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Will growing political uncertainity in the Middle-east and Libya profound implications in fuel oil costs in our economy

Created by : JAYANTA KUMAR BORAH, B.Tech/B.E GRADUATE, Annamalai university  | 03 24 2011 11:23:08 +0000
Keywords : will growing political uncertainity in the middle-east and libya profound implications in fuel oil costs in our economy
Activity:  347 views;  last activity : 01 07 2012 08:54:08 +0000
 
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Definitely it will.. We can not help it Jayanta..
By Padmaja Baskar, Product Development Manager, ONGC  03 25 2011 09:55:13 +0000
 
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Yes it will. but more than that are the taxes that we pay.
By Syed Shakeel Ahmed, Electrical Design Engineer, Saudi bin Ladin Group, PCMC  | 01 07 2012 08:54:07 +0000
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Yes definitely it will have the impact on our economy since we depend on oil sources from those countries. Moreover it paves the way for employment problems for Indians and the inflow of cash will also be affected. Thanks Ms.Smita for the referral.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 03 28 2011 18:30:22 +0000
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Yes, by all means.

I support your views, Padmaja & thanks for referral.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 03 28 2011 17:09:33 +0000
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Smita I support you and today only in the subject i have mentioned the same.
By Rathin Deb, Freelance Retail Consultant  | 03 28 2011 07:45:12 +0000
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I agree with Padmaja, and as we follw the developments we can deduce that whatever happening is not for the Godd of India
By sheriff r mohideen, General Manager -Technical, Origin Foods Limited  | 03 28 2011 07:03:45 +0000
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Smita I support you and today only in the subject i have mentioned the same.
By Rathin Deb, Freelance Retail Consultant  | 03 28 2011 06:42:37 +0000
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we haven't forget that iraq war till now. and again as Libya also plays an important role for the supply of crude oil which is 1.8 million barrel per day. definately such collapse of supply will disturb the economy!!
By Rohit Thakur, Electrical Engineer-Industrial, Quality Engineering and Software Technologies  | 03 27 2011 10:19:53 +0000
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The Government might absorb the losses, but you must remember that the Consolidated Fund of India and the Contingency fund of India or those of any state  is not owned by the father of any Politician or any Minister.These funds are mine, yours and of the People of India/or of the state. Every loss incurred  shall burn a hole in your pocket , mine and of course the common man. If the Government has accepted losses, those losses have to be covered up by you, me and everybody. Ultimately you, me and people have to work hard and suffer to make up this loss. Round and way it comes back to you and me.
By Amarendra Gogoi, Law, Law  | 03 27 2011 09:34:27 +0000
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Yes,M'm,there is no doubt.
By Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer  | 03 26 2011 04:00:55 +0000
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India is highly dependent on oil supplies managed by OPEC nad Libya is a member of OPEC.
By Sanjay Bhardwaj, Partner/Principal/VP, Health Management Solution  | 03 26 2011 01:43:41 +0000
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Gulf is the main source for Petroleum for all countries (almost) and petroleum is main source for other by products like LPG, Lubricants, Wax, Kerosene, Diesel etc. If this type of uncertainty (war) continues in the gulf than it is sure that in upcoming years all the population of the world going to face the hiked oil prices. It hampers most to developing countries likes us, as we know prices of almost all the product directly effected by prices of oil and gas. So it will going to effect our economy as well.
By Sanjay Kumar, Territory Manager- Delhi / NCR  | 03 25 2011 15:51:49 +0000
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Yes it will. There will be variation seen in prices.
By Jasmin Pawar, HR Manager, HR GLOBE CONSULTING  | 03 25 2011 12:31:15 +0000
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As seen from the stand taken by me earlier, Padmaja's opinion seems to be in line with mine. Hence without any further deviation, Padmaja's view shall also stand supported.
By Amarendra Gogoi, Law, Law  | 03 25 2011 11:25:03 +0000
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It seems cost of all petroleum product will increase at least by 15% in India in coming months
By anurag reja, Head/VP/GM-Insurance Operations, Bennett, Coleman & Company Limited  | 03 25 2011 11:13:20 +0000
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Smita stands supported. I have already got a lashing example, as to the cancellation of a project in my case due to that "Sheikh- Sheikh" fight.. Like it or not, political hullabaloo will lead to an "Oil-Petroleum" and "mine and yours fight". Worst Sufferer would be the person who eats the " Vada Pav" along with the "Salted Mirchi" on the street. Nevertheless being the Indian version of the Burger, the commin man shall end up only to get intense heat in his tongue ,not because of the chilli, but because of the price rise in the Vada Pav, only when the Street Burger waala tells him about it as soon as he puts it in his mouth. To sum it up, rise in oil and petroleum prices hits even a common man on the Road, then why not a nation. In any case, Smita would unequivocally stand supported. I am unable to view her argument. Should my comment be in any way inconsistent with hers, my comment shall stand rubbished and hers glorified. Hence Smita stands supported.
By Amarendra Gogoi, Law, Law  | 03 25 2011 11:03:28 +0000
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Sure .Middle east is our main foreign exchange earner and many of our country men will return jobless . it will have effect on us.Moreover even the present regimes are bad and non democratic , they are keeping the militancy in check .
By sheriff r mohideen, General Manager -Technical, Origin Foods Limited  | 03 25 2011 10:29:19 +0000
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Yes! US and its allies are attacking Libya mainly for its oil resources. Libya has a formidable oil resources and the major exporter of the same.
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 03 25 2011 10:24:24 +0000
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YES..so its imperative for the government to keep some headroom in policy to address the issues.
By JAYANTA KUMAR BORAH, B.Tech/B.E GRADUATE, Annamalai university  | 03 24 2011 11:23:08 +0000
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Further to my all previous post. Today again report is published in TOI

