The 10th edition of the Petronas Malaysian F1 Grand Prix was successfully held over the weekend, which marks a decade of success of the event. It has been a wonderful decade for the Sepang race, as it has managed to put Malaysia on international map for good reasons.
Ferrari’s Kimi Raikkonen claimed this 2008 title, which also saw BMW Sauber’s Robert Kubica finished on the podium… the first podium for the Petronas sponsored team at the ‘home race’.
The 2008 Malaysian F1 might be the last daytime race in Sepang, as race organisers Sepang International Circuit (SIC) is eager to stage their first ever night race as early as 2009, two years ahead of schedule… another kiasu rivalry against Singapore that are going to run the night race in September 2008.
With the price of crude oil rising above 100 dollars a barrel, it’s inevitable that our petrol price is going up pretty soon.
Malaysia is not facing bankruptcy danger even if we keep the price level… what Deputy Prime Minister Najib Abdul Razak claimed prior to the New Year Day was obviously to demean the opposition parties instead of solid economic facts. Najib said that the opposition’s promises to reduce oil prices if it were to form a government will only bankrupt the country, because it’s not possible…
It doesn’t take a genius to realise that the government controlled Petronas would be making extra money following the rising oil price as well… the government is probably not losing too much with the subsidies compared to a few years ago (if there is any loses at all).
Khairy Jamaluddin was right though when he said on Umno’s General Assembly in Nov 2007 that the petrol subsidy could be better spent on other developments. My point of view is still the same… that it would be a wise move to cut the petrol subsidy ONLY IF the money are spent at the right place (education, health care etc.) and not going to dubious projects like Angkasawan or buying a new submarine… or perhaps the worst - to waste and corruption.
Considering that Malaysia won’t be having much petroleum resources left (probably finished in a decade or two without new findings)… our government need to be proactive in finding new energy resources (bio-diesel, solar power etc.) and reducing petroleum consumption. We need a better public transport system to start with; it’s a pain to travel in Malaysia without a car.
At the meantime, we the common citizens just have to be prepared for the next price hike.
Prime Minister Abdullah Badawi is happily announcing one mega development project after another… the Iskandar Development Region (IDR), Northern Corridor Economic Region (NCER) and other billion Ringgit projects like Trans-Peninsular Oil Pipeline and all the railway projects etc.
It is easy to come out with a plan, but lots of questions remain uncertain… is it feasible to work on all those mega projects at the same time? Are Malaysians capable of funding the projects ourselves? How are we going to attract foreign investments? Who are going to benefit from the projects? What will happen to the projects if another economic crisis landed on Malaysia like in 1997?
Do we need these projects?
Perak government has spent millions if not billions to develop various industrial areas; most of those areas are close to being wasteland now. It is easy to draw planning and providing infrastructure, but what happen if we could not attract people to invest at those areas? And do we really need all these development?
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