Friday, June 06, 2008

Oh, Go Save The World Then..

I think that sometimes people give too much credit to bloggers.

Whatever else will they ask bloggers to do next.

Like we can save the world?

Seriously, though. I'm no political blogger but I am figuring out how political bloggers can "make use of their influence to push for a global voice to object future tradings".

And I suppose, we'd have to ask the country's numero uno political blogger, Tun Dr Mahathir Mohamad to lead the way, if he thinks that that will help stabilise or contain petrol prices in Malaysia. Or that is worth any blogger's while.

But then, he has already given his two cents worth on the subject. H E R E

MIRI, June 5 (Bernama) -- Political bloggers in Malaysia should join forces to pressure for an end to futures trading activities that had caused the price of oil to sky-rocket worldwide, Sarawak Assistant Minister of Infrastructure Development and Communications Lee Kim Shin said here Thursday.

He said instead of continuing to blame the government for the price hike, political bloggers should make use of their influence to push for a global voice to object future tradings.

"In fact, the futures traders (for petroleum) are the real culprits for this (increase in the world oil price)," he said when participating in a "New Media Technology Workshop" organised by the Mass Communications Department of Technology Department Sarawak Campus here.

South East Asia Centre for e-Media (Seacem) project manager, Sean Ang and programme administrator and web editor, Rachel Chan conducted the day-long workshop that attracted 30 participants comprising politicians, journalists and university students. - Bernama


Hi&Lo said...

Future tradings cannot be banned cos it serves a purpose of financing primary producers. As the name suggests, it buys in anticipation of future demands. So, there's an element of speculation.

Like any good system, it's open to abuse. It may create an artificial spikes in price.

However, the market finds its own level. When prices go too high, lesser people can afford and turn to alternative sources. Thus, the bubble is awaiting to burst.

SEACEM said...

The statement was reaction to my slide title "Do you have the courage to protest against the oil price hike". Obviously, YB was interpreting that I am instigating the participants. Anyway, to cut the story short, he is trying to shift the blame to outsiders, just like what Dr. M did when he blamed Soros.

Letting the time pass me by said...

Hopefully people can still survive and have something to eat and to cherish in life...

I am wondering what happen to the government? Cutting subsidy, price increase? Are we run put of money? Is the country is desperate for money? Anymore money left in the Bank Negara?

Recession may be inevitable, but the government need to make sure that the impact can be soften for those with less money.... Not following the capitalism idea ... the poor is getting poorer and the rich is getting richer...