http://timesofindia.indiatimes.com/business/india-business/Oil-cos-may-raise-petrol-prices-by-Rs-3/articleshow/8085534.cms

This report clearly indicates the Petrol prices will increase after assembly poll. So this is accoring to my first point of first post.

Now the goverment is thinking about only to increase the petrol prices inspite of having high losses on Diesel too. This is due to effect of inflation. Which is mentioned as second point in my first post.

We must understand the thinking of Goverment and their acting on policy decision.

 

 
By Praveen varma, Sr Manager, Reliance Industries  | 04 26 2011 19:12:54 +0000
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Although all the people were thinking that the fuel oil cost will increase in our country whereas I have mentioned three point for justifying - "WHY THE FUEL OIL COST WILL NOT INCREASE".

Now today the report published in TOI, which says the fuel oil cost may increase after assembly elections (my first point). Here is the link:

http://timesofindia.indiatimes.com/business/india-business/Oil-prices-likely-to-go-up-after-assembly-elections/articleshow/7986507.cms

The point 2 and 3 are remained to be tested out, let us wait and watch.
By Praveen varma, Sr Manager, Reliance Industries  | 04 15 2011 04:29:02 +0000
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no doubt it will have some impact on developing countries and not the whole world as a whole.
By sudhakar , BUSINESS CONSULTANT  | 03 27 2011 06:49:47 +0000
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Over and above my argument on captioned subject and comments, I think the crude oil dominance will end in next 5 years. SURPRISING BUT IT IS TRUE.

If you are interested in technical stuff of new coming technology please read the details at

http://www.overunity.com/index.php?topic=9720

And look for ISAMEL AVISO video on youtube.com

I am in touch with him and constantly following his work / development.

Have a nice reading and watching.
By Praveen varma, Sr Manager, Reliance Industries  | 03 26 2011 04:04:35 +0000
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Oh... There are all YES.

But to my mind there wont be major change in retail price of petroleum product i.e. Petrol / Diesel. This is mainly due to following:

1. Coming assembly elections in various states.

2. Goverment inability to control the food inflation.

3. Govt is already under termendous pressure on various corruption charges.

In view of above points the Goverment will prefer to absorb the losses instead increasing the prices.
By Praveen varma, Sr Manager, Reliance Industries  | 03 25 2011 11:57:18 +0000
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