It was at least almost 10 years ago that my friend from Shell had told us that the reserve of oil and gas in Malaysia will run out within the next 15-20 years. I did not take it seriously as at that time it was still quite early for us to think about the problem. But right now, it means to say for the next 5-10 years to come, we will be depleted with this non-recoverable resource that Malaysia is so much dependent on all this while. My insider friends from Petronas also confirm this threat subtlely!
Our government really has to think hard on how to generate the kind of revenue that could fund our country in terms of policies as well as our future plans on how to run this country more efficiently. We could not afford to blunder as before that much money was wasted and dumped to the drain because of corruption and poor governance.
Petronas has to work extra hard to find alternative ways to survive and they could not enjoy the same high growth and profit as before, top management could not sit on laurels and wait for things to happen while the odds are obviously against them. They have to diversify and also to explore oil somewhere else within a very short time frame. If Kelantan or Terengganu state was to get oil royalty money, then they have to get it fast before there is no more oil left.
Malaysia and its "rakyat" at large will be at a cross road, as we are no more competitive in manufacturing compared to China, we have almost given up agriculture and we even have to import rice from Thailand. We are also no good at IT and the Multimedia Super Corridor does not seem to score any mark to make any real progress. The time will come very soon, we all will have to pay a high price for gasoline because we will have to import petroleum, few would be able to afford to drive any vehicle bigger than 1500cc!
My God, what are we going to do with Malaysia if we do not start to think hard and work hard now? How could we ever achieve our vision 2020?
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