As petrol prices increase, the global demand for more sustainable energy sources will also rise. Malaysia is the world's largest palm oil producers and palm oil is the world's most traded vegetable oil.

Crude palm oil (CPO) futures have remained strong on Bursa Malaysia Derivatives for the past 25 years and will continue to be the world's largest derivatives exchange dealing in palm oil contracts.

Trading volume was far from what we wanted. Velocity was very low, at about 25 per cent (for the whole of 2005).

If the rise in petrol prices in the producer-price data is reflected in the CPI data, there is a risk the inflation rate could be 2.2 percent.

Turkey's energy bill due to imports will fall with the increase in use of renewable energy sources. We have no control over the prices of petroleum and natural gas.

With gas prices nationally, and especially in our area, increasingly on the rise, it is more crucial then ever that we take steps to diversify our energy sources and reduce our dependency on foreign oil.