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The 56 billion ringgit question PDF Print
Wednesday, 04 June 2008 19:54

Firstly - Malaysia is a net exporter of crude oil. So the government did NOT subsidize our petrol. The RM56 billion 'subsidy' per year is the extra amount that the government would have earned if it had exported all of our oil production. There is no 'spiralling bill', the government did not lose any money because it is our own oil and we are not paying anybody for our oil supply.

Secondly – when the government scrapes the so called 'subsidy' that it did not pay any money for in the first place – it is forcing the rakyat to buy back our own resources at a much higher price. Each and every one of us will suffer because of this, especially the poor.

The hike in oil prices has not caused hardships to our government. On the contrary it has already earned record profits for Petronas. And now our government is going to squeeze even more profits by squeezing the rakyat. Put it more blatantly, the Barisan Nasional government will get filthy rich form the blood money of the rakyat.

Now the 56 billion ringgit question....

READ MORE HERE

Comments (74)Add Comment
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written by eagle22, June 04, 2008 19:58:05
Hope to recover some like the movie " THREE KINGS " after BN kicked out.
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written by amjoem, June 04, 2008 20:01:06
Sorry mate, it has been swallowed by the corrupted UMNO putra cronies from the time of TDM. AAB's cronies are continuing it now. This will never stop as long as the BN or UMNO is in power. Anwar now is the time. It is now or never. Go for it.
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written by macaufan, June 04, 2008 20:02:04
come on lah malaysian, don b so naive lah.... d $56 billion is for umno/bn regime 'makan' one lah brader !
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written by technoboy, June 04, 2008 20:02:23
Yeah, by now all petrol kiosk nationwide is experiencing long queue.

UMNO is going to rebuild its lost ground by using the extra RM56 billions it now have control of without having to account to the nation and rakyat how the funds are being used, just like what they did with NEP, only UMNO corrupted elites will benefit. Who can verify the so call cash back to those who deserve it, didn't NEP had this noble objective and what happened after 30 years? So BN government under UMNO is once again using a new ploy under the pretext of fuel subsidy to rob and cheat the rakyat. Great ploitical move, but the rakyat must take note that this is all for UMNO's political survival and for those corrupted to stay in power.
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written by hitam had, June 04, 2008 20:02:54
Wow, what a stroke of genius! Get the Rakyat instead of the Government to pay the subsidy directly to the oil refiners!!

Pax.
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written by briantanchinyeam, June 04, 2008 20:04:32
We as a Malaysian must do something on this matter,or else these arrogant UMNO led govt will slap us again by increasing the petrol price again and again....kick their ass.
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written by Hope4all, June 04, 2008 20:07:29
Rakyat tidak bodoh!

Cuma kerajaan ingat rakyat bodoh aje... Duit Petronas sudah dirompak, duit rakyat juga nak diambil... main politik lagi..

Rakyat tidak bodoh!
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written by Democrats, June 04, 2008 20:08:07
TOMORROWS HEADLINE 1: PETROL INCREASE BY 78/sens per litre.

TOMORROWS HEADLINE 2 : ISKANDAR MALAYSIA gets 56 BILLION investment boost.

Right Pocket, Left Pocket not the same. Headline 1 : Sharir looks BAD, Headline 2 : PAK LAH looks GOOD.

Funny, I kinda knew petrol was up for a super huge increase when he appointed Sharir to be Minister of Consumer Affair, and that he would have to break the news to the RAKYAT, thinking sharir is less hated by the people.

Now they are so smart they are all in hiding for a "get away brain storming issue".

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written by technoboy, June 04, 2008 20:11:11
duplicate.
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written by technoboy, June 04, 2008 20:13:09
AMENDMENT - SHOULD BE RM56 BILLIONS INSTEAD OF RM56 MILLION!

Hello Sharir, we should stop all foreigners from entering Malaysia, the reason is simple, the minute any foreigners enters Malaysia they are enjoying subsidies from all front, food in restaurant were prepared using subsidied cooking oil, rice, etc and drinks are using subsidied sugar, taxis using subsidied fuel and even investing in projects like IDR are at subsidied prices as compared to countries like Singapore, so how to stop foreigners from enjoying our subsidies, totally ban all foreigners lah! Cannot understand the idiotic logic of BN/UMNO economics. The only logical explanation for removing fuel subsidy is for UMNO crooks to enlarge their coffer by RM56 million for their own selfish political motive.
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written by alpha100, June 04, 2008 20:16:05
Oil price increase i expect but Electricity going to increase by 18% for household. This is something i don't expect. A double whammy????
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written by Watcheyes1, June 04, 2008 20:26:54
I'm not an expert but i do have logicness. So what i do not understand is what the government mean by "sibsidize"? Why they buy from Petronas? Why Petronas is a private company own by some foreign country? Bullshit!!!! We produce our own oil and export it. This it self give profit to the government. And we as the rakyat should be paying very low price like in Saudi. Yes it is understandable that we had to pay high price if we are importing oil because of the market price.

