Every crude oil producing countries allocate a percentage of their production for domestic consumption and the balance for export to earn foreign exchange.

Look at what Brunei and Saudi Arabia and the many more crude oil exporting countries do - both and all are net producers and net exporters of crude oil but there are no changes in the prices at their pumps for both petrol and diesel despite crude oil price now reaching US$140/- per barrel.

They are all enjoying boom times and a boost to their state coffers with the greatest windfall of all times with record foreign reserve balances. So why are we seeing the reverse in Malaysia? There is obviously a mismanagement of the funds from the powers-that-be.

Where have the windfall profits for Petronas gone to? A royal commission should be formed to investigate where all the profits/funds earned from our oil exports have gone to. I cannot imagine that a net producer and net exporter of crude oil like Malaysia has to be in this position.

The foreign exchange from our crude oil net exports are poorly managed or badly mis-managed and no one knows where all the profits over the years has gone to. There is no accountability by the powers-that-be. E should be enjoying a boom time and a boost to our economy. We should be celebrating.

Petronas must have badly mis-managed the windfall earnings by selling our Malaysian sweet crude forward at a miserably low price and buying low-grade crude oil at a hefty high price for local consumption.

If that is the case, all Malaysians have been betrayed. We have all been betrayed by this incompetent government with all the failed projects and wastage of all the Malaysian citizens taxpayers’ money.

Our future generations were supposed to have a bountiful legacy but it is now squandered and this has harmed the Malaysian economy with the inflation rate mounting daily.