I have been watching the crude oil price for a while now. If you look at the sidebar,you will see a live update of the world crude oil price from when it was about $150 and our dearest government raised our fuel prices to RM2.70 a liter to RM 2.40 that we pay for a liter of fuel today.

But does this justify as compared to where the world crude oil stands??

Questions

  • I’m no economical champion but its pretty obvious that we are paying premium price for fuel isnt it?? But why?
  • Is our fuels still subsidized by the govt?
  • Reduce in fuel price does not mean reduced in cost of food/services.others who conveniently increased their prices when the bold move of increasing the fuel was done not so long ago, how?

With the economic meltdown and many nations going into recession i hope that we are managing the situation more prudently in ensuring we don’t drop into too deep shit.. Its a royal mess to get out, if you know what i mean.

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Category: Malaysia Thoughts

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There are 4 comments

  • ¬ Danesh
    #5423 October 23rd, 2008 at 12:45 pm

    http://news.bbc.co.uk/2/hi/business/7685403.stm

  • ¬ The King
    #5436 October 23rd, 2008 at 10:26 pm

    Dato’ AB,

    I believe the government should maintain the high oil price. Not only such policy will allow us to use fossil based energy with caution but also, it will allow the reduction in green house emission and perhaps the creation of green industry.
    The above premise deserves some additional treatment:

    1. We, Malaysian, are not entrepreneurial. We’re used to be spoon-feed from kindergarten right up to our senior years. Therefore we lack in creativity, critical thinking and ambition. We’re at a lucrative cross-junction to define new competitive advantage for our country by moving into new industries based on green technology. We have all the ‘endowment’ to our expense – solar, wind, clean coal, natural gas and hydro.
    2. Ironically, some Malaysians are opportunist. But sadly, this talent is not put to great use. They rather sap the proletariat whenever and wherever the opportunity arises. In our case, even with the decrease of crude oil price, the inflation is still high (Caveat: this depends on which statistics you refer to)

    In summary, the petrodollar could be used to spawn many start-ups that could champion technologies to our betterment. To achieve this we need to act as One Malaysia and inject our political sphere with new blood and bold vision. We can’t afford a sleeping beauty, or a sex-crazed prime minister. Moist is the subject of the past and large-scale capitalism ought to be revisited. True democracy should be allowed to flourish.

    The King

  • ¬ Danesh
    #6913 December 18th, 2008 at 10:10 am

    40 bucks now!!

  • ¬ Crude Oil Dips Below $USD40
    #6939 December 19th, 2008 at 7:00 am

    [...] the 23rd of October i did a posting on how the world crude oil price had dropped drasically to USD$67 and i was dissapointed how the [...]

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