Peninsular Malaysia’s oil and gas reserves have halved from 700,000 barrels daily five to 10 years ago, to 350,000 now, economy minister Rafizi Ramli has said, according to a Sinar Harian report.
“(translated) Within 10 years (Peninsular Malaysia’s oil and gas reserves) has halved and it will deplete even faster,” he said yesterday at the economy ministry’s 13th Malaysia Plan Engagement Session with the Kelantan state government.
“Although Malaysia’s economic growth is good, lifestyles have changed – we used to ride motorbikes instead of cars, but salaries have not increased, businesses have not grown and expenses are greater than income. If we don’t change our ways, we will be living beyond our means.
“In the peninsula, 30% of the gas used to generate electricity in the industry is imported. If we are not careful or don’t take any corrective measures, we will continue to be dependent on other countries,” he added.
Rafizi said Peninsular Malaysia’s low oil and gas reserves is making it challenging for the government in terms of distributing and determining allocations to the individual states, adding that East Malaysia’s reserves serve Sabah and Sarawak’s demands.
“(translated) There are efforts to reconsider the method of revenue collection from Sabah and Sarawak. In addition to meeting the demands of Sabah and Sarawak, most of these resources are indeed exported and tied to long-term agreements by the buyers,” Rafizi said.
Cepatla remove subsidies. Reserve subsidies for bumi only.
Itu bukan data pengeluaran ke? Atau stok dalam tanah?
A few things I find his statement misleading (lying) :
1) Oil & gas were never depleted. The reality is that the cost of extracting more oil & gas from deeper parts is more expensive. For example, it doesn’t make sense to spend RM10 to drill out oil worth of RM1.
2) The grade for Malaysian is high (Sweet Crude). It is used for aviation (we sell/exported them). The petrol and diesel we use now are IMPORTED from Middle East.
3) This sudden “scary news” points to confirmed Petrol prices will be raised (government will cut subsidies). So, that certain famous guy who keep chanting “harini jadi PM, esok minyak turooon” will find it harder to deliver THAT particular promise.
4) The government did announce that they targeted to increase more EV charging stations. When the cost of owning a BEV is cheaper than owning an ICE vehicle, probably we might see a switch towards larger usage/sales of EVs.
Love it or hate it, things will change. The only things we can do is to be prepared to weather the challenges.
huh????
Boleh percaya ke?
LRT occupancy low due to long waiting time during working hours
CAR no control on cars selling pattern, more new cars on the road daily
EHailing more people doing ehailing to survive
Please dont just make a statement, find the solutions to it. So many factors to look into and dont just look at subsidy alone
They are previously in Opposition, telling problems is what they only know and what they do best. The left the solution to the Govt, but now they are Govt nobody is doing the solution. We need to bring back BN Govt again to find solution.
I don’t know what’s the objective of making such statement. I don’t need a minister to tell me the problem. I need him to provide a solution.
They are previously in Opposition, telling problems is what they only know and what they do best. The left the solution to the Govt, but now they are Govt nobody is doing the solution. We need to bring back BN Govt again to find solution.
The rakyat has spoken! Where is the today win tomorrow price down? This gomen is for rakyat asing is it.
Bullshiting minister think we stupid dunno that we don’t use our oil to make into petrol & diesel for cars is it? Long time ago we knew we sell our oil for aviation usage and in turn bought Saudi oil for local consumption. With long term investments during Najib era, Petronas had overseas operations that helps to offset more oil subsidies. It is under PH Gomen that pull back all these lucrative investments and forced Petronas to fund their projects, so why PH minister blame Petronas and the rakyat for their economic blunders? If you cannot fulfill your cheap fuel promise to rakyat, please give our country back to BN to manage it. At least they don’t screw it up like you did!
Banyak alasan untuk naikkan harga RON95. Tak ada org bijak akan percaya kamu la. Depleting oil kono. Kalau tak pandai gali mai bagi aku galikan. Saya garenti saya akan turunkan harga minyak sebanyak 50%