Petrol Prices Reach US$100/Barrel Mark

keshy

500 RPM
Senior Member
Dec 12, 2007
528
698
1,593


Petrol prices hit the much-dreaded US $100 mark yesterday. This is for the price of crude oil futures for deliveries in February and marks a new all-time high for the cost of crude oil. No doubt, it has been close to US $100 a barrel a couple of times in the past few months, so passing the $100 level for the first time does not really change anything overnight considering the fact that it stayed that high for only a short time before falling again. The ultimate all time inflation adjusted high of US $102 a barrel was recorded back in 1980 after the Iranian Revolution. The fact that it fluctuates is not very heartening, but it’s good to know that there is a possibility it may once again fall to prices we are comfortable with.
 

csl

1,000 RPM
Senior Member
Aug 22, 2005
1,285
498
1,683
Malysia
It is time to raise the petrol price.

In 1997, where I bought my Satria 1.3M, the fuel price was about RM1.32/L. After 10 years, 2007, where the petrol price at RM1.92. Raised about 45.45%. But the crude oil price from US$23+@1997 raised to today's US$98+@2007 which is a whopping +-326% raise.

For reference :




Question 1 : We are producing oil. Should we use the profit to subsidy our own usage? Or use the profit to create more business and more job opportunities?

Question 2 : If one day the oil depleted, what will happen if the fuel price is heavily subsidized all the while? How big is the impact to our country, from a top businessman to a rubbish collector, base on the chain effect theory?

Question 3 : How long needed to recover, based on question 2 problem? Or we should have a preventive move right now?

I think the petrol price should be raised for at least RM0.60/L. But the natural gas/LNG and diesel should have a minimum raise like not more than RM0.15 per unit (L or Kg), better to have no raises. Because we can live with less petrol, worst to worst use scooter. But if the diesel/gas raise, sure have big inflation and the development of the industrial sector will slow down. Need to raise slowly to avoid huge impact. We are free when no need to be subsidized.

Of cause, we can enjoy it now, I think most rakyat will agree. But we or our next generation will suffer it later. Why not let the fuel price raise step by step and slowing change the country's economy structure to less dependent on natural resource type? At the same time, the gov should pro-active of introducing alternative fuel options, like bio-diesel, hydrogen or etc. I believe Malaysians are intelligent and creative. If the 100% bio diesel can be found easily, I have no doubt that the motorcycle shop is selling bio diesel scooter that made by Malaysian.
 

sta

500 RPM
Senior Member
Dec 26, 2004
639
2
3,018
government should reduce wastage from mega projects and introduce incentives for alternative fuels

but one thing i learn over the decades, government is useless.
 

Z_Edition

500 RPM
Senior Member
Aug 11, 2006
500
1
1,518
spot on...
 

xand

Known Member
Senior Member
Apr 26, 2006
410
13
1,518
Kuala Lumpur
www.facebook.com
hope there's a preparation for alternative energy source; palm oil as fuel... ya, the gov should invest more in developing another type of energy source instead of sending someone to outer space as flight participant, which excuses to do some tests and experiments (which has already been done by the US and Russia)...
 

csl

1,000 RPM
Senior Member
Aug 22, 2005
1,285
498
1,683
Malysia
government should reduce wastage from mega projects and introduce incentives for alternative fuels

but one thing i learn over the decades, government is useless.
No offense, please tell me how to make money for giving incentive to alternative fuel when rakyat has no job to generate income to pay tax or even buy bicycle tube? Fueling up your tank is your own business. You can opt for alternative way, like riding bicycle (only need to suffer a bit. I used to cycle to work, about 12km@50 minutes for 1 way. Most people at work laughed at me). The 1st priory for gov should be make sure everyone has a job. Else, a lot of social problem/sickness will occur.
 

fakanetic

Active Member
Senior Member
Mar 21, 2006
26
17
1,503
the government should improve public transportation so that people would still find alternative.i agree that the longer the govt subsidize our petrol...the impact will be greater due to sudden increase of price.

hehehehe waiting for diesel civic type r.honda engineer have been researching for high revving diesel engine.maybe 2.2 k20a?wait and see.
 

xand

Known Member
Senior Member
Apr 26, 2006
410
13
1,518
Kuala Lumpur
www.facebook.com
the government should improve public transportation so that people would still find alternative.i agree that the longer the govt subsidize our petrol...the impact will be greater due to sudden increase of price.

hehehehe waiting for diesel civic type r.honda engineer have been researching for high revving diesel engine.maybe 2.2 k20a?wait and see.
i think i've heard someone said before that the Gov stop paying so much subsidies as to save some budget to improve the public transportation; Rapid-KL and Rapid-Penang development for examples: this is to ensure the rakyat use more public transport rather than driving own transport and eventually, we will pay less for petrol... is this consider improvement??
 

tony5050

Known Member
Senior Member
Nov 18, 2003
224
28
3,028
cashy,
this is a hot topic to bring up among us the petrolhead revving like nobody's business when the oil price is shooting up...:adore:

csl,
well, i do have some input to your questions..just my 2 cents anyway.

Q1: Indeed, we are producing oil and we are still a oil net exporter country. Oil for producing nation means so much, for security reason, for wealth, for commodities, for subsidies of all sorts..and there were even news that our government is still under a contract wtih Japan which we are selling about $78 per barrel until 2010, but we signed it during 1990s when the barrel price is around $50++.
However, i think Petronas, by itself and under so much of constraint from goverment, is still doin very good job to make sure their Green Book every year...our Petrol and Diesel price are subsidies by goverment, but do you know the GAS price for all the taxi ( less then 1% production ), for power plant of TNBs station ( almost 70% of production ) plus all the sales to factory are sold by Petronas by their own Subsidy. Yes, i mean their own. Break even price for the gas for a unit is still around RM1.30 now, but we are getting it at RM0.68 per unit....

