New mechanism puts inflationary pressure on rich and poor alike

July 27, 2014

Dateline 2014-06-03, Sin Chew Daily:

Once the government has put into implementation the “eligibility for subsidized fuel purchase” mechanism, those in the low and medium income bracket are not expected to be severely affected, but it is inevitable that the public will have to confront the inflation problem thanks to rising fuel cost.

The Petroleum Dealers Association of Malaysia (PDAM) hopes the new mechanism will make things convenient for vehicle owners while not excessively increasing the burden of petroleum dealers in the country.The association believes the prices of RON95 and diesel will inevitably be increased progressively.

According to the SMI Association of Malaysia once the government has specified that only those earning RM5,000 and below will be entitled to purchase subsidized fuel, small businesses will be affected.

Some believe the public will better accept the government’s plan if the subsidies saved could be used to improve on existing transportation facilities and development.of new infrastructure.

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New fuel subsidy plan will create black market, PKR MP warns Putrajaya

July 26, 2014

So, we’ll buy petrol literally of the back of lorries, eh? I say remove all subsidies, improve and extend bus, LRT, MRT, train and becha services, raise taxi fares (have you seen the taxi fares in Kerteh?), summary execution for errant bus and taxi drivers.

Dateline 2014-06-03, Malay Mail:

Putrajaya’s plan to sell fuel at different subsidised rates to different income groups may create a “black market”, PKR’s Pandan MP Rafizi Ramli said today.

The PKR leader said the government’s bid to limit or deny high-income Malaysians’ access to subsidised fuel could end up creating an illegal trade and result in an abuse of the system among those in the lower-income categories.

“I worry if this new subsidy system is not refined and openly discussed, when it is implemented in the future, it will create a black market for petrol and diesel that will create a new and larger problem than the existing smuggling because it involves even more people and the public,” the outgoing PKR strategic director said in a statement today.

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Flesh out pledged Sarawak oil royalty hike, Putrajaya told

July 25, 2014

Dateline 2014-06-03, Malay Mail:

Putrajaya must set a deadline to discuss revising royalty payment for oil-producing states to demonstrate the sincerity of the prime minister’s pledge to consider increasing the quantum, Sarawak PKR vice-chairman See Chee How said today.

See told a press conference at the state PKR headquarters here that verbal assurance alone was not enough, and that such an increase must not come in the form of development grants as these were already the federal government’s obligation.
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High Growth Potential In Biogas Industry

July 24, 2014

After we strip Malaysia bare of her O&G resources, us engineers have to find another rice bowl. Or let’s go nuclear.

Dateline 2014-06-03, Malaysian Digest:

MALAYSIAN Biotechnology Corp (Biotech Corp) targets Malaysia’s biogas industry to achieve RM20 billion in gross domestic product by  2020 from the current infancy state of a handful of biogas plants in Peninsular Malaysia and Sabah hooked to the national power grid.

“We think Malaysia’s bioeconomy is able to achieve a target of RM150 billion by 2020 and the biogas sector should make up 15 per cent contribution at RM20 billion,” said Biotech Corp chief operating officer Razwin Sulairee Hasnan Termizi.

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Marketing Rounds – Vung Tau

July 23, 2014

As you can guess, I haven’t been anywhere else for a while.

 

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PM: We’ll consider Sarawak’s request for higher oil, gas royalties

July 22, 2014

Dateline 2014-06-22, The Rakyat Post (huh?)

The federal government will give utmost consideration to Sarawak’s request for higher oil and gas royalties, said Datuk Seri Najib Razak.

The Prime Minister said the federal government had no qualms in negotiating on any matters with the state government over its interests.

“The federal government will give utmost consideration to this matter (request for higher oil and gas royalties),” he said at the Malaysia Gawai Dayak Open House 2014 at Dataran Kipas here tonight.

Sarawak Yang Dipertua Negeri Tun Abdul Taib Mahmud and Chief Minister Tan Sri Adenan Satem were present.

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Saturday Star 2014-07-19 – Job Opportunities

July 21, 2014

Selamat Berpuasa.

Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Talisman is looking for people. Have they got new acreage? Go and bug them here.
  • PETRONAS Chemical Groups is looking for a mess  of people. Go and bug them here.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

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Extract from “Young Turks” – Legacy for the Future

July 20, 2014

Predictions when we run dry:

In the early days, the Task Force conceded to the oil companies’ conclusion that the crude oil reserves for Malaysia could meaningfully last only for 14 years should no further new discoveries be made. Anticipating an explosive growth in domestic consumption on account of industrialization and modernization, it was possible for Malaysia to become crude oil importers within ten years.

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Visit here and buy books so I have some spending money.

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Highest and Cheapest Gasoline Prices by Country

July 20, 2014

dateline 2014-06-02, Bloomberg:

Malaysia

Price per gallon of gasoline: $2.42
Rank by most expensive gas: 54
Rank by pain at the pump: 37

Malaysia’s extensive fuel subsidies give it one of the lowest gas prices in the 61-country ranking.

Cheap gas comes at a cost; despite strong economic growth, Fitch Ratings lowered the country’s credit rating last year. Soon after the rating drop, Prime Minister Najib Rasak cut the fuel subsidy by almost 23 cents a gallon.

Gas prices rose 11 percent since July when priced in Malaysian ringgits.

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Bigger role for natural gas, says Petronas VP

July 19, 2014

Considering the price of natural gas used to generate electricity will based on the market price by January 2016, then yeah.

Dateline 2014-05-27, Daily Express:

Natural gas will play a central role in meeting the world’s increasing energy demand in the coming decades, said Mohamad Johari Dasri, Vice President, Production Malaysia, Petronas Carigali Sdn Bhd.

He said one possibility of trading natural gas is in the form of liquefied natural gas (LNG) which is currently representing almost 30 per cent of the imported natural gas worldwide.

In his keynote address titled “The Oil and Gas Industry in the Next Five Years”, he said the global energy map is changing, with potentially far-reaching consequences for energy markets and trade.

It is being redrawn by the resurgence in oil and gas production in the United States and could be further reshaped by a retreat from nuclear power in some countries, continued rapid growth in the use of wind and solar technologies and by the global spread of unconventional gas production, he said.

He said taking all new developments and policies into account, global demand has surged nearly 30 per cent to 88 million b/d (all liquids) since 1995 and expected to expand by around 12 per cent and to make up around 30 per cent of the world energy mix by 2020, according to EIA reference scenario.

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