Monday, June 06, 2005

we deserved to know - fuel price

the SAPP pressident Yong Teck Lee yesterday raised up several good point on fuel prices, which I agreed with him that we (the rakyat) deserve an explaination from the government.

Part of Yong's speech, i quoted as follows: -

why Malaysia as an oil exporting country suffers financially when oil prices go up. Simple logic says that revenues in the form of royalties for the Government and profits for Petronas should increase with oil prices.

SAPP propses that the government publishes a booklet to explain the workings of the national peteroleum industry and the pricing mechanism.

Specifically, there is a need to answer the question why an oil exporting country like Malaysia loses revenues when the prices of oil go up.