Looks like a lot of us doesn’t realize that petrol is natural resources and it is getting lesser in this plant called Earth.

Are you sure the petroleum company manipulate the oil price? And it is not any government behind this?

Some questions for you to ponder.
Question 1:
Why oil manufacture cannot raise their production and price?
Answer 1:
US government has enough of reserve to manipulate the demand/supply and the price for the market

Question 2:
How much oil reserver does US has?
Answer 2:
If one day the Earth runs out of oil, US still has oil reserve that can last them for another 10 years.

I can firmly say the following to some of the comments I have read:
1. The oil price in the world today is not controlled by any one company. It is a function of supply and demand. This mechanism of free market then influences price of crude, the most important being the NYMEX crude index in the US. Now one might ask who is in this trade of crude? Well they are crude suppliers (the world’s oil companies), oil consumers, fund managers, banks etc.
2. The illusion that the level of subsidy in this country is indirectly controlled by PETRONAS. This is incorrect. Irrespective of what the level of subsidy is, PETRONAS will still get the same amount of money for the oil it sells. This is the same case for Shell, Esso, Mobil… etc etc. It’s a totally different case for gas subsidy as this is being fnanced directly from PETRONAS’ coffers.
3. If PETRONAS’ money is used to fund oil subsidy, this indirectly means that PETRONAS’ will be giving money to Shell, Esso, Mobil etc. This means that there will be a huge outflow of money from Malaysia (as those are all international MNCs). Does this make sense economically?
4. PETRONAS is successful and where it is today partly because it is viewed internationally as a reputable company and this has earned it good ratings from financers etc. This also attracts people and other countries to do business which indirectly helps the country. At the very sight when these investors and partners find out the PETRONAS’ money is indirectly used for subsidy, PETRONAS’ reputation will be tarnished. Remember that even though PETRONAS’ is a government owned company, it is formally incorporated as a business and is totally run as a business. One good example is PDVSA in Venezuela. Since Pres Huga Chavex plundered PDVSA’s wealth, Venezuela’s oil production have dropped. Why? Because the national oil company there (PDVSA) can no longer invest to increase or maintain oil production. Bear in mind that Venezuela is a MAJOR oil exporting country. Do we want the same to happen here?

I’ve got many more things I can write but I shall leave it at this for now. I just ask that when people write things on this forum, that the facts be first checked and that we do not assume your assumptions as facts. Check first! Or at least, request for clarification in this forum.

Regards.

As for the name callings. I guess it’s also wrong of me. I am probably the biggest fool for calling others a FOOL.. 1001 apologies.

I think you misintrepreted my wrtings. I am not saying that PETRONAS has anything to do with the increase of oil prices. But, it plays a major role in the levels of SUBSIDY on our nations oil prices. Am i not right?

As for infinity

It appears that you are also as NAIVE as me. Think carefully, 60% goes to us. What is our nations petroleum tax rate? Do you know what 40% constitute?

Heres MY ultimate EVIDENCE!!!

GO LOOK AT PETRONAS contracts for sub-contractors FOOLS. Theres the answer. That is where our nations resoruces are spend. Dont believe?
Well, have you heard of a NON-BUMI getting such contracts?

“……lull us into a false sense of reality….”

Below article is a good reading!

http://www.malaysia-today.net/nuc2006/guestcol.php?itemid=101

http://www.malaysia-today.net/nuc2006/arblogs.php?itemid=94

but there’s a price to pay: the rakyats have grown addicted to this ’subsidy’ and now with oil prices reaching almost USD100 a barrel, the burden is just way too much.
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As a net oil exporting countries, do you make calculation the additional income from this “phenomenon” increase? The benefits of increase is too much and shall be able to increase the subsidy or reduce the petrol price!

maybe, just maybe, one of the reason why we all dont earn as much as our SGrian counterpart (but better compared to our other neighbors) is because a sizeable chunk of our wealth, that could’ve been redistributed/used for developments, is used to pamper ourselves with artificialy-cheap fuels and lull us into a false sense of reality.
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Fuel subsidy is the norm for most of net oil exporting countries (Brunei, OPEC members, etc) and our petrol get the least subsidy or we pay the highest price among net oil exporting countries. That is a disgrace achievement, considering that countries like UAE or Brunei have no income tax. Their electicity is free for all local residence! WTF, subsidy a little bit to benefits the poor rakyat make noise already.

