I was up much earlier than usual for a Sunday morning, no thanks to the continuing warm weather. Taking advantage of the extra hours I had as a result, I surfed for news.

USD100 a barrel. I remember while working in an investment bank in Malaysia, the weekly analyst briefings I attended suggested various companies would remain viable as long as oil stayed at what – USD40 a barrel? How do these companies cope now?

With that level of oil prices, surely the reduced consumer spending capacity would hurt the economy? Apparently not. At least that’s what the Malaysian Finance Minister thinks. Ah well, he is the Malaysian Finance Minister, past central bank credentials notwithstanding (actually he screwed that one up as well). While everyone else in the world thinks USD100 barrel is a problem, Malaysia thinks otherwise…

Perhaps he was thinking, not of the economy, but of the politicians who stand to benefit from Petronas’ windfall. It may be good for Petronas, but does it benefit the economy? Many Malaysians would smile and give you a knowing look.