Stop Kimanis-Bintulu gas siphoning

SAPP maintains that Sabah should keep its natural gas for local industries

KOTA KINABALU, July 25, 2010: The State government should not have agreed to or allowed Petronas to siphon the natural gas from offshore of Sabah all the way to Bintulu, Sarawak in the first place, if it was really serious about developing the local industries, the oil and gas industry in particular, said Luyang State Assemblywoman, Melanie Chia.

For the same token, Petronas should not have even think of such a plan let alone pushing for it despite strong objection from the people of Sabah, besides Federal Cabinet's instruction (to Petronas) to give priority to Sabah if the State required the resources, as what has been noted by Plantation Industries and Commodity Minister Tan Sri Bernard Dompok in his statement two months ago.

Ku Li: Malaysia’s oil wealth squandered!

Tengku Razaleigh Hamzah hit the nail on head, painting a bleak future for Malaysia under the Barisan Nasional government which has squandered the nation’s oil wealth of billions and billions of ringgit.

The former Finance Minister of Umno said that Petronas oil have been used “to bail out failing companies, buy arms, build grandiose cities amidst cleared palm oil estates”.....The oil that was meant to spur our transition to a more humane, educated society has instead become a narcotic that provides economic quick fixes and hollow symbols such as the Petronas towers!

That is also to say that Sabah's wealth was squandered by the BN-Umno federal government, Petronas and their cronies!

Government makes RM16mil a day from fuel windfall

The crude oil price in New York fell to a four-year low at below US$44 per barrel yesterday, dragged down by demand worries amid the worsening outlook of the global economy.

At this level, the market price for RON 97 grade petrol should be about RM1.30 per litre, which is 60 sen lower than the RM1.90 per litre Malaysians are currently paying, the analysts said.

Based on a consumption estimate of 27.5 million litres per day, this translates to roughly around RM16.5mil in extra revenue a day for the Government.

Now, the feds are sucking every 60 sen per litre from consumers. Pay back time? Who is profiting all along? "Head I win, Tail you lose" fits in.

Can anyone explain the rationale?

If the method of calculation of petrol price is correct, it looks like
we consumers are been screwed all the way. So what are we going to do?
-----------------------------------------------------------------
Petrol price calculation:


1 barrel = 158.987146 liters

Current international price USD54.64/1 barrel
Current exchange rate: USD1 = RM3.61
Previously when oil price was USD145/barrel:
USD145 x 3.3 (exchange rate) / 159 liter = RM3 - RM0.30 (subsidy) = RM2.70

Current oil price @ USD55/barrel:
USD54.64 x 3.6 (current ex rate) / 159liter = RM1.23 (no subsidy)

Current petrol price: rm2.00 but actual price is RM1.23 so we pay back
to government 77 cents. What happen to the money???

PETROCHEMICAL INDUSTRY FOR SABAH!!?!!?

On 8 November 2008, it was reported that Minister in the Prime Minister’s Department Tan Sri Bernard Dompok had said that the Federal Government in their cabinet meeting agreed that a full-fledged petrochemical industry would be set up in the state using natural gas obtained from Sabah.

Subsequently, Chief Minister Datuk Seri Musa Aman hailed the decision of the Federal Government to set up a petrochemical industry in the State, saying it augurs well for the Sabah Development Corridor plan.

This has prompted Deputy Chief Minister Datuk Yahya Husin to jump on the bandwagon saying it is a privilege the people in Sabah should enjoy given its natural resources.

The interesting thing is that only excess gas will be piped to Bintulu.