Furthermore, the actual thing that “lull us into a false sense of reality” are “Malaysia Boleh” that is in reality is “Bodohland”. Good examples for these are built the highest & longest for this and that, put milo tin on the wheel at north pole, space tourist, IDR, ECER, National car produce junk metal at inflated price, etc, etc, etc.

So, do you demand for prove again? Go around and see on the ground your-self!

Govt can adjust price of gas to close-to-real-situation instead of now, BUT in the same time Govt must also amend other things:
1 REDUCE TARIFF & NON-TARIFF BARRIERS TO AUTOMOTIVE,
2 Keep corruption at bay
3 Law enforcement mechanism must be world class
4 Our politician also 1 world class
5 Business, do not mix with politic (otherwise we can enjoy better highway for free (inexpensive toll rate: current pro-highway CONsessionnaires merely made us pay higher than our income can support)
6 Use other countries as benchmark in every sectors not only when our country seems better than them, i.e never compare fuel price in Japan when their cars (very very low in our standard Wish for instance not even RM50k we pay RM156k)) and income (compare factory workers’ salary).

That’s why they can afford “expensive ” (in Malaysian term) daily long distance express train fares unlike us because their income are very very high. But in the same time they don’t have much priority for cars unlike us because car ownership DEARER than us when it come to FUEL cost, parking etc.

SO the equation must well thought DON’T biased. Otherwise our policies relentlessly the DUMBEST one and scare away FDI.

Politics not relevant here? Why not?

Politics and policies (especially bad ones) affect us all, affect our ability to enjoy what we enjoy.
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So, my calculation is we lost economic opportunity at around USD 209 billion a year (if we are as good as Sing) or RM 29,260.00 on per head basis compare to Singapore. It is almost 10 time Petronas contribution to our nation coffer.

So, our “wolf-face-with-chicken-feather” politicians still put up a lot of clone shows!

The FACT is “the monkeys/clones all the way bite the rakyat hand that vote them” since independent!

The oil in our bumi is belong to rakyat. As far as our country is net exporter of oil, we are and shall benefit from the nation wealth, at least in the form of fuel subsidy!

Our GDP is around USD 12K and SG is USD 31K.

We shall at least as good as SG if not US (GDP = USD 44K) since we are rich in natural resources.

Currently, we have approximately 11 million active workers (under employment or self employ) contribute to the nation economic activities.

If we are as good as Singapore, means 11 million x (USD 31K – USD 12K) = USD 209 billion.

Therefore, on average, taken into consideration 25 million population, every “tak apa” attitude citizens from baby to going/near to die are get less USD 8,360 (RM 29,260.00) per head compare to Singapore kiasu citizen.

However, our monkeys/clones in the G still claim we are good at this and that compare to some poorest African or 4th world countries. In FACT, the countries lose out approx USD 209 billion economic opportunity due to don’t need to explain rubbish policies and corruption taken place as we witness today.

November 6, 2007 @ 2:21 pm

Hello guys

I can’t believe there are individuals who still think that PETRONAS has nothing to do with this.

The INCREASE and DECREASE of OIL price rest SOLELY on the hands of our PM (influenced closely by Petronas). That’s a FACT.
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That’s a FACT? Indeed you are the biggest liar in this thread. The oil increase is a world phenomenon, partly influence by China excessive demand for its industry. Today news shown that PetroChina is the world biggest company by market value at USD 1 trillion compare to Exxon Mobile USD 488 billion.

http://news.bbc.co.uk/2/hi/business/7078518.stm

Also, now is going into winter season for temperate countries in the west, thus the demand for petrol increase in order to generate heat to make them warm.

one didnt increase.our prepaid or postpaid line..hehe..today rate is very much cheaper..1 cents pon leh send sms..haha..just joking..
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Telecommunication sector is one of the free market competition without the invincible hand of cronies or politician or “NAP” like policy to inflate the price, so the rakyat benefited from the economic of scales and lowest rates.