Wednesday, September 19, 2007

Malaysia's Oil Fields

I hardly read business news. But "Buoyed by oils" (CSTan Starbiz, 17 Sept 07) and "Need for New Resources" (M Ariff, Star 17 Sept 07) caught my attention.
According to Petronas, our crude oil reserves will last for another 20 years. But independent analyst forecasted 4.2 billion barrels which could last only 14 years.

20 or 14 years - whoever may be right; they are not far from year 2007.
That means the year 2027 or 2021 will be the end of our country's fossil fuel! Then what?
Given the high contribution from oil to Government coffers of 34.4% in 2006, we are definitely heading for a beak future. (M Ariff, Star 17 Sept 07)
I may not be around but future generation will not enjoy the same subsidies & free amenities.
If the present wastages in the name of growth and development of "white elephants" do not contain; I believe anarchy will be the days to come.
Can the people of bolehland live without subsidy? I doubt.
Every services - including use of roads will be heavily taxed. The rich will get richer while the poor will be poorer. ANARCHY rules!
However, with the increase production of Palm Oil and the expected increase in the price of the commodity, revenue is expected to increase to replace the contribution from fossil fuel.

Our future lies in Oil Palm?

And so more lands will be needed to plant Oil Palms.

And more jungles will be replaced with plantations.

And more trees will be logged.

And more damages to ecosystem.

You won't be able to drink from the taps - as most rivers would be heavily polluted.
You have to wear masks - as the haze has gone to a critical level.
You have to pay more taxes - as the government need money for development.

It all boiled down to the incompetent and corrupt management in my country called Bolehland. Sad indeed.

That day is coming. Can you stop it?

No comments: