June 05, 2008

As Long As There Are Left Parties in Power in India Prices of Crude Oil Can Never Fall

Left parties ( Communists ) are busy organising protests / Bandhs against the recent hike in Petrol/diesal prices . Nothing could be more farcical and ironical . After ,merrily , creating circumstances which have led to a world wide energy crisis Left is , now , trying to make political capital out of it . They want to eat their cake and have it too.

India is a fast growing economy . India does not have adequate fossil fuels ( Crude oil , Coal etc. )
To power India's growth engine the Nuclear Deal of President Bush was most timely so that India did not become over dependent on crude oil imports . But Left parties sabotaged the Nuclear Deal . By , now , many Atomic Power stations have been in advanced stage of completion . This would have , surely , checked speculative activity in crude oil in which high prices are primarily based on anticipated demand from growing economies like India . Left is part of the present Govt. but it never loses an oppotunity to criticise it .

There is a saying in the World Bullion Markets that as long as there are monsoons and marriages in India, the price of gold can never fall .

We can , now , also say that as long as there are Left parties in power in ndia , prices of crude oil will never fall .

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