Face to Face published an interview with me today.
One of the points picked up by commentators was that I said oil price hike is inevitable. One person commented that it was silly to compare Malaysia with Britain.
First of all, I was not trying to compare the price GBP vs RM. That would be silly. A more accurate comparison would require comparison of purchasing power parity (PPP), but I did not intend to do that. I was just trying to make the point that in the UK fuel prices have been on the rise for many years, and the price figures were there to illustrate how the price has gone up (not to compare the actual prices).
Secondly, one person also said that you cannot compare Britain to Malaysia because, according to the commentator, “Dear wan comparing our oil with Britain is stupid since they import oil not export oil. Bodoh.” I am afraid the bodoh-ness goes back to the person who said this becuase it is obvious he does not know what he was talking about. The reality is, fuel price in the UK has been rising since I first arrived in 1993. During that period, the UK was NOT a net oil importer. In fact, they were, on average, a net oil EXPORTER. In 2005, an expert analyst said: “The UK will eventually have to import”. That means, even in 2005, the UK was still exporting but they expect to have to import soon (the UK became a net importer only in 2006). So, even when they were a net exporter, fuel price still went up.
Oh, by the way….. one of the sources of funds for the British “welfare state” government, to pay for their welfare provisions, is tax on fuel.
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