Petronas president and CEO Hassan Merican said all subsidies must be removed because it is the cause of excessive consumption and it distort the efficient markets.Hassan Merican said that while the industry was trying to step up production, Asia must become more energy-efficient.
"While this is being pursued, nations must also work towards a gradual removal of generous energy subsidies, which cause unmitigated consumption and market distortions that are unmanageable in the long run," he said.
"Saving energy is no longer about achieving cost savings - it is a matter of survival and providing for the future generation," Hassan told the annual Asia Oil and Gas Conference.
Source: Petronas wants oil subsidies fully removed
I learn one thing today; fuel subsidies were the cause of excessive consumption and energy inefficiencies.
Based on the factor cited by Hassan, it must be taken to mean that development projects should then be stopped to save energy and car production and sales should also be stopped to reduce consumption. Proton and Perodua should assist in this effort.
Based on the factor cited by Hassan, it must be taken to mean that development projects should then be stopped to save energy and car production and sales should also be stopped to reduce consumption. Proton and Perodua should assist in this effort.
23 comments:
he's just repeating a G8 call,...
(...“If we leave this situation as it is, it could lead to a recession of the world economy,” Akira Amari, the Japanese Energy Minister and host of the meeting, said. That meant, he added, that energy security, including the stability of the oil market, had become one of the top priorities for every country.
Andris Piebalgs, the European Energy Commissioner, said that the high oil price was not a passing phase, adding that “no economy should gamble on a potential return to low prices”.
Sam Bodman, the US Energy Secretary, described the price spike on Friday, when a barrel of benchmark US light crude rose $10, as a shock and said that similar price volatility lay ahead. He conceded that there were relatively few things that could be done in the short term. There was also disagreement on protecting consumers from high oil prices. The United States led calls for developing world subsidies to be removed to help to curb demand. There were riots in India last week when price increases were passed on to consumers. ...)
link here
Correct, correct, correct.
Save the world and let the masses suffer the effect of 'market forces.'
Problem is, market forces pushing oil prices higher did not correspond to the 20% increase in consumption over the past 3 years.
More likely the scenario is: Developed countries have already reached maturity and it costs the world 0.88 deg C in average world temperature.
Now that the Asian economies, (esp China, India and South-East Asia) are catching up, with the West, its a good time to put us where we belong and up the ante (sorta speak.)
Its all about the haves vs the have-nots.
Jefus,
The Jap Minister copy Hassan's idea!!!
Malaysia is always original.
Can we remove all the ministers in Malaysia? I mean all ministers from BN because there are the reason of excessive consumption of our "Duit Rakyat"!!!
Hi Mav,
Not just Proton and Perodua, this includes Naza, Mofaz and the other cronies with APs as well. All of them have to stop producing and bringing cars into Malaysia if according to this Merican fella. This again proves that in Malaysia, many of the top position fella do not rectify the problem in hand but always try to come up with ideas to avoid the problem. You ever noticed that?
Tok Lah,
Cannot remove all the ministers; remove those from MCA, Gerakan and MIC boleh; Umno Ministers cannot; otherwise the Keturunan thing will create anarchy - WWIII.
Toolan,
Your suggestion will be forwarded to Hassan Merican for his consideration.
Rebate... sounds stupid!
Rebate only for those with vehicles...
so those really poor who cant afford vehicles and has to pay more bus fare.
NO REBATE LA!
Maverick
I think its time Petronas change its CEO!
Petronas is now no longer environmental people friendly.
One thing for sure, Petronas should cut their employees salary by 40% mainly due to their malaise work culture and poor performance, be it in marketing, production, and exploration.
To make matter worst, Petronas not practising transparency and accountability to the people of Malaysia.
You see, this CEO has been in his comfort zone too long and its time for him and his platoon of employees commute in LRT, STAR, stage buses, trains etc.