Mana ada logic naik harga di negara sendiri kerana harga market naik? Lu bukan beli minyak, lu JUALLAHHHHHHHHHHHHHHHHHH!!!

Kalau macam ini, nanti minyak habis, mampus lah. Ada minyak sendiri pun kena bayar macam mahal, nanti habis kena bayar RM10/liter!!!!Aiyoooo!!Bankrup lah kita!!

Get rid of BN before the poverty line is raised to below RM10,000 just because of oil!!! DSAI take action fast before we explode in tension!!
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written by Littlebird, June 04, 2008 20:27:58
I thot b4 election BN said NO FUEL HIKE!! smilies/angry.gif smilies/angry.gif smilies/angry.gif smilies/angry.gif
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written by sarawakian, June 04, 2008 20:28:15
electricity tariffs going up is just the tip of the iceberg. raising fuel prices will cause everything to follow suit. deliveries cost more so expect EVERYTHING to go up in small or larger amounts.

be prepared for really tough times. i wonder how a gov't servant with RM 1200 salary can afford to drive his/her gas guzzling Kancil to/from work. kids school bus fares will go up. food prices are up.
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written by cwy, June 04, 2008 20:29:18
Don't you see that all the ministers under Mahathir's leadership are damn rich.
Their spouses have fat account in oversea banks.
According to FORBES, Mokhzani Bin Mahathir is 20th richest man in Malaysia!
Will ACA investigate when PR takes over the government?
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written by ksmaniam, June 04, 2008 20:32:43
If i am not wrong, the reason is our oil is sold by petronas as an entity. After which petronas as an entity pays tax royalty etc. However the petrol we use is bought by the private companies from other parties and petronas. So if the gov does not subsidise, ie they need not pay this people. Now they will pay the rakyat directly. I suggest that these subsidies is also given back to rakyaat in the form of free 100% tertiary education, free 100% health benefits for any disease including heart, kidney dialysis, cancer etc (which is presently payable by) for malaysians. Abolish road tax for motorbikes and cars below 2000cc. perhaps,then we will not feel the pinch of the increase of the petrol price. Otherwise, let pr rule.
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written by Littlebird, June 04, 2008 20:34:28
Actually PR sakit kepala if they take over the governemnt. Dunno what secret Petronas is hiding. And our oil is soon going to dry up. Further, with 2 or 3 big meny genrating states in PR's hands, BN got no choice but to suck dry of every available penny from Petronas. They also know eventually the truth about toll agreement going to be known to public which would result in toll reduction. So government need to find other source for income. Remenber, DSAI said that toll income shared from Perlis to johor. Malaysian are just plain stupid for living in false sense of development and prosperity when all this while we were living on "borrowing".
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written by budakindia, June 04, 2008 20:34:32
marilah kita sama-sama berpadu tenaga, janganlah ada lagi perpecahan. Kita mulakan langkah memboikot segala instrumen kerajaan.
langkah yang dicadangkan:
1) Jangan beli kereta-kereta baru terutamanya buatan Malaysia. Pakai aje kereta yang lama. Impak: industri kereta nasional dan insurans.
2) Jangan beli suratkhabar tempatan.Impak: Media yang dikuasai kerajaan.
3) Kurangkan rokok, minuman keras. Impak: Syarikat rokok dan cukai kerajaan.
4) Berurusan dengan bank asing. Impak: Bank tempatan.
5) Jangan menderma untuk kempen-kempen yang dianjurkan oleh kerajaan. Impak: Kerajaan.
6) Kurangkan atau beralih kepada syarikat-syarikat yang mempunyai hubungan dengan kerajaan.Impak: GLC
7) Jangan beli minyak dari Petronas. Banyak lagi pilihan. Impak: Petronas.

Banyak lagi yang boleh kita lakukan untuk memboikot kerajaan Abdullah Hj. Ahmad ini. Langkah-langkah ini memberi kesan kepada kerajaan sebenarnya sama ada menyebabkan kerajaan terpaksa mengawal pengaliran wang atau kerugian besar! smilies/angry.gif
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written by mwrmmg, June 04, 2008 20:38:08
Firstly - Malaysia is a net exporter of crude oil. So the government did NOT subsidize our petrol. The RM56 billion 'subsidy'


We import our petrol from the middle east. And we have to buy them in USD. Currrently at approx USD 135 per barrel .
Its due to the weakening USD and the oil cartel trade in USD.

So we buy at USD 135 p/Barrel and sell it less than USD 135.

Unless the oil is traded in other forms of exchange, this will be a continuing pattern towards USD 200 per barrel by 2010.

That 56 B should be invested in public transport.
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written by Tan Tan, June 04, 2008 20:41:27
I seriously believe it is time to change the government.

Even after the 12th election, I still believe that BN should leads Malaysia with a more check and balance from opposition.

But they are killing themselves day by day. This petrol hike is a political suicide for BN, UMNO and PM.

I am an average Malaysia who appreciate BN for their efforts in our country despite their many shortcomings. But this price hike is really a killer for them. I still want them to be government but with this price hike, it clearly shows me that my believe is way too naive because this is seriously hopeless for this BN government.

Can you imagine with petrol increase and electricity increase, what will happen to our economy? Can you imagine the inflation rate?

Yes, we can increase petrol but did the government first do a good job by increasing our currency value to soften the impact? Did the government first consider that all Malaysians pay will increase to cushion the price hike?

Can any private sector company increase 15% of all their employee salaries within this year? Of course NOT!

BN just committed suicide!
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written by alarcarte, June 04, 2008 20:42:49
A lot of those money is going to end up in UMNOPUTRAs pockets, the only solution is to topple them in the next general election. Mean while looks like all of us should buy those little "KAP-CHAIs" and ride to work and possibly polute Kuala Lumpur with fumes ans noise.
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written by Thesinner, June 04, 2008 20:44:01
It only happened in Malaysia because we have ****ed-up PM,TPM and Ministers.If other oil producer countries can sell petroleum so cheap to their own people why can't we do the same?

Owhh sorry . I forgot their IQ may be less than 60..can't blame them actually!
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written by L7Awesome, June 04, 2008 20:44:27
Those UMNOputras... Really hope that there will be changes soon else we will all be broke
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written by lynn, June 04, 2008 20:47:14
mwrmmg, who are we to tell the umno-led govt to invest in public transport?
It's too late, isn't it? The infrastructure shld have been in place 10 or 15 yrs ago.

Anything that benefits the man-on-the-street only w/o benefiting cronies handsomely, the govt is not going to carry out. But if projects can line some pockets by hundreds of millions, they will give us super highways & collect hefty endless tolls. That's the deal.

The reason the govt dare to raise petrol price now inspite of expected angry sentiment is because they are going to remain in power for the next 4-5 yrs. Anwar will not lead PR & take over. The frogs are not jumping anymore. They are counting millions so their activity of jumping over ceased & the millions will come from the 56 billions.
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written by advocatusdiaboli, June 04, 2008 20:47:26
Can anyone do a comparison of fuel prices in oil producing countries and see the difference. How much does fuel cost in the oil producing Arab nations and also Venezuela in South America? Anyone? I will appreciate it. Thanks
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written by kooiseng, June 04, 2008 20:52:16
This country is full of natural resources but the rakyat is still "poor". Why? Because of the UMNO pirates who steal the country's money and our pocket money. Now more UMNO pirates will get richer. This country is going to the dogs.
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written by taxi90, June 04, 2008 21:00:20
People,
By tomorrow, suffering in Malaysia will go up 10 fold. Petrol increases, Tenaga tariffs will increase, all transportation will increase, thus commodity will increase, raw materials, food items,ie the whole shebang will increase. Mee goreng will cost $10 given enough time.
And for what? To 'decrease' government subsidy? No, because the government does not pay A SINGLE CENT for any of the oil. They sell it for hefty profits. It is to increase UMNO subsidy. And that's what all the suffering people will be doing from tomorrow - to add to UMNO coffers so that they have more money for their despicable cronies, corruption, patronizing the wrong people, and to find ways to end the PR government.
Enough is ENOUGH! Bring them down now!
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written by DannyLoHH, June 04, 2008 21:03:31
I think I smell a fund raising exercise here by BN. The saving of RM56 billion is more than enough for them to pay all the MPs to stop them from hopping over to PR... then again, I'm only interjecting.
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written by jagz, June 04, 2008 21:03:44
taxi90..

