PETROLEUM PRICING Young Turks, beware! You are being misled by AAPs shrill propaganda. The party is indirectly selling multinational oil companies to you. Look for Yashwant Sinha Parliament Standing Committee petroleum pricing in Google. Also Gujarat Govt opposes new petroleum pricing in deshgujarat. One such report: thehindu/news/national/rethink-rangarajan-formula-on-gas-pricing-says-house-panel/article4935805.ece/ The new pricing regime was decided by the C Rangarajan Committee appointed by Jaipal Reddy when he was in the petroleum ministry. The BJP and Left never supported it (The Hindu), but were helpless because petroleum is a Union subject, not a State or Concurrent subject. The ministry is hardly an Ambani ki dukaan. First, Reliance has only supply rights, no production rights. Second, Mukesh Ambanis company has only 10% access to the KG Basin. The remaining 90% is held by state-owned companies. This means the increased MMBTU rate is profiting companies run on our taxes, if it can be called a profit. The ONGC and Gujarat State Petroleum Corporation have also found offshore gas. The ONGC has repeatedly demanded at least $ 7/unit to make production economic. GSPC has asked for as much as $13-14/unit. India is currently importing huge amounts at $12-14/unit. The government has signed an agreement to import gas from Turkmenistan, using a price formula that is expected to cross $12/unit. [swaminomics.org/fir-against-moily-as-absurd-as-one-against-kejriwal/] The rates for some African countries that Arvind Kejriwal spoke of in 2012 and for Bangladesh that he speaks of now are either figments of his imagination or they betray ignorance of actual rates and price calculation methodology. Most important, even if Reliance is arm-twisting the government, the solution could at best be transferring the contract to other INDIAN companies. But the AAP is not demanding that. This means, if the RILs licence is scrapped, we will be dependent on MNCs like Shell and Exxon to supply us with the deficit amount. They will route it from Qatar and certain other countries of the Middle East. Isnt this yet another piece of evidence that the AAP is a part of an international conspiracy to subjugate the Indian system and keep it dependent on the current big players of the world? Interestingly, the AAP had turned Reddy -- the villain of the new oil pricing plot -- into a poster boy when Veerappa Moily replaced him in the oil ministry. But Reddy appears involved in the CWG scam. Only ₹14,000 crore was at Suresh Kalmadis disposal. The rest of the ₹70,000 crore worth scam, which is ₹56,000 crore, looks misappropriated jointly by the Delhi Govt under Sheila Dikshit and the Ministry of Urban Development of the Union Govt which was then headed by Reddy. Kalmadi was made the fall guy by the Congress and IAC* alike. *The AAP was yet to be named in November 2012 when the Cabinet reshuffle took place. During the 2011 Jan Lokpal movement, when Kalmadi (along with A Raja) had turned into the most popular hate figure for anti-corruption crusaders, nobody was talking of a new party to be carved out of IAC. [I expect all politically and economically educated citizens who read this post to SHARE it on their walls and in the groups they are members of.]
Posted on: Mon, 24 Mar 2014 05:09:15 +0000
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