For sake of enhancing the knowledge of Author, the price of crude oil are traded daily on working days, for deliveries between 30-60 days, depedning on how much time it takes to reach a refinery. So if Govt hikes the price today, it has no co-relation to price of oil in world market, which would take effect 60 days later !! You can also hedge your buying for any period of time, and take a gamble.
very good assessment of the congress rule in the last 4 years ... this spineless govt knows only one thing .. how to lick feet of communists and how to fleece common poeple while claiming to be with aam aadmi ... it is high time we teach these bunch of thugs a good lesson in the next election.
RE:appropriate report card
by Kabir on Jun 11, 2008 11:42 AM Permalink
We have all been hearing that petrol prices have been raised by Rs 5 in order to save the economy, but see the following irony: Current Price/litre of petrol in Bangalore = Rs. 58.50 74 (US Petroleum Barrel conversion rate 158.987 litres) Price/barrel of petrol in Bangalore 58.50 * 158.987 = Rs. 9300. (assuming Rs40/dollar 9300/40 = $232) Price/barrel of petrol in Bangalore in dollars (USD) assuming Rs40/dollar = $232! Isn’t the world market rate of oil $130 per barrel? Keep in mind that India is self sufficient in processing crude oil and 90% of the processed petrol cost is that of crude oil. TO TOP ALL THIS, GOVERNMENT SAYS THAT THIS INCREASE IS NOMINAL TO AVOID ECONOMY FROM COLLAPSE! THE ACTUAL PRICE SHOULD BE RS.71/LITRE! YOU COULD DO SIMILAR CALCULATIONS FOR YOUR CITY TO FIND WHETHER GOVT IS SUBSIDISING CONSUMER OR CONSUMER SUBSIDIZING GOVT.
RE:appropriate report card
by hanif mohammed on Jun 12, 2008 03:30 PM Permalink
Hello Mr Kabir - the crude oil price cannot be equated with refined petroleum products. For USD 130 you get to buy a barrel of crude oil, which has to shipped to a refinery, and converted to various petroleum products, and thereafter transported to different parts of the country. The killer is taxes imposed by centre and state governments !! The tax should be fixed on quantity, rather than on esclating price.
RE:appropriate report card
by Kabir on Jun 13, 2008 02:28 PM Permalink
Hi Hanif, That is what my point is..if you have read it carefully "India is self sufficient in processing crude oil and 90% of the processed petrol cost is that of crude oil" so only 10% is the processing other cost...still fuel prices are so high in India...one should think about GOVT's CLAIM TO HAVE SUBSIDIZED PEOPLE after having charged huge amount as tax on fuel.
""are you getting an assured supply of electricity, without wild fluctuations? Do you get clean water around the clock? Have the potholes in the roads in your town been filled up? Does anyone believe that the local government schools or the primary health centres are functioning adequately? ""
All these were functioning perfectly and working fine during the Vajpayee ministry. That's why they described INDIA as SHINING ! If elected to power, BJP Govt will surely offer you Bharat Ratna, TVR...Keep trying.
Agreed that, Govt is answerable to the rising inflation and price hike. But claiming that, all was great and nice before is really funny !
The Left's hidden agenda: 5 years back, India was behind China by 8-10 years in most fields. But today India is behind China by 15-20 years at least!!!
Who is responsible for this? No prizes for guessing : THE LEFT !!
The loyalty of the Left parties has always been to China and not India. This is well- demonstrated by the fact that they never criticised China for the Indo-China war of 60's. In fact they hold that Indians were the agressors!!
Kangres and Lefties are the worst enemies of the country. They will go to any extent to stay in power. Left parties and UPA have failed on each and every count :
1.Economy : NDA governement laid the foundation for high GDP growth through liberal economic reforms 2. Disinvestment : Arun Shourie did a great job in doing disinvestment and brought 1000's of crores for development. In UPA's rule thanks to headless chicken, it has come to standstill. 3. Agriculture : During NDA's rule, India had food security. There were not enough godowns to store excess food grains. In UPA , our agri minister Sharad Pawar is busy with IPL when people are dying bcoz of food shortage and high prices. Foreign policy : It was during NDA's rule that India broke from it's isolationist foreign policy and became close to US (without antogonizing any other world power). It was partly becoz of the progress done then that US even offered nuke deal. Under UPA rule, India has will loose face in front of the world for backing out of nuke deal. ................. The list goes on and on and on. This MMS is a useless, spineless PM. I used to like him as FM in 90's, now no longer. He is a stooge.
