Press Release
November 18, 2009

ROXAS SEEKS DOE EXPLANATION FOR REFUSAL
TO REVIEW BIG 3 BOOKS

Senator Mar Roxas today demanded an explanation from Energy Secretary Angie Reyes for continuously rejecting calls for a review of the financial records of giant oil industry players amid their claims of dwindling oil stock and loss of income due to the recent freeze on fuel prices.

Roxas, chairman of the Senate trade and commerce committee, said the current oil crisis should have been prevented had Reyes did his job and insisted on examining the books of Shell, Petron and Caltex/Chevron to determine the veracity of their claims.

"Bigo ang gobyerno na gawin ang trabaho nito. Bakit ba ayaw ni Secretary Reyes na pilitin ang pagbubukas ng libro nitong mga kumpanyang ito? Nakasaad sa batas na maaari niyang rebyuhin ang totoong estadong pinansiyal ng mga ito. Ano ba ang totoong dahilan at ayaw niya itong gamitin? (The government has failed to do its job. Why has Secretary Reyes not used his power to review the records of these companies? The law allows him to review these firms' real financial status. What is the real score in Reyes' inaction?)"he asked.

He added: "Kung kakailanganin, pisikal na inspeksyunin ng gobyerno ang imbentaryo ng mga oil companies para malaman natin kung totoo ba o kunwari lang ang sinasabi nilang low supply."

Roxas had been urging oil companies to significantly bring down the prices of their oil products. He had also been calling on Reyes to compel the oil firms to open their financial books for determination of their real income.

He noted how Reyes had balked at and set aside his appeal, engaging the oil companies instead in alleged 'dialogues' to 'convince' them to voluntarily bring down the prices of gasoline in the country.

The Visayan senator said Reyes should not to slacken in its duty to closely monitor the activities of the oil industry's big players, stressing the public has the right to know if the retail costs of fuel are correct or if there is over-pricing.

"Tinanggal na nga ang EO na nag-fi-freeze sa presyo ng langis pero hindi ibig sabihin nito na pababayaan na lang ng gobyerno na lamangan ng mga oil companies ang mga konsyumer," Roxas also said.

He added: "Uulitin ko. ang trabaho ng gobyerno, siguraduhing pantay ang laban, na hindi niloloko ng malalaking kumpanya ang mga konsyumer."

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