Like u mentioned, raising the price step by step is always NOT the correct way to many rakyat, they are hoping that goverment will keep subsidising. But then, raising step by step is the ONLY way our goverment have..what else can they do?? Perhaps, we are being so damn lucky to be one of the largest producer of Natural Gas, which we can use for energy, in SEA region. Defintely one of the goverment's backup plan, i hope...

As citizens, i think we just have to prepare for the price hike, not to mention about those businessman who depends on oil..transporter, fisherman even..
Well, the best long term way i see now is...i got my Perdana V6 installed with the NGV...really saving up and i'm proud that at least my Perdana is 4 times cleaner then any newest Gasoline Emission regulation in the world:burnout:

Goverment for all these effords??...well, who knows what the "NEXT GEN" government's gonna do and how they gonna act???...the good old TUN 's' time is really coming to an end i think...:slug:

again, just my personal thoughts..
 

Boink Boink

Known Member
Senior Member
Nov 18, 2003
191
1
3,018
I confirm, Malaysia is a nett exporter of crude.

Eh..... I encourage all petrolhead brothers to read this.....

http://www.eia.doe.gov/emeu/cabs/Malaysia/Background.html

Which will essentiall tell you;
"Exploration and Production

Malaysia’s proven oil reserves have declined in recent years, despite growth in E&P activities. Petronas and its various PSC partners have been most active exploring offshore areas, especially in deepwater zones that pose high operating costs and require substantial technical expertise. Despite several new projects that are set to come onstream in the next several years, EIA forecasts that Malaysia’s oil production will fall to 693,000 bbl/d in 2008, a 13 percent decrease from 2006 levels."

You make the conclusions yourself.

On the point about alternative fuels, look at biodiesel which relies on palm oil.
What is the price of palm oil now per metric ton? And the price is at one of its peaks? Why?

Also, I am against alternative fuels which use things like sugar cane, beans, malt, grain and what ever... there are too many people dying already around the world, and we wanna use food as a fuel? Can you imagine how many people will not be able to afford minimum amounts of food because the demand to convert it into fuel has become more lucrative than feeding the poor?

Someone please re-invent the horse-less carriage concept. Thats what the world needs.

Alternatively, nuke half the world, and let mother nature rebalance itself. Afterall, I bet whoever invented earth and human beings never thought that we would have so many billion people trying to survive today.

Between the two, I think the former is probably more realistic.:hmmmm:
 

rusifiz

Known Member
Senior Member
Nov 15, 2005
193
0
1,516
kl-sban
www.fgsn9.com
I wish Iran will successfully develop their nuclear plant, and sell the technology cheap to other countries. when that happens, we don't have to depend on petrol/diesel for electricity and soon the crude oil price will drop.

(well, of course I'm talking based on the conspiracy theory that Iran has found the most effective way to extract power from radioactive material, and if they sell the technology, we don't have to rely on petroleum for power anymore. The US govt is so damned that when that happens, the price of crude oil is going to drop way below the price they bought their 70years of crude oil reserve)

or, I'm just not in the correct state of mind at 12am.. hehehehehe
 

audi_evo3

Known Member
Senior Member
Jun 27, 2007
53
0
1,506
i hope the oil price will continue on increasing for a few more years so that petroleum engineers will have good prospect until years to come.hehe
 

csl

1,000 RPM
Senior Member
Aug 22, 2005
1,285
498
1,683
Malysia
We all know crude oil is not renewable. It will deplete 1 day. We can choose to face it earlier and do preparation or face it last minute and let everyone get caught. A lot of people know this thing. But just refuse to sacrifice for the future generation. When we say "never mind, drag 1 more year will be alright" every next day, it will be like no ending story. A man should face a problem like a man. Worst to worst just ride bicycle. But not being a coward and keep on asking for subsidized. What the gov give is the gov business. They have no responsibility to subsidize our luxury dream. They should focus on the economy developing. Make the market demand for people but not like now, hundreds of people interview for 1 job. If you really qualify to own a car, that RM0.50 or even RM1 raise should not effect that much. Only those who is not really quality (falled into the 9-10 years trap), will suffer for even a RM0.10 raise. Price to pay for the face.
 

csl

1,000 RPM
Senior Member
Aug 22, 2005
1,285
498
1,683
Malysia
I wish Iran will successfully develop their nuclear plant, and sell the technology cheap to other countries. when that happens, we don't have to depend on petrol/diesel for electricity and soon the crude oil price will drop.

(well, of course I'm talking based on the conspiracy theory that Iran has found the most effective way to extract power from radioactive material, and if they sell the technology, we don't have to rely on petroleum for power anymore. The US govt is so damned that when that happens, the price of crude oil is going to drop way below the price they bought their 70years of crude oil reserve)

or, I'm just not in the correct state of mind at 12am.. hehehehehe
I believe that US is at the back of this thing. Wanna hit Asia fast rising development. But regardless what, Korea can let it free float, why not us?
 

sta

500 RPM
Senior Member
Dec 26, 2004
639
2
3,018
ok , how about raising petrol price, but reducing car price & improving public transport.
 

Random Post Every 5 Minutes

Toyota Corolla KE70 model DX, which is the perfect/ ideal engine for this machine?

I prefer 4AGE but Halfcut AE86 very expensive!
Any modification come with high horse-power (BHP) but minimum modification on the car example mounting shifting, panel knocking and etc?

I prefer mod for street legal drift machine that no problem with JPJ/ Puspakom!



There's a few suggestion by mechanic and...
Ask a question, start a discussion or post something for sale!
Post thread

Online now

Enjoying Zerotohundred?

Log-in for an ad-less experience