Petronas Explain Why oil Price Must Increase Urgently

Oil price hike in Malaysia last week. For the records, oil crude price has been increased by 400 percent over last three years. In other countries petrol prices had increased dramatically with a riot and killing. For our reference one liter of petrol in United Kingdom will cost one pound sterling. In United States it is about $1.50.

Is this still cheap? Ya! I guest it slightly cheaper but for a small country like Malaysia compared to Thailand still expensive. But the reality, it's not Petronas burden but Petronas and Malaysia Government are stealing people money, Im wondering are these Government asking money from Petronas? and Petronas can't pay all these money - So, to bill-up Abdullah Ahmad Badawi project they slotter all Malaysian especially its hurt our business, its down our market share. Are these badawi Government spending more than they can effort? who knows? Only Petronas know .

"So badawi, are you trying to prove something? desperate to show that you capable to manage these country? forget it you are looser!"

Today, Petronas Malaysia representative President and CEO Tan Sri Dato Sri Mohd Hassan Marican who is interviewed by RTM 1 has said in conclusions "oil price must be increase, If not we are unable to overcome our operations burden".

Well since the increase everybody excited to talk about oil price. Like to quote from Malaysia Kini written by Al Tugauw from Malaysia Kini.

Who is asking Petronas to hand over all its profits? In the first place nobody
is asking Petronas to hand over all its profits to the government to continue
subsidising fuel. Is that what that has been happening all these years? How does
this 'subsidy' work anyway? Why don't they explain the mechanism of this
so-called 'subsidy' or are they merely talking about opportunity cost here? I
think they should invite Tun Dr. Mahathir and debate in front of all people,
besides the journalist from The edge and Bernama. Well for me there is nothing
Malaysian can do, when the Government and Petronas start to increase in never
down. And yeah! The Government keeps it promise for not to increase oil price
between 2 years. After 2 years its increase like hell.

But Im questioning Petronas;

1. - Why does a nation which exports HIGH grade oil with low sulfur content lose money due to oil subsidy to its population?

2. - Why does a nation which has huge natural resources such as palm oil, rubber, etc does not make any money?

3. - It is also reported that Malaysia is losing one million ringgit per day due to lost custom and taxes due to deficiencies in the custom's department. What the heck?

After this must be some one will ask Petronas to hand-on its account statement to public and all this statement has been creatively made by accountant. Heeheheee