electricity prices are already increased (announced by non other MR STUPID SLEEPY HEAD) .. icreasing 18%!!!
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written by br_teacher, June 04, 2008 21:06:04
Damn you, stupid gomen...bodohwi smilies/angry.gif smilies/angry.gif smilies/angry.gif
you put all the rakyat at war each time you raise the petrol price!!!
just look at the long queue at all the petrol station all over malaysia...don't you have a better idea of annoucing the price hike news?????? smilies/angry.gif
why must let the rakyat facing the tsunami fenomenon made by you? STUPID BODOHWI, BN GOONS!!! smilies/sad.gif smilies/shocked.gif smilies/shocked.gif
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written by Uncorruptible, June 04, 2008 21:07:37
Good news for those who voted umno/bn - THIS IS YOUR REWARD !!!
And its just the begining. Tolls will also naik. The kast round of price increases is only 30 days ago. Now the next round of price increases begins. THANK YOU FOR VOTING FOR THE CURSED umno and bn !!!
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written by alarcarte, June 04, 2008 21:16:33
Owhh sorry . I forgot their IQ may be less than 60..can't blame them actually!
====================================
Hello The Sinner, Even Orang Hutangs have IQ more than 60-lah.
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written by ez24get, June 04, 2008 21:16:34
It makes stupid sense to make a small amount of cash repayments to a small portion of the citizens but the cost of tolls, food, goods and services keep on escalating. I don’t know whether they are aware that not all registered owners are the actual users of the vehicle and how the repayments could go to the actual persons intended.

This way of abrupt petrol price increase would be disastrous to the nation and once the negative chain reactions (stock market crash, run away inflation, economic slowdown, corporate under-budgets, etc) happen, the nation might not recover from it for a long time.

It is haphazard decision hastily decided by a low calibre Badawi cabinet. An important decision of this nature which has a rippling effect on the whole nation show be studied by a competent team of economist, academicians and thinkers, not by shallow thinking cabinet ministers!

The present UMNO regime has hoodwinked the citizens long enough by just comparing the petrol price with selective non-oil producing countries without taking into consideration the related travelling cost and the cost of living!

Logic will tell you that a fisherman cannot have a same cost of fish as his neighbour who is a farmer!

Meanwhile, oblivious to others, UMNO will be splurging the oil revenue by spending on themselves, their cronies and on other less prioritised projects!

UMNO realised that it may be their last term in power and used the opportunity to enrich themselves as much as possible before they are kicked out by the rakyat!

Only the kampong folks may be duped by UMNO on the annual petrol rebate! The citizens have had enough of the half-truth of UMNO!

The citizens demand transparency on the accounts of Petronas and how were these revenue been used! Petronas is not “bapa punya” of UMNO – it belongs to every citizens of Malaysia!
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written by naturelive, June 04, 2008 21:26:08
Now let us compare the price with OIL PRODUCING countries

UAE– RM1.19/litre
Eygpt– RM1.03/litre
Bahrain– RM0.87/litre
Qatar– RM0.68/litre
Kuwait– RM0.67/litre
Saudi Arabia– RM0.38/litre
Iran– RM0.35/litre
Nigeria– RM0.32/litre
Turkmenistan– RM0.25/litre
Venezuela– RM0.16/litre
MALAYSIA– RM2.70/litre

This is what we get...
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written by shamadz72, June 04, 2008 21:33:09
written by naturelive, June 04, 2008 | 21:26:08

Now let us compare the price with OIL PRODUCING countries


-----

Don't forget to also compare how much toll charges and car excise duty rate is compare to Malaysia. The different is more a less the amount BN is pocketing from us.

PS: (sorry... 'pocketing' is a mild word. The right word will be 'robbing')


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written by Concerned_Citizen, June 04, 2008 21:33:45
Where the hell did the money go?

