Malaysia to run out of oil in 19 years?

I would like to thank a fellow blogger, for a link to an article in theage . It is an australian publication, and it raises some very interesting points about the situation here in Malaysia. If its the points are valid and accurate, i wonder what the future holds for us.

First off, i really loved the introductory 2 paragraphs:

"MALAYSIA'S been at it again, arguing about what proportion of the economy each of its two main races — the Malays and the Chinese — owns. It's an argument that's been running for 40 years. That wealth and race are not synonymous is important for national cohesion, but really it's time Malaysia grew up.

It's a tough world out there and there can be little sympathy for a country that prefers to argue about how to divide wealth rather than get on with the job of creating it."


Another interesting point, which has been on my mind is this:

"Next year, a Malaysian astronaut will go into space aboard a Russian rocket — the first Malay in space. And the cost? $RM95 million ($A34.3 million), to be footed by Malaysian taxpayers. The Science and Technology Minister has said that a moon landing in 2020 is the next target, aboard a US flight. There's no indication of what the Americans will charge for this, assuming there's even a chance that they will consider it. But what is Malaysia getting by using the space programs of others as a taxi service? There are no obvious technical benefits, but no doubt Malaysians will be told once again, that they are "boleh". The trouble is, they're not. It's not their space program."

I completely agree with that, and find it strange why no of us have picked up on that. Or maybe we have, and i just haven't been reading hard enough.

The icing on the cake:

"Bank bale outs, a formula one racing track, an entire new capital city — Petronas has paid for them all. It's been an orgy of nonsense that Malaysia can ill afford.

Why? Because Malaysia's oil will run out in about 19 years. As it is, Malaysia will become a net oil importer in 2011 — that's just five years away.

So it's in this context that the latest debate about race and wealth is so sad."

Well folks, sounds grim eh. The future looks clouded in deed, Master Yoda.