The investment money in the oil market is only a fraction of total oil trade in the world. Hence curtailing this would not be of great use. One should not be using this as an excuse for a surge in demand. The only way the prices can be curtailed in the so called free market economies should be the demand. All the consumers should look to curtail the demand. One of the solution presented makes sense which is not to regulate the price of petrol. This step alone with save the exchequer about 20,000 crore rupees annually. Yes for now the price of diesel should be controlled so that it does not effect inflation. But measures should be put in place to ensure that the we slowly reduce the subsidies provided for diesel as well. I can list only a few points here and it would be best left for the experts to determine which one should be used. Develop infrasture of railways to transport the goods Use alternative energy sources techology developed around the world (e.g. Brazil). Use better technolgies (e.g. Canada, Norway) to explore the oil reserves and become less dependant on imported oil. Nuclear, Geothermal, Wind resources to generate electicity. Adapt better techonology in Coal (India has a good resource of this) to convert it into more usable applications.