Get a life; a Real Life!
if all those not so smart ministers n petronas big shot don't get free petrol/ traveling allowances see how they feel.
the government and the company has been paying their petrol for their big cars but we are paying for our own small cars.
useless corrupted piece of $h!t
FI should stop isnt it? if not, petronas should stop participating. its hell lot of polluting and waste of petrol for 20 miserable cars going round and round.
WTF, why dont this Hassan guy shut his mouth and get on with his job. We dont need you to be a mouthpiece for this moronic and corrupt govt to justify the huge hike. nothing can justify if one's compare our petrol price with other net oil exporting nations.
Edi,
Those without vehicle; what to subsidies? No subsidy, no rebate lah.
Oris,
Cannot; change ceo lagi teruk! Change to Khairy or Azeez? Or the 4th floor boys?
Sirdumb,
All those big shot no allowance no problem also lah!
if everybody cut oil usage, petronas would earn less, and the ceo ought to be sacked to utter such statement!
Malaysia product ARE NEVER CHEAP, even with the oil subsidies, not even with so called "branding".
And the petronas ceo dare to talk some cock because he is political appointed anyway.
Yes, lets remove ALL oil subsidies, and thanks to years of deficiency and corruption, without oil subsidies, FDI and factories MUST close plant in Malaysia, because the last factor that brought down the production cost just vanished.
So are Petronas gonna buy over such plant to "hedge" it so the country economy won't collapse?
Just imagine, an oil export country collapse because of oil... intriguing.
Denzook,
If everyone cut usage then the fuel will last another 50 years and Hassan can continue to be CEO for another 50 years.
Moo_t,
Oil export country Indonesia is now an net importer of oil.
Mave, what he said got substance too but nothing much to back him up. Who is wasting energy? Rempits? Speed Demons? Turbo heads?.. What about those in his class, driving a 3 liter Mercedes? a hummer perhaps?
Petronas has tonnes of money. They could have built a hydrogen car & stations (at least for large cities). Instead spend on MPO, F1 and car craze contest. Haiya, wake up la.
What about airplanes? Stop all flight and everyone can travel using canoe (paddle at your own risk). How about that?
ofcourse what he and many others said about subsidies make sense.
if subsidy is taken out, the price of petrol currently would be RM3. Now, would you suka suka jalan-jalan makan angin for no good reason all the times when it is RM 3/litre as compare to when the price is, lets say RM1.92?. people all over are starting to think about ngv, driving tips to save fuel, car pooling, public transport etcetc
If a barang is expensive, one buys less or one treasures it. thus demand is less etcetc...
NoktahHitam,
I have to agree with you on the point that what Hassan said is substantive and a reality. As to Petronas failure to develop or invent, it wasn't part of their dream.
Warrior2,
Your hypothesis is relevant but beyond human natural comprehension and dictates.
SM, it is not as I and many of my friends are doing everything I and they can now including the above to save money and to strecth mileage from every litre!
Warrior2,
You are righht in stretching the mileage per litre of fuel; but what I am expressing is the fact that it is not just fuel that is causing hurt; but that the fuel increase of some 40% will cause all other services and products to rise in tandem and thus hurt the economy and pushes inflation to unsustainable level for the ordinary people. Added to the problem is the current food crisis which have impacted the CPI.
korang balek2 nak rompak duit petronas... korang ade ape sumbangan kat diorang? diorang ade gak bayo cukai& dividen berbilion2... korang?
bape ringgit bapak korang bagi duit kat petronas korang nak mintak duit dia? dia korek minyak pon bukan korek kat belakang tanah bapak korang...
semua bodoh!
balek2 ckp petronas pengeluar minyak... bodoh! bangang! wei para2 bodoh bangang... tengok le malaysia pengeluar minyak no bape? nak banding dgn arab saudi, rusia ke ape ke tgk le dulu... kalau dah bodoh tu bodoh gak la....pegi sekolah ah bangang... balek2 guna hujah bangang tu....
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