Last week it was reported [and here] that Tan Sri Mohd Hassan Marican, the President and CEO of PETRONAS is being considered as the new Iraqi oil chief, responsible for the rebuilding and management of the second largest oil reserve in the world.
Although some have argued that accepting the position if its actually offered would be "dishonourable", i think there are a lot of practical reasons why Malaysia shouldn't turn it down.*
*Don't mistake this reality: if Tan Sri accepts the appointment, it will be a political appointment that will reflect on Malaysia as a nation rather than the decision of an individual.
The war is Iraq is effectively over. For all our and the rest of the world's protests, the United States and Britain went ahead, did the business and now the world is faced with a vastly different realpolitikal environment in the Middle East. Iraq won't be deserted the same way Afghanistan was simply because it holds the key to a sustained global economic revival: oil. The logic is a simple one of supply and demand.
With the billions of barrels of oil Iraq can put into the market (probably unrestricted by the monopoly of OPEC; you an bet the house that an excuse will be cooked up to bypass OPEC controls), the price of crude will drop significantly. Just about every economic activity on this earth is related in some way and form to oil. A significant drop in the prices of oil will mean an equally significant boost to the global economy; taking into consideration economic "magnifier effects", the boost to the world economy will be unlike anything recent history has witnessed.
To have a chance to be a key cog in the wheel that makes this happen and turn it down would be a case of allowing pride to get in the way of progress. Malaysia's position in global politics would be greatly enhanced. The influence we would have on a host of matters ranging from Israel-Palestine issue to the future shape of international finance would considerable to say the least.
Some may argue that we would be selling our soul the West. We would be dismissing our principles in exchange for power. Principles are nice to look at and nice to hold, but they don't make much sense in the dynamic environment of global politics where success is measured by how well we adapt to given situations and opportunities. The United States and Britain don't have to offer this position to Malaysia but can we really afford to say no if they do?
This article was published on Malaysiakini.com at http://www.malaysiakini.com/letters/200304220034279.php
Read M Putucherry's response at http://www.malaysiakini.com/letters/200304230034290.php
Read Jeffrey's response at http://www.malaysiakini.com/letters/200304250034312.php
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