Price of petrol should be RM1 with subsidy and RM1.30 without subsidy

1 Barrel of oil = 152 liters of oil.
Price Per Barrel = US$ 41 (CLOSING PRICE IN AMERICAN MARKET).
Therefore, price per liter of oil is 41 divided by 152 = US$0.269 = US$0.27
Conversion to RM at US$1 = RM3.60,per liter of petrol is 0.27 x 3.6 = RM 0.972.
Cost of refinery and transportation per liter is RM0.32sen.Subsidy is 30sen.

Therefore,price of petrol per liter WITH SUBSIDY is
RM 0.972 + 0.32 - 0.30 = RM 0.992 = RM 1.00.

But price of petrol WITHOUT SUBSIDY is RM 0.972 + 0.32 = RM 1.292 = RM 1.30.
The above calculation prove that the govt is making money from the petrol price and it is advisable for the govt to reduce the price of petrol in order to reduce the burden of the RAKYAT.

Malaysiakini is 2 weeks late.

Today,Malaysiakini confirmed that Malaysia is in recession. With respect, web portal Malaysiakini confirmation is 2 weeks later than the confirmation of recession in Malaysia by George Choo on this website on my last posting on 19th November.As all our export market is in recession which make us lose our export revenue,the only way to avoid a recession is through "PUMP PRIMING" where the Govt spend big money on infrastructure projects to grow the economy through the "MULTIPLIER EFFECT".To do this the govt must have money like what the chinese govt have done by spending US$586 Million to move the economy.Unfortunately in Malaysia,because of corruption the govt is on the verge of BANKRUPTCY and it does not have money to carry out projects as it has cancelled projects like the Penang Outer Ring Road and monorail projects together with the fact that it has asked EPF to loan RM5 Billion to Valuecap.As I have advice the readers of this blog,we are in recession for the long run as the govt does not have money to grow the economy and the best defence is to control our expenditure as "NO ONE WILL CRY WITH YOU WHEN YOU ARE IN DEEP FINANCIAL TROUBLE".

CONFIRM : Malaysia is in RECESSION

If recession in Malaysia is measure by the number of pair of shoes purchased by the girls and ladies,then is is CONFIRMED that Malaysia is in RECESSION.It is reported that female shoe customer will on average buy 10 pairs of shoes every year but for 2008,they on average purchase only 7 pairs of shoes.The shoe industry is feeling the pinch of the global economic meltdown as sales have dropped 25% since Hariraya.According to the Malaysia Shoe industry Association sales for 2009 will be worse. The number of pairs purchase by female is a good economy indicator as it show the purchasing power of the ladies.Many years ago,I have a girlfriend Jenny who have the same ideology in shoes as Imelda Marcos.When she go to a shoe boutique,she will buy not one or two pairs but three pairs at any one time. The maximum number of times she wear each pair of shoes is 5 times and subsequently these shoes will be display at her shoes museum until chinese new year where she will take all to her hometown Ipoh and the shoes is given to all the ladies and girls FOC.In good times the female will buy more than one pair of shoes at any given time but currently they will buy only 1 pair. Hence,the shoe industry is expecting a dropped in business of more than 30% for 2009.Therefore,a good indicator have proved that Malaysia is indeed in RECESSION.

CHANGE,CHANGE AND CHANGE

Congratulations to the people of USA for being BRAVE TO MAKE CHANGES in voting OBAMA as the 1st BLACK PRESIDENT of the USA. In Malaysia, we must also BE BRAVE in changing the govt from UMNO and BN to the opposition.In this current Economic Turmoil,we need a clean and transparent govt who work for the people and the country .Because of this personal interest,the govt of Malaysia is in great financial difficulties. Remember that the Japanese have thrown out the Liberal Democrat Party (LDP) which is the longest ruling party in Japan. In Taiwan,the Taiwanese have thrown out the KUOMINTANG Party (KMT) when the KMT does not carry out its responsibilities to the Taiwanese.Hence,Malaysia should follow suit by throwing out UMNO and BN in the next election.Usually,political party that are thrown out tend to do better the next time around when they govern and hence Malaysian must change the govt instead of the other way round.Hopefully when UMNO and BN are sidelined,they will change to become better political party.Judging from the political structure of UMNO,I will bet to mt last dollar that UMNO will not change and we the voter have to do UMNO a big favour by changing the govt.By the way ,CONGRATULATION TO BARACK OBAMA.

Govt has no right to touch EPF MONEY.

I totally agree with MTUC President Syed Shahir who oppose the govt for ordering EPF to lend RM 5 Billion to Valuecap for investment in the local stock market.The hard earned money of the workers does not belongs to the govt,hence the govt has no right to order EPF to lend RM 5 Billion to a secretive company named Valuecap which is owned by Khazanah and PNB.In the nineties when Daim Zainuddin was the Finance Minister,EPF was asked to give a personal loan of RM 400 Million to Tajuddin Ramli.Luckily,the MTUC representative in EPF know about it and MTUC expose this deal and it was subsequently aborted. I will not be surprised if the RM 5 billion will be use to help UMNO cronies who are in trouble as a result of the collapsed in the Bursa Malaysia stock market. It was reported that as at 15 October 08,Malaysia has a reserve of RM 371 Biliion.I can safely say that we do not have this big foreign reserves because if we have the money ,the govt need not ask EPF to loan the RM 5 Billion to Valuecap.It will not surprised me if our foreign reserves is ZERO. Another matter that worries me is whether Valuecap has thw ability to repay EPF or not.Somebody please advise as to whether how an EPF account holder like me can stop EPF from lending to Valuecap.