Sunday, May 4, 2008

Malaysia's Oil Reserves Depleting

Malaysia's open market for vehicles has seen many foreign cars being available here. Sales are still on the rise and the periodic increase in price of gas has not been a deterrent. Below are excerpts from an insightful article on Malaysia's depleting oil reserves.

Depleting national oil reserves?

Some quotes from the Domestic Trade and Consumers Affairs Minister, Datuk Shahrir Abdul Samad:

- The figures are worrisome. Based on estimates – and cavernous appetite of Malaysians in using fuel – Shahrir reckons it will be about 10 years before the estimated 3bil barrel of oil reserve runs dry.

- “My calculations show that Malaysia has 106 barrels of reserve oil per capita. Compare this with Brunei's 2,007, Saudi Arabia's 11,000 and Kuwait's 37,000.

- Fuel subsidies make up some 50% of the country’s total subsidy bill, and with the spiralling global oil price, it alone will siphon off a sizeable portion of the government's expenditure.

- Fuel subsidies should be gradually reduced...


On a positive note,

Travellers impressed to see Lim flying economy class

Some things have not changed with Lim Guan Eng, although he is now the Penang Chief Minister.

And among that is his penchant for economy class air travel.

As the chief executive of Penang, Lim is entitled to a business class seat but he is having none of it.


Ning posing with Lim at KLIA on Wednesday in a photo taken from Jolly's blog.


Source: The Star

4 comments:

  1. Great showing by Lim, going economy class.. Up close and personal?

    ReplyDelete
  2. Yes, great showing. Good that someone picked it up and spread the good word. This story was actually from this blog:

    http://mrmanager.blogspot.com

    Check out the interesting post on it. The picture is also from there.

    ReplyDelete
  3. Last check, the population of Brunei is 391,450 (wikipedia). On 'absolute' term, it looks like Malaysia has higher level of oil reserve.

    It is great to hear that Lim Guan Eng fly in economy class, but that doesn't equate him to be a good CM.

    ReplyDelete
  4. It is great to hear that Lim Guan Eng fly in economy class, but that doesn't equate him to be a good CM.

    Of course. He's only human. Similarly, we do good things, we do bad things, that doesn't make us good or bad. Am I making sense? Nevermind......

    ReplyDelete