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I've asked this question many times before, and
I'll ask it again - Since Malaysia is a net petroleum producer, why does the
population not rejoice when the world price of petroleum goes up? Instead, what
happens is that when the world price of petroleum goes up, the prices at the
local pumps will go up too.
Then ... what is the use of having petroleum reserves
even exist here in the first place?
Well, the reason why I repeat this question is that
all the times I've asked it, I cannot remember getting any satisfactory answer.
Or even a tongue-in-cheek, witty one. The reaction elicited being "..." or some
mumbling that reflects the sentiment as expressed in the title of this very
post.
Wonder if I could get some answer now which is ...
hopefully insightful ones, but at the very least, not a boring
one...
Being the producer of so-called high-quality
low-sulphur petroleum, coupled with a relatively low population, conventional
thinking would point that we should in fact be rolling in contentment with every tick in the
never-ending upward spiral of petroleum prices. (Loudspeaker and ticker tapes
announcement in city: Today, the world oil prices went up by another $1.
Reaction of populace: "Hooray!" *throws bags, briefcases and other objects into
air in celebration*)
Somehow that above imagined scenario has a rather comical
feeling to it...
A bit more grim, though, is that the reality of the
chain effect of the rising cost of living for the peasants brings to mind this quote:
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Marie Antoinette - if they don't have bread, then
they can eat cake!
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(Historically, though, this phrase is said to have
not originated from her, but then again, regardless of the accuracy of the
attributing of this quote to her, she lost her head in the ensuing social
upheaval, nevertheless.)
Note: As this kind of post has caused
misunderstandings before, must mention beforehand that this is not an
emotionally charged post. The impersonal anonimity of the Internet always tends
to double the severity of apparent negative emotions, while halving the effect
of good intentions.
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