the unexpected oil prices rises by 40% in Malaysia

Malaysia is one of the country in the Asia which offer cheap oil price at RM 1.92 sen since last year, however now we have to buy oil at the price of RM2.70. It is total increase of 40%.

What make me surprise is that we expected oil raise in the month of august 2008 however, we are shocked that we heard this bad news. Malaysian is worried that oil raise will causes the inflation high enough for us to suffer. Malaysian protest but the government ignore because the government run out of money. Govt suggested that by cutting subsidies will help the country to improve the economy by having enough money to run mega projects.

In my own opinion, cutting subsidies has the advantages and disadvantages. We hope to get cheap oil so that the cost is low and we can maintain low inflation. Our country have advantages because our stable economy. We can attract new investors by bringing new investments to our country and hence more job created. This is all since the past

Now, time have changed, the world forces Malaysian to be more alerted. Malaysian are too get used to cheap oil and during the past we don't seem to feel the pain from the outside world because we are protected and hence we are not prepared enough to meet the outsides challenges. Only the fittest can survive. This make sense in today economy but create too much uncertainties.

The questions are why we are oil exporter and yet we are forced to feel the pressure of oil prices fluctuation? If the oil prices is high, exporter are benefited because they can make more money. Oil prices is high due to speculation of the oil supply. Why can't we keep to buy oil at below RM2 since we are making money because of high oil prices?

Let assume that oil prices at RM4, and we need to for alternative for cheaper energy sources such as ethanol, gas and etc. Did the government giving or promote us with alternative so that the current rakyat can survive in such high prices? What action is taken to effectively to offset this so that the rakyat do not suffer?

I support the government reduces oil subsidies of oil if the government have make sure the inflation turn to be stable during the transition of less subsidies.

Comments

Anonymous said…
it is true, with the oil price being rised, everyone seems to be taking advantage of the situation, the food increases, daily groceries increasing, making it even more difficult to the poor. The worst is now is school bus is increasing the prices, and for poor people, some people cannot afford their kids to take school bus anymore and need to walk to school, so pity. And rice, milk..everything increase...haih..hard to survive. We should encourage alternative, like in foreign countries, such as India, US and European countries, there is electric cars. or they call hybrid cars, half electric and half fuel. If they can do it in India, I bet we can also do it here.
June 18, 2008 at 5:35 PM
Carso Leong said…
ya we need to do something.
July 7, 2008 at 7:09 AM
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