Even though I will be facing an exam on Monday, I can't help but to find more information regarding our nation's hot topic on petrol's price hike compared to my study materials.
I found out that Malaysia produced a rough amount of 650k barrels of crude per day, and Malaysian in general will consumed 400k barrels, leaving an estimated amount of 250k barrels for exports purposes. The selling price of crude was estimated at USD 30 per barrel 3 years ago, and the current price is USD 130 per barrel, an increase of USD 100 compared to 3 years ago. As the operation cost wasn't affected much in these 3 years, the extra USD 100 can be widely considered as pure profit for Petronas.
So let us do the calculation:
barrels to be exported X pure profit X days in a year X currency exchange (rough estimate) = total profit
250,000 X 100 X 365 X 3 = RM 27,375,000,000.
Did you see the amount of zeros? Its a total of twenty seven billion ringgit of EXTRA PURE PROFIT for Petronas and the government, and don't forget we have yet to include their profits on their sales to both local population and exports of 650k barrels each day. With that extra pure profit, it comes to my mind how come the goverment is claiming that the rising oil price burdening them when they were gaining more profit from it instead.
And for your knowledge, our petrol price of RM2.70 was already the MOST EXPENSIVE among any country in the world that produce and export crudes. Do not compare with China even though they had their own crudes since the country itself needs to import extra crudes as their own could not cope up with the population demand.
Thus, where is the need for price increase? It doesn't needs a Mathematic genius to do calculation whether the goverment is losing or earning more money... Thus why is the government claiming and crying the current oil price is burdening them when they gained more money compared to 3 years ago? And lastly, where did all the money went? And doesn't it sounds funny when our PM said the price increase is for the interest of 'rakyat' since it can be used to fund some 'developmental projects' that were of best interest to the 'rakyat'? Does the name of Northern Corridor, The Iskandar, The Southern Corridor comes to your mind (check wikipedia or other sources if you don't know what are those)?
And the so-called 4 steps to help lessen the burden of 'rakyat', I can't help but to doubt how will the goverment ensure those steps 'really help' us. Sorry Mr. PM and the rest, the future certainly doesn't look bright, and hopefully some counter measures can be taken instead of hiking the petrol price further.
And may I propose that we stop being a clown theather in the eyes of the world especially Singapore and Thailand since both decision to ban and lift petrol sales to their cars were made in less than 1 week and it certainly doesn't look good. Sorry again, but some of you certainly need to double think before you act.
p/s: infos and figures were taken from various internet sources, so credit to them.
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