What , His Honesty, Sir Sri Kejriwal Forgot To ..
Public sector companies like ONGC, account for two-thirds of all gasoline production. Reliance accounts for roughly one-fifth of ONGC’s share (barely 10 per cent) of total gas manufacturing. See here –
Welcome to Ministry of Petroleum&Natural Gasoline . It is viciously wicked to say pricing is out to profit Reliance when the most important beneficiaries are GOVT. firms ( No sir, no I’m not saying that Ambani isn’t a vily insatiable fox ).
– Value change was really helpful by C. Rangarajan and his six member panel, appointed by the previous petroleum minister, Jaipal Reddy, who was strongly anti-Reliance petroleum refining water 50 and opposed gas value hike. To assert that a committee appointed by Jaipal was actually tailored to assist Ambani is unbelievable.(Please be aware Jaipal Reddy has Sir’s ISO-9000 pure Arvind Kejriwal honesty certificate )
– Ex-RBI guv Dr C. Rangarajan’s additionally president of Indian Statistical Institute. His system decided fuel pricing. Does he know his stuff or not
– I believe this “Everybody’s a thief” thing must be applied to Dr. Rangarajan too. And file FIR against him. (Game Mr. Kejriwal )
– Two GOVT. OWNED companies ONGC and GSPC have also discovered offshore fuel. The ONGC has repeatedly demanded no less than $ 7/unit to make production Financial. GSPC has requested for as a lot as $thirteen-14 /unit. ( Let us assume these are corrupt corporations, and brokers of Ambani going by the requirements set by Sir Sri AK ).
– India is presently importing enormous amounts at $12-14 /unit. The government has signed an agreement to import fuel from Turkmenistan, using a value method that is predicted to cross $12/unit. Cabinet clears signing of pact for getting fuel from Turkmenistan
We import 80 % of our crude oil, and around 40-50 % of our gas. The oil and fuel imports are the main purpose causing a fiscal and current account deficit which has pushed the rupee down and made fuel and fertiliser much more costlier than they ought to be. Constantly mistaken vitality pricing is the single most essential reason for the UPA government’s fiscal bankruptcy – and the resultant two-yr slowdown that exhibits no signs of reversing.
– Many energy stations in India are closed for want of gas. India’s gas imports have shot up to Rs 28,000 crore.( at present importing big quantities at $12-14 /unit). The International Energy Association estimates that India’s gasoline imports will rise 72 per cent by 2017.
Web page on petroleum.nic.in
– I saw the program Truth Vs Hype about gasoline pricing and heard AAP’s argument. It was talked about in the program that greatest markets to match gas costs can be north American one and the common costs of natural gasoline would be around $ 4 per mmbtu. I checked the web site of US Energy Data Administration – U.S. Power Info Administration (EIA) about the same . To my shock I discovered the gasoline prices fairly unstable relying on market stress, weather , demand and speculation, various between four-8 dollars even within this week. The prices are market driven , and risky like share prices. It may be as low as 3.5 dollars or as high as 21 dollars as per info in the identical webpage. AAP completely ignores these facts and gave gasoline pricing a political color with extreme left leaning tone crucifying RIL , and really subtly cast aspersions on different players within the controversy , which I really feel could be very unfair. (Alas ! I simply lost my AAM AADMI standing )
– It’s not as if that Mota Bhai CHOR Reliance was handed a nicely the place it might just put a pump and sell the gas popping out. It needed to discover, lose cash, invest, create the infrastructure, after which get the gas out. It has taken all of 9 years to date.( Will it not be honest to account for the costs of oil exploration, and all of the associated investments in manufacturing platforms, undersea installations, pipelines and many others. )
– As per the contract, once prices are recovered, eighty five p.c of the profits earned go to the government – and this is OVER and ABOVE the royalties paid. So, some individuals might argue the higher the value fixed for Reliance gas, the faster the profit turnaround the place the government itself begins getting 85 percent of its profit fuel. (One sided contract, eh ! ! )
– petroleum refining water 50 Last but not the least, on the time of bidding for the oil and fuel blocks, the government promised market-based mostly pricing for all winning bidders. This promise has nonetheless not been fulfilled as we have now gotten into managed pricing. So India’s name is foiled irrepairably, and top exploration corporations now keep away from India. (Na Khata Na Bahi, Jo Kejriwal kahe wohi Sahin ).