There is no use of crying about PM Mammohan Singh & UPA's intertest in signing the treaty.Actually the talks for a nuclear treaty between US and India had started immediately after Pokhran II but in a different name. Now Indian Government has no other options other than signing it & the main reason for signing it may not be energy crisis as highlighted. It is the persuasion from the side of US by various means. You can very well see the petrol prices started escalating only after Pokhran II. For all third world countries including India,US is the middle agent for supplying petrol & petroleum products. No OPEC countries are ready to supply oil directly to India,so we have to buy oil from US only of which the price is decided by them,Since we are importing 70% of our oil requirement we have no options left. Although the OPEC countries are producing and more oil than the market demand the price is on the rise,only because of US and the artificial scarcity generated by them. If UPA government dont sign IAEA the oil price will again increase and the govt will come down because of that.Either way Congress is left with one option dont sign- the govt will fall because of oil price ,Sign- the govt will fall because of left withdrawing the support. If UPA or the previous NDA govt had signed the treaty earlier then the petrol prices would not have rose this high.The petrol proce hike is nothing but the American method of persuasion,Even the NDA governmwent would have survived i
RE:Indo-US Neuclear treaty & petrol price hike
by Pradeep Kumar R on Jul 14, 2008 12:31 PM Permalink
Who told you that OPEC countries are not selling oil to India directly. These are all your imaginations... and India is getting the oil from most of the OPEC countries and in a better rate than many other countries... The daily prices are available in NYMEX and various commodity exchanges and you can also buy oil from any trading platforms...
The Nuclear deal is nothing to do with the petrol prices. Most of our neighbouring countries inclding China, Singapore, Malaysia and Indonesia have already raised the fuel prices in the range of 30 to 50 %.
