indulges in deceptive word-play (or phrase-play) when he 'informs' us that the international price of crude oil has fluctuated in the past few years very widely FROM 140 USD A BARREL TO 40 USD !!
He knows only too well that most of his listerners will not remember or will not know that the price of crude has fluctuated THE OTHER WAY in the past few years (i.e., FROM 40 USD A BARREL TO 140 USD) !!
Re: Subrata Mandal also
by ANAND TEERTHA on May 25, 2012 09:32 PM
During the BJP regime the crude price were at time 148 Dollar a barrel. However the cost for fuel per litter was 1 Liter = 35 Rupess
On other had the cost for per barrel is 94 dollar under Congress regime. However the cost for 1 litter is 1 liter pertol = 80 Rupess
Re: Re: Subrata Mandal also
by piri on May 25, 2012 09:40 PM
Hello little oaf !
Please do not lie !
Are you really sure that the price of crude oil touched 148 USD a barrel 'during the BJP regime' ????
Really ??
Please check your sources (I am sure you just bluffed without checking) once again to see when the crude price crossed 140 USD a barrel !!
Please also check whether what I say below is true or not :
The price of crude was about 44 USD a barrel when the BJP left power in 2004. During the period 1999 to 2004, the highest that crude climbed to was 49 USD a barrel !
It was in 2007 that the crude climbed to 140 USD a barrel (during the time of UPA I).
It is amazing that the issue of corruption has just not found mention anywhere. If all the available funds are eaten away by those in political power, where would money be available for "development"? Would corruption not increase the deficit? So, if the Govt can control corruption, they can control deficit too. Instead of doing that, the Congress is just getting the aam aadmi to subsides its own inefficiencies and corrupt practices.
The easier solutions to many of the issues reported in this interviews, is to change the Govt.
On one side there is theory of economics and other other side there is elections.
No institute in this world explores the influence of political agenda on the law of economics.
For example: Rice production is surplus to meet domestic demands. But still the cost of rice is higher in open market. WHY?
Law of economics: Supply exceeds demand so price should decrease. Political intervention: Sharad pawar has ordered not to release the rice into the open market till the price hits the roof top at the open market.
how the oil companies have been 'paying dividends' if they are running huge losses.
Then he proceeds to (perhaps inadvertently) give the precise reasons for this phenomenon !!
He has answered his own question by admitting that the up-stream oil companies (ONGC, OIL and GAIL) have been parting with a share of their profits to the OMCs to make good the latter's big losses in part.
He has also admitted later during the interview that the central govt. itself is bearing a big share of the subsidies bill on account of products such as Kerosene, Diesel and LPG.
What he has left out is that the central govt. also has been giving the oil comapanies long term instruments known as 'Oil-Bonds' that are equivalent to govt. security.
These oil-bonds are often traded these days by the OMCs in the financial market (many times at a discount) to raise desperately needed working capital !
So, the huge losses of the three OMCs are made good chiefly from three sources :
1. The up-stream companies bear roughly one-third of the total losses of the OMCs by transferring a very good proportion of their profits (that are huge owing to very high crude prices)
2. The central govt. pays for the under-recoveries (losses) of the OMCs on account of the gigantic subsidies given for PDS Kerosene, Diesel and LPG.
3. To make good the remaining part of the OMCs losses, the central govt. gives them what are known as the 'oil-bonds'.
Re: Subrata Mandal starts off by wondering very loud
by piri on May 25, 2012 06:19 PM
So, in effect, the huge losses of the three OMCs (which last year amounted to around Rs. 1.5 lakh crores) are made good in this fashion !
And then, the three OMCs 'declare' a small profit of a few thousand crores (which, given their huge througput, amounts to just about 1 to 2 % NPM) and give a 'dividend' to the govt. and to the other shareholders !!!
It look as if the people of India are accepting whatever is being given by the Central Govertment to them, Central Government is playing with the people and people are making them play as they want. 70% of the Revenue to government is coming from public by way of Taxes and 70% of the Revenue collected is going in corruption. If they stop this, then there is no need for any price increase and this money can be utilized for giving subsidy to the public, after all this is public money. People of India can live in peace. They say that once during Congress rule, there was slogan from them 'Garibi Hatao' someone killed many poor people, he said instead of 'Garibi Hatao' it should be 'Garib Hatao'. Why it is like this, why government is burdening the poor indians by so-many taxes and burrying we poor Indians, as it is 50% of our body is burried under taxes and inflations. Please spare us.
govt playing game with the petrol prices and they have too as they earn handsome money through this, recently IOC says by loosing around 7 rs on one ltr they loose 72000 caroes per year so dear by charging rs 35/-ltr as taxes you collect 3,00,000 carores per year. my smple farmula is that you choose how much u wanted from the oil sextor say 1,50,000 carores so on rs 35/- which is the basic price for the oil add about 15/- as taxes will come round rs 50 to 52/ ltr for common man, but this simple logic doesnt fit in the minds of so called economist and those big minds of india who deside the faith of indians. whats the logic of charging rs 30/- as taxes and then giving rs 8 as subcidy and shouting as there has been no solution at all, why you want to show the subcidy in the balance sheet just to misslead the public that we r a popular democratic govt. shame on you
is there any connection among petol hike, rupee-dollar position, kick backs and converting the secret foriegn investments of Indian priviliged class into Indian rupee.