Ask TDM, I think he has the most correct answer. Then go and ask Badawi, he too can give you a clever answer. If he couldn't then Kuran aJar would assist you.
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written by future, June 04, 2008 21:36:38
I will never trust a word that comes out from this Imam Hadari
and his cabinets anymore.They never kept their words and fullfill their
promises and their main concern is to stay in power to protect their
families and cronies.
Insyaallah......YOU Abdullah and UMNO will fade away very soon.
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written by clarity, June 04, 2008 21:38:07
The rakyat demands to know details of the contract signed with Japan regarding the supply of GAS. Apparently the agreement is for a long term period which started some 4 years aga at the price agreed at that time. Who agreed on the price and how much are the rakyat losing out of it at today's price. In proportion to the price in oil, the rise must be phenomenal.
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written by ez24get, June 04, 2008 21:40:08
Which stupid idiot equates rich or poor with the cc of the vehicles?

An average office clerk may own a second hand proton Iswara costing $7,000 (rebate = $625)

While Robert Kuok’s children can own a fleet of 10 new cars of BMW, Audi and Volvo all less than 2000cc costing $2 millions and get a total rebate of $625 x 10 = $6,250!

This stupid minister claims that this policy helps the poor more than the rich? I think his brain should be equated to the cc of cars!
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written by freespeecher, June 04, 2008 21:41:04
Oh my gosh....Pakatan Rakyat please hurry up take over the government of Malaysia before BN destroy my beloved country beyond repair....stupid corrupted BN !
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written by myke, June 04, 2008 21:48:14
The only way to have a check and balance is having PR to be the federal government. Then PR can dig all they can about the rot of BN.

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written by teohchye, June 04, 2008 21:56:23
If I am not mistaken, we sell our high quality oil at higher price and buy back cheaper and lower quality oil. Therefore we should be even better off financially since we are sacrificing our environment by using poorer quality high sulphur content oil.
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written by wannabepatriotic, June 04, 2008 22:13:54
I hope the UMNO/BN voters are enjoying and overwhelmed over Bodowi's decision. Don't say we didn't warm you...
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written by Compassion_Seeker, June 04, 2008 22:15:12
So far I had not used any bad words in my comments in MT,but this time I had to...This Country Is **** Up
Dato Seri Anwar please help us...don't wait anymore.By hook or by crook you must take over as the next PM of this nation.
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written by laksa maner, June 04, 2008 22:15:17
The killing UMNO and BN is still there to kill rakyat.

Barisan Rakyat!!! where are you. It is the best time to vote of no confidence.

DSAI move faster. We all Malaysians need you to replace Abdullah Ahmad Badawi URGENTLY.

It is TIME OUT call for Abdullah.

GO ANWAR..GO TDM....GO BR...GO RAKYAT...FIGHT for MALAYSIANS
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written by apa jadi, June 04, 2008 22:17:01
If we could have utilised the 56 billions or more annual profit from the petrol income, just imagine how many billionaires we have by now. Robert Kwok would probably not be working so hard overseas to top the Malaysian Billionaire Club. Some Malaysians would have overtaken Robert Kwok within. Well! Management at work!
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written by laksa maner, June 04, 2008 22:19:30
BN = Bullshit Nationality. That's what they had.
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written by Wisdom above, June 04, 2008 22:22:25
In Future, will Cars be running on water-extracted hydrogen ?

Syabas.
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written by apa jadi, June 04, 2008 22:31:47
Wisdom above,
In Future, will Cars be running on water-extracted hydrogen ?


Back to Flintstones cars.
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written by hiro, June 04, 2008 22:34:42
I shudder to think how the government would expect mamak stalls not to raise the price of roti canai or teh tarik, the coffee shops not to raise the price of teh oh or noodles, or school buses not to raise their fees, for logistics company not to raise their rates.. and at the same time refuse to reduce road tax or excise duty imposed on motor vehicles drastically to achieve the true spirit of AFTA. How they would expect everyone to be austere except themselves. At 40% increase, even the price of the toilet paper will go up.

For the whole article, please see: http://hiroblog2007.********.com/ "Remember this day - black Wednesday"
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written by tradinglobby, June 04, 2008 23:07:34
Now we know why Sleepy PM Bodowi wants to die die also stay on as PM. He knows he only has one more term left to be PM. So, better squeeze as much money from the rakyat for him and his future generations once his term ends! He is not that stupid after all.... His ministers are the ones who are stoooopid!
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written by miracle, June 04, 2008 23:13:06
can someone make police report " BN promise no fuel hike this year during the election campaign" but now... BN lied ...


