Who is to blame…?

The economics of the poor

World over, prices of oil are rising like never before and most of the economists and energy trades call is a pure speculation. Some people blame OPEC for not meeting the world oil demands where as other blame the developing countries like India and China for create a demand-supply imbalance. But back home, in India, the issue has several facets. For a country like India, which imports 90% of its oil requirement, the imbalances in the world oil market are something that needs to be looked into very seriously. But given the fact that the regulations and business structure of the oil industry in India is so complicated, the need for looking into international oil imbalances seems a lesser priority to me.

One most important thing that we need to look into first is myopic vision and negligence on part of Government as well as the oil companies…

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