Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Big hike in petrol prices under study
Despite political setbacks for the Congress leaving little room for a hike in motor fuel prices, the Petroleum Ministry is toying with the proposal for a "massive hike in petrol' prices to bring them on a par with the market rates. Diesel, LPG and kerosene, however, will be left untouched. The deregulation of petrol could see its price jumping by Rs.15 to Rs.16 a litre.
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Asian fuel price rises unlikely to spark unrest
Leaders across Asia are starting to give in on the prickly issue of fuel subsidies, hiking prices in the face of $130 a barrel oil, but careful calibration of the steps may allow them to get away with it. Indonesia jacked up fuel prices by an average of 28.7 percent from Saturday, Sri Lanka followed with its own increase on Sunday and Bangladesh said it planned an increase soon. India is also considering such a move. The odd man out is China, which has strong finances and has said it does not plan to raise prices soon.
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No soft options to stem the barrelling oil crisis
The same old "package' of reduction in taxes and duties, issuance of oil bonds and higher subsidy sharing by the upstream oil companies will not work this time around. Only increasing the retail prices of petroleum products will. Will the Government go the extra mile? Raghuvir Srinivasan Advertisement
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Greenland Summit To Discuss Carve-Up Of Arctic
Officials from five Arctic coastal countries will meet in Greenland this week to discuss how to carve up the Arctic Ocean, which could hold up to one-quarter of the world's undiscovered oil and gas reserves. Canada, Denmark, Norway, Russia and the United States are squabbling over much of the Arctic seabed and Denmark has called them together for talks in its self-governing province to avert a free-for-all for the region's resources.
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Inflation a global phenomenon'
Sivaganga: Union finance minister P Chidamabaram on Sunday said that inflation was a global phenomenon, resulting from rising crude oil prices. Speaking to reporters, he said India was a major importer of crude oil and 75% of the nation's demand of crude oil was met from imports.
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Time to rejig oil pricing policy
As the country battles with the fallout of rising crude, it is time for the policy makers to relook at the faulty pricing policy of petroleum products. More often than not, the blame of high crude prices is laid on the taxes - customs duty, sales tax and excise duties etc. The rationale for cutting taxes is definitely there, but when we talk about crude rising by nearly 50 to 60 per cent from the present levels, a harder look has to be given to the way the oil companies are paid for the production of petrol, diesel, LPG and kerosene.
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US Greens Wary Of Ecological Cost Of Record Oil
US environmental advocates are nervous that record crude oil prices will lead to a boom in production of fossil fuels like motor fuel from coal, Canada's tar sands, or shale in Colorado that would emit more planet-warming gases than conventional oil. "High oil prices are a double-edged sword," said Deron Lovaas, an automobile expert at green group the Natural Resources Defence Council.
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The Unexpected Winners In The Oil And Food Crunch
High oil and food prices are a double blow no nation can dodge entirely. Even oil states like Iran are seeing food-price protests. But there's a small class of farm-and-gas exporters for whom the dual spike is more opportunity than threat. Canada, Brazil, Vietnam and Thailand are all enjoying the windfalls, and even war-tattered Cambodia is now reimagining its future.
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Petrol, diesel prices marginally up
Petrol and diesel prices have marginally increased from Friday midnight consequent to a corresponding hike in the commission for petroleum dealers by the Union Ministry of Petroleum and Natural Gas. Revision In the city, the increase of three paise on petrol, taking the retail price of a litre of the fuel to Rs.49.64 and four paise on diesel, resulting in the price going up to Rs.34.44, however, has not cheered the dealers. They complained that the quantum of the upward revision of commission fell short of their expectations. Protest
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Prices of diesel, kerosene up in Barisal
The prices of diesel and kerosene have registered a sudden increase in Barisal over the couple of days reportedly due to artificial supply shortage created by a section of traders. Local said diesel and kerosene prices had increased in the city by Tk 7.00 to 10.00 per litre. Oil depot sources said they had supplied kerosene at Tk 7, 842 per barrel and diesel at Tk 7, 762 per barrel to the dealers. The dealers have been directed to sell those at Tk 8,000 per barrel in the wholesale markets.