As the world faces energy crisis, Malaysia’s energy industry still manageable, says minister

December 7, 2021

I’ve been out circulation, when did this energy crunch start?

Dateline 2021-11-17, NST:

The world is facing an energy crisis where the demand for energy commodities exceeds supply and this is causing volatility in short-term pricing with global spot prices for natural gas reaching the highest level this year.

However, the impact of the energy crisis on Malaysia has not been alarming.

On October 5, 2021, in the Dewan Rakyat, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed assured that Malaysia has managed its energy security despite the price increase in energy commodities, namely coal and liquefied natural gas (LNG). 

Ringgit’s fall not due to Malaysia’s economy too dependent on oil and gas, says Mustapa

September 12, 2015

Yeah, you oil & gas folks.

Dateline 2015-08-09, Malay Mail:

The weakening of the ringgit is not due to Malaysia’s economy being overly dependent on the oil and gas industry as claimed, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

On the contrary, he said the devaluation of the ringgit to 3.92 against the US dollar (on Friday) was due to the volatile foreign exchange market despite the slumping oil price.

“So the ringgit fluctuates everyday. Just like when we go to the market, it (the prices of perishable goods) depend on the supply and demand.