near Monday's three-month low below $120 a barrel in a sharp retreat from a record above $147 touched in mid-July, on signs of rising output from the Organization of Petroleum Exporting Countries (OPEC) at a time of declining world demand, reports said.

Despite this, oil companies in the country rolled back its pump prices twice since last month after implementing an increase for about 20 times since January.

Hmmm....may naamoy din ang Malacanang na mabaho mula sa oil companies??

Bakit yung iba nag-post sa thread na ito walang naamoy....barado siguro ilong....sa tapang ng langis ng mga gasolinahan

at ang kapakanan lang ng oil companies ang alam at walang pakialam sa mga consumers

Bato-bato sa langis tamaan wag magagalit

**Monseratto** · August 5th, 2008 10:01 PM

Nothing more than just another pa-pogi "investigation" kuno for mass consumption. The goverment cannot dictate the prices to the oil companies. What if they "find" something fishy? Do you expect Gloria to kick out the oil companies and then give you free gas? BIG DEAL! Get a life...

**uls** · August 5th, 2008 10:36 PM

Pansin nyo those of us who are familiar with what went on in the global markets the past year do not blame the oil companies?

Those who have no idea what went on in the global markets are the ones who blame the oil companies for high fuel prices.

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There is now elasticity in prices of oil in world market, there is already downward movement in the past yet despite this oil companies continue to increase their prices because of under recovery. .

Seems like hanggang ngayon, meron parin hindi maka intindi na ang crude oil na nirerefine sa bansa ngayon ay nabili nung kamahalan pa ng presyo. (May, June)

Ung mas murang crude oil ay parating palang... isa o dalawang buwan pa bago madedeliver sa Pinas.

Mahirap ba intindihin yun? Tagalog na yan.

"We know there is volatility [in prices of oil], but what the
President wants is if there is reduction, it must immediately be passed on [to the consumers]

minamadali ng presidente ang pagbaba ng presyo ng fuel kasi napakababa na ng kanyang popularity rating.

It's amazing how some people can't see right thru what the president is doing...

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Mukang bilib na bilib ang isang tao sa Malacanang...

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I'm sure the DoE people are not stupid. They know how the local oil industry works.

Im sure the oil companies have explained everything to them over and over... from Mean of Platts Singapore (MOPS) pricing, cost of shipping the crude oil to the Philippines, refining costs, down to the computation of pump prices...

They know the oil companies are not profiteering, they know the oil companies have under recoveries...

But the govt people have to put up a front that makes them look and sound pro-poor, pro-masa in front of the TV cameras.

**empy** · August 6th, 2008 06:48 AM

Originally Posted by uls

haha

hirap talaga maging multinational no?

ung kinita mo dito hindi mo pwede ilabas...

Ang gobyerno todo ligaw sa mga foreign investor.

"sige na pleeeez, invest kayo dito"

Yun pala pag kumita na ang mga foreign investor, di nila pwede i-remit sa head office nila ang kinita nila.

Whatda?!!!

Kung ganun, wala na foreigner ang mag iinvest dito.

Populism will bring down the Philippines.

The anti business, pro poor agenda of the local media and politicians will flush the Philippines down the toilet.

it's already happening.

i work for a big multinational with interests in the Philippines (not oil

), and i can tell you for certain that it's a concern. we speak to other companies in the industry and they have the same concerns about the Philippines.

**empy** · August 6th, 2008 07:24 AM

Originally Posted by jpdm

hmmmm...speaking of investigation....

Hmmm....may naamoy din ang Malacanang na mabaho mula sa oil companies??

Bakit yung iba nag-post sa thread na ito walang naamoy....barado siguro ilong....sa tapang ng langis ng mga gasolinahan at ang kapakanan lang ng oil companies ang alam at walang pakialam sa mga consumers

Bato-bato sa langis tamaan wag magagalit

honga

pero sa palagay ko mas mabuti na barado ilong kesa sa barado utak. just because someone doesn't agree with you, doesn't mean that they are in the pocket of Big Oil. they may simply....just not agree with you.

wag ka rin sana magalit

**theveed** · August 6th, 2008 08:06 AM

http://www.malaysianbar.org.my/opini...sel_hikes.html

They appear to have lots of time to do so since some of them are regulars at such gatherings, usually backed by the Opposition, including elected representatives.

Their latest excuse for holding such demonstrations is the surge in petrol and diesel prices. This is a much better issue to use to attack the Barisan Nasional government than fair election, freedom, and ISA among others.

Naive Lemmings hehehe

**uls** · August 6th, 2008 09:51 AM

Originally Posted by empy

it's already happening.

i work for a big multinational with interests in the Philippines (not oil

), and i can tell you for certain that it's a concern. we speak to other companies in the industry and they have the same concerns about the Philippines.

that's sad.

Poverty is the cause of the anti-business sentiment here.

People here resent anyone who is better off than them... that includes companies.

i always hear people say "dapat walang mayaman at mahirap, dapat lahat ng tao pantay pantay"

And "lalo yumayaman ang mga mayaman, samantala ang mga mahirap lalo naghihirap"

People can't get out of poverty, so they want to drag other people down.

They'd love to see businesses and rich people suffer.

The really sad thing is, the mass media and politicians are patronizing the masses. To gain ratings and popularity, the mass media and politicians have taken on an anti-business stance.

Notice how the media and politicians have been harassing the oil companies here.

No wonder there's capital flight.

**uls** · August 6th, 2008 11:10 AM

and if i may add...

The masses do not see investors as job creators. They see investors as exploiters.

Tingin nila sa investors kaaway.

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we have a customer... well, HAD a customer... an Australian mining company called Lafayette.

They used to operate a mine in Rapu Rapu island... somewhere in southern Luzon.

They have been constantly harassed by activists and politicians ever since they began operating.

They shut down.

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I think they will resume operations again.

i guess some people realized later (AFTER the company shut down) that losing jobs and tax revenues isnt fun.

**empy** · August 6th, 2008 11:27 AM

^hindi pa naman lumalayas yung mga companies that i am referring to, buti na lang :sweat: the factor costs are still too good :D

but they really need reassurances from the government and the people that they are not at risk...

**uls** · August 6th, 2008 11:50 AM

Well, u can count on one thing the Philippine govt can do...

it's change the rules in the middle of the game...

that's one major complain of foreign investors...

Policies are governed by whim.