Oil firms seek audience with Arroyo over EO 839

Executives of oil firms sought an audience with President Gloria Macapagal Arroyo Thursday in a bid to have her lift an executive order freezing fuel prices in Luzon. In full-page newspaper advertisements, the oil firms’ executives appealed to President Arroyo to do what is “right" and not what is “popular," and lift Executive Order 839. “Madame President, we humbly request that you allow us to discuss these matters with you and to explain our side and how we can better assist those who are really in need of support, without damaging the economy and driving away investors. We know that everyone wants low prices and this is a popular move for now. But you have always said that your objective is not to be popular but to do what is good and right for the country," they said. The ads were placed in Metro Manila newspapers including the Philippine Daily Inquirer and the Philippine Star. But militant transport groups warned Malacañang they will hold protests once Mrs. Arroyo lifts the executive order. “Kung itataas ng oil firms ang presyo ng langis oras na i-lift ang EO 839, magsasagawa kami ng malawakang kilos protesta (If oil firms jack up prices of their products once the EO is lifted, we will stage nationwide protest actions)," Pinagkaisang Samahan ng Tsuper at Opereytor Nationwide (Piston) secretary general George San Mateo said in an interview on dzBB radio. Mrs. Arroyo had signed Executive Order 839, effectively freezing prices of fuel products in Luzon, which is under a state of calamity due to cyclones Ondoy (Ketsana) and Pepeng (Parma). The EO ordered that fuel prices be kept at October 15 levels. Among the oil firm executives who signed the ads appealing for the lifting of the executive order were: * Dean Lao Jr., COO (chief operating officer), Chemrez Technologies; * Fernando Martinez, chairman and CEO (chief executive officer), Eastern Petroleum Corp. * Joey Cruz, VP for retail marketing, Flying V, TWA Inc. * Orly Casa, CEO, International Engineers Philippines Inc. * Patrick Libañol, president, Liquigas Philippines Corp. * Sally Monteiro, executive director, Philippine Institute of Petroleum * Edgar Chua, chairman and president, Pilipinas Shell Petroleum Corp. * Salvador Escano, CEO, Pryce Gases Inc. * Siripang Phoungpaka, president and CEO, PTT Philippines Corp. * Glenn Yu, president and CEO, Seaoil Philippines Inc. * Kathleen Santiago, president, Total Dealers Association * Ernst Wanten, president and managing director, Total Philippines Corp. * Mary Ann Sy, president, USABB, Filpride Energy Corp. The oil firm executives said that while they were one with Mrs. Arroyo in wanting to help victims of recent cyclones Ondoy and Pepeng, freezing the prices of fuels throughout Luzon will not help. Such a move “carries disastrous short- and long-term risks for the whole country, including eventually the very people we want to help," they added. It also poses an “imminent danger to the economy, business and employment" and “far outweighs the intended benefits," they added. “(This is) not intended to blackmail government nor to sabotage the economy but simply to advise what the consequences of EO 839 will be," they said. On the other hand, they said the oil firms’ books had always been open to the public because the firms regularly submit financial statements to the Securities and Exchange Commission. In their ad, they said the energy department already formed two independent commissions in 2005 and 2008 and found nothing irregular in their books. In a bid to defend the EO, Malacañang earlier said there is no conflict between a new order and the oil deregulation law. [See: Palace defends EO on oil-pirce freeze] The Palace, however, said it will leave to Energy Secretary Angelo Reyes the task of identifying and punishing oil firms that will violate the EO. - GMANews.TV