RE:This MMS is a useless, spineless PM. I used to like him as FM in 90's, now no longer. He is a stooge.
by Jai Max on Jun 10, 2008 08:22 AM Permalink
Are we discussing oil crisis or doing election propaganda? It is because of people like you and Mr Shenoy who cannot address economic issues without political bitching, this country is failing on most friends. Economic compulsions have no political colors. All stupid politicians and their 'Chamchas' are equally responsible for the problems we face in this country
RE:RE:This MMS is a useless, spineless PM. I used to like him as FM in 90's, now no longer. He is a stooge.
by Jai Max on Jun 10, 2008 08:24 AM Permalink
Corrected version: re we discussing oil crisis or doing election propaganda? It is because of people like you and Mr Shenoy who cannot address economic issues without political bitching, this country is failing on most fronts. Economic compulsions have no political color. All stupid politicians and their 'Chamchas' are equally responsible for the problems we face in this country. (come on rediff! Introduce preview before submission facilty)
RE:This MMS is a useless, spineless PM. I used to like him as FM in 90's, now no longer. He is a stooge.
by rajendra K on Jun 12, 2008 01:13 AM Permalink
Where is the money that we got from selling the PSU? How much was it? Did we enjoy all that money for last eight years?
So you think rise in the international prices of food items has nothing to do with the inflation of India??? Talk about misinformed analysts or even worse, analysts with a hidden agenda.You belong to the second category, shenoy where you know why the prices are rising but still want to accuse the duo of Dr MMS and PC of doing nothing. Just because you dont SEE development doesn't mean others dont. You might be as well aware of nuclear deal for electricity is thrawted by your party BJP.If BJP was a bit responsible, we Indians would be getting electricity in a few years time. Now will it be fair to say that because of the short sightedness of BJP ilk, we would not be getting electricity. and finally what do you want the govt to do???? raise the prices of petrol and diesel to the international price ( that would be AROUND 100 RUPEES per litre)...Is that what your BJP brains want to do.. And you might as well remember when the BJP left office in 2004, the inflation was 8.9%....Any arguments, boy???
RE:You are a real twat, Mr. shenoy
by Lost Indian on Jun 09, 2008 03:20 PM Permalink
Dear Sivaprasad, Nuke Deal and Crude Oil Price rise are two diffrent topics of discussion please dont combine them. Look at the milk price rise for the last 3 years from Rs. 22 it has come to Rs. 30. Has the cow started eating anything else not sure. Similarly look at the steel and cement prices everything is manupulated the FM and PM are only talking of Stern actions but when not sure. This goverment has itseld helped the companies to form a cartel and giving any false reasons they are finding a way thru. The Indo US nuke deal would not have generate energy for commercial distribution for the next 10 years because Nuclear installation is not like starting any other construction building lot of factors are to be considered. Have a look on NTC website there you will find that the govt does not even have site locations identified for new projects. Its people like you who think that the national security can be compromised so that a recession economy of US can be supported. Why does not the govt of india decide on the Iran pipeline, govt could have been present in the discussion demanding their requirements if Iran and pakistan would have backed out the Indian govt too had a chance to back out, but we kept mum due to US pressure. We dont need a Congress Govt who has no self respect and are ready to sell the country. People like you curse the BJP govt but look what Narendra Modi has acheived in Gujrat, the developments are enormus. Just dont follow Gandhi family blind
RE:You are a real twat, Mr. shenoy
by Jai Max on Jun 10, 2008 08:34 AM Permalink
The price of Milk is about Rs 60 per liter. Out of this Rs 40 should go to the actual milk producer. It is unfortunate urban consumers pay to Arab oil producers a price which is at least 30 times its actual cost of production, but would like to have Indian farmer sell milk and other products to the urbanites at less than one third of the actual cost of production. All urbanites are real parasites on the economy
RE:RE:You are a real twat, Mr. shenoy
by Jai Max on Jun 10, 2008 08:35 AM Permalink
Corrected Version: The price of Milk should be about Rs 60 per liter. Out of this Rs 40 should go to the actual milk producer. It is unfortunate urban consumers pay to Arab oil producers a price which is at least 30 times its actual cost of production, but would like to have Indian farmer sell milk and other products to the urbanites at less than one third of the actual cost of production. All urbanites are real parasites on the economy
Hi, can any one explain how oil companies loose money, if they really lost money, they will definitely close the company instead of continuing these many years. I think they are not loosing money but they are not gaining as much as other country oil companies are gaining, please clarify
RE:how oil companies loose money? please clarify
by Seenu Subbu on Jun 10, 2008 01:25 AM Permalink
Subsidies. Actual cost per liter of oil should be about Rs.100 while the Govt subsidizes diesel and petrol prices. Public sector oil companies absorb these subsidies and write them off with their losses. You, the tax payer, lose again. Sardar, and his Gori Masterini, pilfer and win.
