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Tuesday, November 18, 2008

Petrol Tax for Net Oil Exporter



When I was reading the news on theStar online (www.thestar.com.my), I got a bit shocked. The Malaysian government not only not giving petrol subsidy for Malaysian, but now starting to earn revenue from the current petrol price at RM2.00 (source). While shocked, I was not surprised. Well, it does not take a rocket scientist to figure out that we are actually paying the government when the crude oil price was below USD60 per barrel. As mention by my previous post that we did actually pay the petrol tax .....source, it seems that now it's OFFICIAL that we, Malaysian, born in a nation producing oil will have to pay petrol tax. Well, previously they do not want to admit it, but at least this time they admit they are actually getting return by reducing the petrol price 15 cents to RM2.00 and they can still earn some money out of it. I will need to search for more details to confirm that we will be the 1st net oil producer to impose tax on petrol. Until now, I can see that majority net oil producer cum exporter will give subsidy to the petrol. Not sure we have again becoming the 1st - you know la....our government wants us to become no 1 in a lot of thing, be it good or bad.


The reason I'm blogging about this here is because I want to stress out how short sighted the Malaysian government is. Again in one of my previous post regarding the petrol price hike, I already stressed out the hike in the world crude oil and wanted to see the face of those who increase the petrol price over Malaysia when the world crude oil price down. And as predicted, the government is blushing and is not keeping the promise to let the price float with additional RM0.30 subsidy. I would assume that if the next GE when BN falls, it is not because PR is better choice. It is because BN flip-flop policies and short-sightedness when drafting the Budget. Actually with the removal of subsidy, the current government only caused the people from my era suffers. And we must not forget, GE happens every 4-5 years and the upcoming GE will have a lot of voters from my era onwards and not everyone support a party. We will vote those we think that can help us, and not vote blindly like people from the previous generation. Not that I want to say that I'm good in predicting things, but at least at the moment 2 out of 2 things that I posted happened. Well, we will see in 4-5 years time.

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