Petronas Profit Vs Govt Subsidy (Part 3) : Why the Price Increase is Not Justified.

Petrol Increase : Govt Subsidy Vs Petronas Profit (Part 3)

Referring to my previous to post in my blog regarding Govt Subsidy Vs Petronas Profit
Petrol Increase : Govt Subsidy Vs Petronas Profit (Part 2)
Dated 5 June 2008
http://malaysiavoices.blogspot.com/2008/06/petrol-increase-govt-subsidy-vs.html
Govt Subsidy Vs Petronas Profit
Dated 18,April 2008
http://malaysiavoices.blogspot.com/2008/04/govt-subisdies-2008-vs-petronas-profit.html

I am trying very hard to explain to everyone why the increase in Petrol Price is not justified........
Just to add some facts to the my previous postings....

All Malaysian Main QUESTION and concern :
Why do our Petrol Price need to increase?

ANSWER by our MALAYSIA GOVERNMENT ......
Because Global Oil Price increase, thus Government Subsidy will need to increase to maintain current Petrol price.

Malaysia Alternative Voices
FACTS AND FIGURE :
The Global Oil Price increase from US$ 31.54 in year 2003 to US$ 61.64 in year 2006
Source : NST dated 6 June 2008
Percentage of Increase : 95.43 %
Petronas Profit Before Tax increase from RM 26.88 Billion *(2003) to RM 70.76 Billion* (2006) same period of time
Percentage of Increase : 163.27%
Source :
http://www.petronas.com.my/internet/corp/centralrep2.nsf/Src/WebDoc*Investor+Relations+Default/?Open
Note : Calculation is based on conversion 1 US : 3.80 RM as there is currency Peg during that period of time.

As Global Oil Price increase by 95%, Petronas Profit increase by 163%.


So isn't it justifiable that Government subsidy on Petrol Price should increase accordingly???????

So doesn't it mean as a Oil Producing Country, Global Oil Price Increase shouldn't be an EXCUSE for raising Petrol Price??????




If you referred to my first posting on Govt Subsidy Vs Petronas Profit, i have included a link to the Petronas Financial Statement from 1999 to 2008. If i am a Layman and these information is available to me......
Source on Petronas Profit
http://www.petronas.com.my/internet/corp/centralrep2.nsf/Src/WebDoc*Investor+Relations+Default/?Open

Facts and Figure

1999
Petronas Profit Before Tax : RM 11,884 Billion
Global Oil Price (US$ per barrel) : N/A
Malaysia Petrol Price (RM per litre) : RM 1.10 (From 1990 to 2000)

2000
Petronas Profit Before Tax : RM 21,611 Billion (Increase 82%)
Global Oil Price (US$ per barrel) : 24.68
Malaysia Petrol Price (RM per litre) : RM 1.20

2001
Petronas Profit Before Tax : RM 29,029 Billion (Increase 34%)
Global Oil Price (US$ per barrel) : 25.90
Malaysia Petrol Price (RM per litre) : RM 1.30

2002
Petronas Profit Before Tax : RM 24,318 Billion (Decrease 16%)
Global Oil Price (US$ per barrel) : 30.86
Malaysia Petrol Price (RM per litre) : RM 1.32, RM 1.33


2003
Petronas Profit Before Tax : RM 26,877 Billion* (Increase 11%)
Global Oil Price (US$ per barrel) : 31.54
Malaysia Petrol Price (RM per litre) : RM 1.35


2004
Petronas Profit Before Tax : RM 37,455 Billion* (Increase 39%)
Global Oil Price (US$ per barrel) : 40.28 (May)
Malaysia Petrol Price (RM per litre) : RM 1.37 (May)
Global Oil Price (US$ per barrel) : 53.13 (May)
Malaysia Petrol Price (RM per litre) : RM 1.42 (May)

2005
Petronas Profit Before Tax : RM 58,037 Billion* (Increase 55%)
Global Oil Price (US$ per barrel) : 56.26 (May)
Malaysia Petrol Price (RM per litre) : RM 1.52 (May)
Global Oil Price (US$ per barrel) : 58.70 (July)
Malaysia Petrol Price (RM per litre) : RM 1.62 (July)

2006
Petronas Profit Before Tax : RM 62,877 Billion* (Increase 11%)
Global Oil Price (US$ per barrel) : 61.64
Malaysia Petrol Price (RM per litre) : RM 1.92

2007
Petronas Profit Before Tax : RM 80,362 Billion* (Increase 14%)
Global Oil Price (US$ per barrel) :N/A
Malaysia Petrol Price (RM per litre) : RM 1.92

2008
Petronas Profit Before Tax : N/A
Global Oil Price (US$ per barrel) :121.00
Malaysia Petrol Price (RM per litre) : RM 2.70

Based on the above Facts and Figure,

(1) As the Global Oil Price Increase , Petronas Profit Increase
Rationally
(2) As Petronas Profit Increase, Government Subsidy Should Increase
(3) As Government Subsidy Increase, Petrol Price should remain or reduce
But
An UNRATIONAL GOVERNMENT
(1) AS PETRONAS PROFIT INCREASE
(2) GOVERNMENT SUBSIDY DECREASE
(3) PETROL PRICE INCREASE
(4) RAKYAT (PEOPLE) BURDEN AND SUFFERING INCREASE

WHY ARE THE GOVERNMENT ELECTED BY THE RAKYAT (PEOPLE) DOING THIS TO THE RAKYAT (PEOPLE)?

WHY ARE THE RAKYAT (PEOPLE) BEING TAKEN FOR A RIDE BY THE GOVERNMENT?

THE GOVERNMENT ARE TREATING AS IF THE RAKYAT (PEOPLE) are STUPID?

CAN SOMEONE PLEASE EXPLAIN THE ABOVE FACTS AND FIGURE TO ME.

A CONFUSED
MALAYSIA BLOGGER
MALAYSIA ALTERNATIVE VOICES