CHANGE ... IMMEDIATE CHANGE OF GOVERMENT ...IMMEDIATE ... WHAT THE FUK HAPPEND TO OUR COUNTRY ... I FELT THE "CYCLONE" AND "SIXUAN EARTHQUAKE" HERE RIGHT HERE IN MALAYSIA .. AND IT KILLED US THE RAKYAT ...
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written by alberttan, June 04, 2008 23:13:27
Ask yourselves 2 questions:
1. WHY NOW?
2. WHAT FOR?

Hmm, what do YB Anwar, Tok Guru, Kit and even TDM HAVE to "persuade" MPs out of BN? Well, at least Tok Guru can promise a better afterlife lah.

With a 56Billion war chest from the public, NO ONE WILL BE SAFE from the morally corrupt use of the monies, me included. They can buy themselves 28,000 Ezams!!!

MAY THE ALMIGHTY HAVE MERCY ON US!
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written by Raisuri, June 04, 2008 23:14:55
Dear Mr.BN President,

Is that possible to use this money to buy high way?.Is that possible to use this money for modern and effective public transport?Is that possible to use this money to enhance public road?public health?education?.Do you have brain and heart?.I don't need mega project.I don't want to pay toll no more.I want to drive a good car with ABS EBD dual SRS air bag.I don't think we will save just have seattbelt at the back seat.Don't want to go to Hospital Pantai,but HKL will do because I tak mampu.Have you ever come to Public Hospital?Then will never get a clue.Have you ever travel with public transport?Then you will never spot.Have you ever pay for toll?Then you will never unfold.

Dear Mr President and your colleague.Do you brain and heart?
Do you believe in God and your religion?
Are you there or still sleeping?

Dear Mr. Ex President and ex Umno.
Please do something good for us before you go.
Are you fighting for your ego or for Malaysian?

are we there yet?
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written by Sabahfan, June 04, 2008 23:23:06
smilies/angry.gif smilies/angry.gif smilies/angry.gifNO, I NEVER VOTED FOR THE "PROFANITIES" OF UMNO BN LEADERS IN MY ENTIRE LIFE

Always been a DAP sympathiser becos i know the Malazut fkkg UMNO has always cheated the rakyat.

Yeah, long queues at petrol stations tonight...

some of vehicles in the queue even ran out of petrol while waiting in idle mode..

That alone already wasted lots of fuel and cost more global warming in CO2 emissions/polutioon

for all the BN suppporters.... give yourself a big clap, take a bottle and beat your own head until you are dead....

I wont be surprised more than half of those at the petrol queue tonight are BN supproters.... goood for you all ... gooooood for you alll

go kiss your asses goodbye..


Your Bn leaders got plenty of money to burn in space, National service and filling their pockets
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written by mgeo, June 04, 2008 23:33:44
An expanded subsidy story:
Govt. expenses: to consumers for subsidy, to Japan for cheap gas, to IPPs for cheap gas, to toll operators and Proton for cheap loan.
Citizen expenses to govt.: higher car prices.
Govt. income: Oil exports, Car taxes.
Private company income: IPPs, toll, Proton, AP kings.

We seem to be in a big hurry to pump out all our oil, given the current poor support for buses and enthusiastic support for far-away govt. buildings.
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written by mwrmmg, June 04, 2008 23:37:55
Now let us compare the price with OIL PRODUCING countries

UAE– RM1.19/litre
Eygpt– RM1.03/litre
Bahrain– RM0.87/litre
Qatar– RM0.68/litre
Kuwait– RM0.67/litre
Saudi Arabia– RM0.38/litre
Iran– RM0.35/litre
Nigeria– RM0.32/litre
Turkmenistan– RM0.25/litre
Venezuela– RM0.16/litre
MALAYSIA– RM2.70/litre


I didn't know we produce our own petrol...

BTW, those prices above are considered highly subsidized. They can afford to provide petrol at these prices coz they have surplus for local consumption.
ie. Low volume consumption vs. vast oil reserve for world export including To Malaysia.

Their statistics not comparable to malaysia. ( population / consumption vs oil export )

Question now is how do we bring down oil prices. Its not that there's a real shortage. Oil is traded in USD.
So we buy in USD 135 per barrel and sell less ( ie subsidized ) for local consumption.

Most of these oil refiner cartels are american companies and they trade in USD.
And USD is weakening so they pay more USD per barrel.

The weakening of USD also will impose another gripping issue to the world economy. Their financial system is in real crisis and there might be a repeat of 97 economic crisis.

This is 2008, and such crisis now seems to repeat in 10 year cycle - 87 , 97.

