Malaysia’s finance ministry and information department have both released some explanations on the country’s situation amidst the ongoing global fuel crisis. Because we consume 700,000 barrels of oil a day when our daily production is only at 350,000, Malaysia still needs to import crude oil, Bernama reports.
The conflict in West Asia has disrupted the global oil supply chain, including transportation and delivery, and affected the major shipping route through the Strait of Hormuz. Crude oil prices have gone up by nearly 40%, along with logistics and insurance cost increases.
48% of Malaysia’s petroleum product supply is refined by Petronas; the rest by other oil companies in the country. Meanwhile, 48% of Malaysia’s crude oil is produced domestically, 38% is imported through the Strait of Hormuz, 7% from Southeast Asia, West Africa and other regions, and another 7% from West Asia and elsewhere. Nearly 40% of the imports pass through the currently-affected Strait of Hormuz.
What’s the best way to cut our oil consumption? Work from home, carpool, public transport or EVs?
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how much oil do we export, though?
well, exporting 48% of high grade Tapis and Kimanis cannot be directly correlated to the 52% import of low grade high sulfur crude. u need to put the value in perspective and see if we are making a loss or gain due to this situation. if import is not enough, then sacrifice profit to take care of domestic issue first. It’s also a straight forward strategy (but likely our government chose not to see that just like the BYD CKD requirements!)
Easier said than done. Many oil production countries are members or collobrate with OPEC unifying the petroleum policies, oil price etc. This is directly affect global economy. What you have said is to secure Malaysia ownself. What if other big petroleum production countries do the same or control the export? The consequences may lead to some countries couldn’t have enough fuel for production goods, then price increase and high inflation. Airline not enough fuel, less flights and high price, not enough fuel to deliver ingredient for agriculture and all food price increase. We also import food ingredient, fertilizers, milks, rice (we may not have enough supply), electrical stuffs, toy etc.
There are more worse things gonna happen if based on your statement ” if import is not enough, then sacrifice profit to take care of domestic issue first.” Malaysia is not that critical compare to overseas countries like Philippines, Thailand, Vietnam and Indonesia. It is easy to be keyboard warrior without deep finding.
How about investing in renewable energy?
Renewable energy will not solve the problem when the everyone is still depending on fossil fuel for transportation. Even if someone invested in solar at home but still reluctant to switch to EV or PHEV, it is still doesn’t solve the issue.
The issue here is switching away from fossil fuel dependent mobility.
Work from home. Government should mandate work from home. Minimum 3 days at WFH.
The government has to look into giving more incentives for Hybrid vehicles, especially sub RM100k category.
To be realistic, the government and the industry have been missing their goal of setting up 10,000 charging station. The whole country will not just switch to EV all of the sudden.
There are a lot of people who have no access to charging station or charge at home especially those who are living on high-rise building, and for those who rent landed homes, not all of the landlords offer to install home charging points.
Provide guidelines and incentives to high-rise residential JMB to install charging points. Impose mandatory requirement to build charging points in new developments including high rise residential, offices, mall, commercial lots.
On infrastructure wise, Public transport has to be increased. Provide safe and sheltered walk way in the city to reduce the dependency on cars.
Introducing 2 tier pricing for tolls (peak and off peak) to reduce congestion. Traffic jam is one of the main contributor in wasting petrol.
Malaysian consumes so much because there’s no consequences to waste, there’s no incentive to save on petrol, everyone still drives like wastefully as petrol is still so cheap. The country’s tax revenue is not accounted for by anyone, politicians use it to buy votes.
This is why the gov should reduce the subsidy, not a popular thing to do but it’s needed. The country will save money and less B40 balik kampung unnecessarily. Also, less traffic jam and less mat rempit.
Spot on, the B40 balik kampung or going on road trip on a weekly basis like there’s no tomorrow. Car’s made easily accessible to them and fuel is too cheap. About time to pull the plug on subsidy and spend it on nation building. B40 should sit at home in the weekend and learn to read a book or watch something educational.
Well…if u put it that way then its those ‘unnecessary’ spending from B40 that makes the economy runs.
If they stop spending……How can T20 survive?
M40 are the smart ones, notices everything but did not fall into the trap.
B40 spending actually costs the country money because petrol is subsidized. if malaysia subsidised 1 ringgit per liter of RON95, then if B40 stopped pumping petrol malaysia could save billions of ringgit.
What do B40 contribute?
B40 only spent on roadside stalls that they themselves do not pay rentals or taxes.
Sambung bayar? No taxes paid.
Police saman? Never pay.
Bank loan? Never pay.
Even loan from pinjaman wang berlesen also never pay coz they know they can always go to NGO.
BYD: To help reduce oil crisis, can we sell Seagull EV here RM56K price?
MITI: Nope.
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What isn’t fake is you looking for excuses to continue behaving childishly.
Let’s go nuclear !
type c boss will force you masuk office anyway