M’sia to lose billions with oil price fall


Dateline 2014-10-28, Free Malaysia Today:

One of the Black Swan events that the current budget did not anticipate is the fall in oil prices.

The Black Swan Theory, developed by Nassim Nicholas Taleb, is a metaphor that describes an event of major significance that comes as a surprise. Often psychological biases prevent people from comprehending or anticipating those events individually and collectively.

While the Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah is still talking about having a multi-tiered fuel pricing mechanism, which is essentially a contract for the boys, the Finance Ministry should be concerned with the prospect of failing oil prices.

In my Parliamentary Speech yesterday evening, I called on Prime Minister and Finance Minister Dato Seri Najib Razak to present a ministerial statement on what impact the falling crude oil prices will have on Budget 2015.

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This entry was posted on Tuesday, December 30th, 2014 at 6:54 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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