Unless there's a change in the oil trade mechanism, the oil price will keep on increasing to USD 200 pB by 2010.

Maybe DSAI can solve this by bringing the world oil price to say, USD 80pB. He will earn a noble prize for this. I'm sure.

He did promise us to lower the fuel prices the moment he becomes PM.

Lets vote PR in the next election. According to DSAI, he should be PM by this september, just after august (duh!) - when subsidy will be fully removed. thats good timing. Malaysians will be fully angered by then and vote him for sure.

Lets vote PR. PR can solve the world's oil crisis. the world will love him. He can then become world leader like the president of the united countries of planet earth. (UCPE)
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written by pkrgulf, June 04, 2008 23:59:07
My points on this:
1) Our Tapis sell at higher premium to imported sour oil from middle east which is used for refining for domestic retail..we have been enjoying this spread that should righfully accrue to the people
2) Excessive tax for cars should be lowered if the subsidy is removed...it is only fair as the people will not be penalised twice
3) Subsidy if the most equitable way of redistribution the people's oil wealth given the low confidence in government's ability to spend it wisely

In short, we need PR to be in power quickly to stop the rot...

ganutulin


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written by cheemengwong, June 05, 2008 00:14:33
I almost kollapse with the new fuel price...

My farking singaporean employer says..

a. work harder so that the fuel increase will not affect us.
b. higher fuel he says less people will drive.
c. it means the road less jam
d. Singaporeans coming to Malaysia will speed.

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written by Tlau, June 05, 2008 00:45:26
Soon we will see more traffic police out to cari makan to subsidise their income.
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written by belljar, June 05, 2008 00:57:20
I was stuck in a jam for 35 mins just bcos there are 2 petrol kiosk on the street that leads up to my house; usually takes only 30 seconds to make that turn. While stuck in the jam I heard some moron over the radio saying that we shud be grateful that our petrol price is still very low and driving is a choice we make. So, we can choose to NOT drive, so dun complaint. This farker called from Melaka ok.

Farker, unlike ppl in developed countries with high petrol prices and good pub. trans, they own a car because of a choice. WE ON THE OTHER HAND HAVE TO DRIVE BCOS OUR PUB TRANS. SUCKS! Actually, it's non existent! So even ppl earning less than RM1000 a month (god knows how they can survive in KL) have to drive to cari makan. SO farker, u tell me how!!
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written by ez24get, June 05, 2008 01:27:03
A fisherman caught a sea bass and cooked it for his son to eat. Before his son could eat the sea bass, the father asked his son to pay up $10.

The son thought that the fish was caught abundantly from nature and therefore at little or no cost, asked his father why.

The father said “son if I buy that fish in the market, the fish would cost you $15. Therefore, you should be thankful that I’m asking you to pay only $10 because I had subsidised $5 for you!”

******************************************************* **************************

Substitute father with Badawi, sea bass with petrol and son with Malaysians and you will see the simple logic and how the BN government has hoodwinked us as if it had generously subsidised us all these years!
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written by timberguy, June 05, 2008 02:51:37
This is typically BODOH-wi government! Still thinking that the people are stupid and will take all shit coming from Government's mouth at "(shit)-face value". Ministers don't give a shit as they are ALL multi-millionaires, especially the PM's family and the DPM's wife & brothers. Our economy is going to dogs. Thanks to "Mr Nice"-my-ass Bodoh-wi!
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written by alberttan, June 05, 2008 03:22:22
"Soon we will see more traffic police out to cari makan to subsidise their income" by tlau.

And Malays are thanking UMNO misleading them into believing the "bumiputera" and "ketuanan" bs perhaps not realising they have been enslaved by BULLSHIT MALAYS into being morally corrupt Malays?

FYI, I prefer to pay d policeman than PDRM, at least I know it will do some good for the person and no additional harm to the Malaysian public.

Guess what 99% of our civil service have to do to survive a stroke of pen that reduced their purchasing power 40% OVERNIGHT?

Guess who those 99% are besides the large majority of the poor in Malaysia, especially from Trengganu?

YB RPK is right, BULLSHIT MALAYS AND MUSLIMS do not give a shit about their own kind (much less others) who earn their money the honest way; small time traders, hawkers, farmers, civil servants, etc who have to provide for their children.

Guess again who have the most children per family?

