Act now before oil reserves deplete
Ranbir Singh Khosa Jan 19, 07 4:16pm
Malaysia's oil reserves will finish in 10 years. Although this can be seen as bad news, there are several positive undertones.

Malaysia has enormous gas reserves. Petronas is diversifying its sources of income and it now has stakes in the oil fields of countries like Sudan. Also some 10 to 20 fields off Sarawak and Terengganu are being drilled - Malaysia only needs to strike one major oil find to possess new oil reserves.

Having said all this, our country can learn a lesson from those who have over-depended on oil revenues.

Our leaders can help encourage the hundreds - if not thousands - of local bumiputera, Chinese and Indian business people to develop new businesses which can generate revenue to offset possible shortfalls from the lack of oil revenues.

The government must formulate policies to encourage the setting up of these new businesses by all Malaysians. The opposition and the government must unite and should stop bickering over minor issues.

Please note that the clock is ticking. We have 10 years left before our petroleum reserves finish.
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