The 'go go years' are over and our 'oil lottery' money is fast depleting mainly due to mismanagement by the powers-that-be, decried veteran politician Tengku Razaleigh Hamzah,<br /><br />According to the Petronas founder, the original plans of the oil giant did not include over-producing oil to pay for billions of ringgit worth of unnecessary government projects.<br /><br />"It started with this (defence equipment purchase) agreement with (then British prime minister) Margaret Thatcher, and suddenly the production of oil was doubled from 650,000 barrels per day to over a million barrels a day (to fund the purchase). That was too much for us," he said.