I think Tunku Abdul Rahman was right to sack TDM, the architect of the mindset of the NEW UMNO. How then could TDM turn around and blame the Malays, and not the NEW UMNO? Because GENUINE MALAYS are the most chinchai people I have ever been blessed to be neighbors, friends and colleagues to, and it is not in their nature to complain.

Tun want to KNOW what suffering is like? Just stop blogging, stop thinking and keep quiet for a change tonite and FEEL the millions of parents tossing around in bed wondering how they will feed their children from July onwards. Tun need not offer Mugabe asylum in Malaysia, Tun have created one in your successor, just hope our Ringgit will not be worthless like Mugabe's Zimbabwean dollars.

As for the rest of the world, pity the GENUINE MALAYS please.
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written by mob1900, June 05, 2008 03:46:25
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written by alberttan, June 05, 2008 03:51:41
When "Ketuanan Melayu" is shouted, the fact is it really means "Ketuanan UMNO" which really translates to BULLSHIT MALAYS enslaving and corrupting GENUINE MALAYS, a vicious cycle unleashed by TDM who (like Mugabe) think he is the greatest ever gift to Malays.

Call me sensitive, I have a very important presentation 10am tomorrow, but just could not sleep worrying about my many economically borderline Malaysian friends with children, we do not need cyclone Nargis or any natural disasters to harm our children, we have UMNO to man made disaster it for us. Always have had a very tender spot for children.
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written by dzcorleone, June 05, 2008 07:59:07
UMNO bastards! Abdullah Ahmad Badawi, you will burn and rot in hell for eternity!
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written by tmf, June 05, 2008 08:55:09
Can anyone from Petronas confirm to us that we are selling our oil at current price or if we had already presold our oil via forward contracts to other countries such as Japan some years ago at very cheap price?

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written by tino_chan1988, June 05, 2008 10:03:37
I smell a rat....

PM Ahmad Badawi and the entire UMNO cronies in recent times are constantly barking that the rising fuel cost is going to drive Malaysia into bankrupcy as the ever-increase price has cost the Malaysian government a whopping RM56B a year.

If that is the actual case, I am certain PM Badawi and the rest of his clowns has no problem in answering the following questions:

1. If the spiraling fuel price increased in recent times has affected the government's financial balance negatively, shouldn't Petronas's profit, and thus, including the royalties has some positive effect as well?

2. If profit and royalties did increase, how much was it and where have all the $$$ gone to? Shouldn't the government explain their expenditure as well as their income to the citizen?

3. Why was there never a transparent report on Petronas's income and the distribution of such income by the government?

4. Where is the statistic and facts to support the Malaysian government's claim of subsidizing the yearly mind boggling RM56B?

5. If the present government is factually facing a huge financial deficit, why are they still implement those useless mega project such as the North-South train project (to name one of the many questionable projects) which cost RM18B?

6. Yes, Malaysia is still one of the cheapest in the region but as many has posted in the site, as one of the oil-producing countries in the world, we are one of the most expensive. Please explain why and how?

Something stinks here!
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written by PHUA KL, June 05, 2008 10:24:25
Excellent analysis in this article!

What can we, the ordinary citizens of Malaysia who are unhappy do about it?

Increase our political participation i.e. not only vote and vote wisely
but also get politically active in other ways (such as
signing petitions, writing letters to the newspapers,
blogging and pointing out the misrepresentations of the mainstream media, joining progressive NGOs, monitoring the deeds or misdeeds of public officials and politicians, donating money or time to political parties, lobbying
politicians, running for political office)

Organised action by the majority can help to check the misdeeds of the minority.
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written by eyestrainx, June 05, 2008 11:11:02
i really hate the government rite now...
why they are cheating us saying it would be august...
why fuel hike so high?
we need to unite to brought it down back
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written by wshamsudin, June 05, 2008 13:11:31
The Government under Pak Lah couldnt care less for the Rakyat. They, in the Pak Lah's cabinet and all UMNO MTs are not affected by this. The rakyat are.Their baggage are already full and couldnt bother of us, the rakyat. I call this SLAVERY in Pak Lah's era. Hope he and his cronies 'doomsday' will arrive soonest possible. May GOD bless us.
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written by wargasetia, June 05, 2008 14:45:10
use this url to buy cheaper fuel. dont believe? try it.

http://excelgas.water4gas.hop.*****bank.net

http://excelgas.water4gas.hop.*****bank.net

so, who cares with the price? smilies/grin.gif smilies/shocked.gif
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