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Rising crude may lead to fuel price hike: Deora

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    • Agencies Tags : Petroleum Minister, Murli Deora, crude oil prices, fuel price hike Posted: Monday , Jun 15, 2009 at 1627 hrs
    Oil prices
    Crude prices, which fell to the low of $30 late last year, have been buoyed recently by hopes of economic and demand recovery.

    Till last fiscal, the revenue loss was divided among all three stakeholders -- consumers, oil companies and Government -- equally by way of a small price increase, oil bonds and upstream assistance.

    "We must urgently find solutions," he said indicating the Finance Minister may address the issue in the Budget he will present in Parliament on July 6.

    "This is an issue he may decide at the time of Budget," he said. "We have to find avenues."

    Deora, however, refused to commit to a time-frame for deciding on the issue. He also did not say if deregulation of petrol and diesel prices was on table. "I cannot say anything on this."

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    WHY PASS THIS ONTO MIDDLE CLASS AND BELOWBy: Pradeep Sharma | 16-Jun-2009 Reply | Forward Dear Readers, My plea to the powers that be is simple.Why charge the same price to all users?Imagine the impact on a two wheeler rider and comare the affordabilty with those who ride in MERCS or BMWs etc.Raise the cost of luxury cars/vehicles to the sky and do away with the subsidy so that the poor middle class guy cn still afford to drive his hard earned vehicle!Must improve public trans portation and make it so good that the average individual prefers to use it rather than his/her own vehicle.
    Oil is the only fuel--? why not tap the other energy sourcesBy: T.Arulmony | 16-Jun-2009 Reply | Forward While we think of oil price and subsidy, we are not considering the available renewable energy like wind, waves etc. For vehicles we may go for oil. And other purpose the renewable energy sources need to be tapped. Maximum subsidy and support service facilities with research in renewable energy gadgets may help the nation. Oil is the only fuel we to concentrate and worry about? Other sources of energy must be considered and due attention must be paid. Petroleum ministry may be merged with Ministry for Energy. The import of oil bankrupts our economy and creates lot of problems. Let us try to tap the un tapped resources through appropriate gadgets
    Geophysicist/Mining GeologistBy: Ganesh C. Bhuyan | 16-Jun-2009 Reply | Forward India has a black market law. It can easily apply to "Aloowalla" or "Dalwalla" However, it is out of bound for NYMEX oil spot prices. Oil Price was $1.00/bbl around 1961-63: It went up to $12/bbl to $18/bbl during 1973-2000. It stayed around this with a drop to $12/bbl during 1999: It was around 422/bbl in 2000. Based on this oil price should be around $30/bbl-$32/bbl in 2009/2010. It was $32/bbl in March of 2009 when the speculators were out of the oil market. Indian Goverment should have a good number(true cost number) for all puplic and private compamy what it costing them to produce a barrel of oil. One can add expected profit to this TRUE COST(TotalCost)per barrel
    Jack up the PricesBy: Kannan | 16-Jun-2009 Reply | Forward India doesn't have enough space for big wide highways like USA/Canada. Population density of Canada is way low and so everyone needs to own a car. India has very high population density and if Indian road traffic increases our narrow roads cannot handle the traffic. India should spend more money to develop faster and more comfortable public transportation. Lot of Underground/metro/over the bridge rail lines need to be developed in cities. Trucks should only be used only where railway transportation is not possible. Government should help merchandise move at a low cost to keep prices under control. Rich people who can offer to keep a car should pay Rs 100/Litre or more. You save the environment and bring revenue to country for infrastructure development!! India cannot control the oil price but they can prepare now to face the future!!
    Dear Mr Head clerk of IndiaBy: sadaadmi | 15-Jun-2009 Reply | Forward Dear Mr Head Clerk of India ( yes ,I meant PMPosted by sadaadmiJune 1, 2009 The Aam admi has elected Congress and you have become Prime Minister Of India. I wish and request that you convert yourself as real PM instead of acting like a Head clerk, for the sake of the country and for the sake of “foolish Aam admi” who has voted for you. Along with your Cashier Chidambaram and commercial Assistant Montek You have completely forgotten the Aam admi, to whom you lie (Promise!) during election time that every family will get Kentucky fried chicken twice a day, 2 pairs of Raymond suits and one 2 Bed room flat . Your Cashier Chidambaram had 17000 crore for paying sixth pay commission Benefits to your “Govt Babus”. But you do not have money to Construct Super specialist Hospitals in every District or at least one every 2 district. You do not bother much as you got your Eyes and Hearts operated at AIIMS free of cost. Both as a retired Govt servant as well as PM these facilities are free to you and are paid from the tax money Indian citizen pays mainly for improvement of poor. Every one is praising ‘you three’ as the Great Economists. But I wonder the team which saw to it that Power cut existed from Kashmir to Kanyakumari except Gujarat, Chhattisgarh can hardly be called intelligent! While thermal power could be improved upon by implementing the projects which can be 95 % efficient you created a opinion that Nuclear power is the only solution. We hardly produce 3 % of the existing power output. Even the less educated would say that power is the backbone for Development and Employment Generation
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