I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
Joined: Oct 04, 2004 Posts: 2500 Location: Ye Olde Englande
Posted: Thu Jul 03, 2008 6:45 pm Post subject: Fuel strike in India
This could get interesting.
Transporters strike leads to empty wholesale markets
Quote:
Panic has already gripped the Agriculture Produce Marketing Committee (APMC) at Vashi as transporters, comprising over 8 lakh trucks and trailers, who went on strike since Wednesday night. Wholesale merchants are a worried lot as the stir will badly affect the supply of perishable items like vegetables especially potatoes, chilli, ginger, cauliflower, carrot, green peas, yam, and along with wheat, pulses, and edible oil as these items are imported from states like UP, MP, Gujarat, and Rajasthan
In Response to the indefinite strike call of the All India Motor Transport Congress to protest against the recent hike in fuel prices, truck drivers stopped ferrying goods and kept off the roads on Wednesday.
Ludhiana, though, witnessed a mixed response with the lighter vehicles like TATA 304 and others plying.
The day saw hectic lobbying all around the city with truckers busy in closed-door meetings to chalk out further plan of actions. The situation, however, remained peaceful over all. Local transporters, led by Ludhiana Goods Transport Association, held a meeting at Transport Nagar.
Link _________________ "The age of excess is over. The age of entropy has begun"
Posted: Thu Jul 03, 2008 6:59 pm Post subject: Re: Fuel strike in India
This, indeed, is very dangerous.
Millions have already taken to the streets, last month, instigated by the CPI-M.
The truckers' strike now has a chance of ending violently, because food supplies are threatened. If the government doesn't re-subsidise fuels and cuts road toll taxes, then the truckers will fight on and the country would face a food crisis. One scenario then is that the army will be called in to distribute food or that it will force the truckers to resume work. And I don't want to be around when that happens.
Very dangerous situation.
If the Indian government does answer the truckers' demands, it is going to lose a huge load of cash, and consumers will be forced to pay it one way or another. And I don't want to be around when that happens either. _________________ The Beginning is Near!
NEW DELHI: The three-day-old truckers' strike has been called off following an agreement between the transporters and the government after marathon negotiations that lasted for about ten hours. _________________ Got Dharma?
NEW DELHI: The three-day-old truckers' strike has been called off following an agreement between the transporters and the government after marathon negotiations that lasted for about ten hours.
Yea, and it will pop up again a few weeks from now. For sure.
There's no stopping the beast of increasing oil prices. _________________ The Beginning is Near!
Posted: Fri Jul 04, 2008 9:37 am Post subject: Re: Fuel strike in India
Based on this India story from ealier this week it will be interesting to see how the gov't/economy can respond the the angry folks:
(sorry...lost the link but saved the story)
Just six months ago, India was looking good. Annual growth was 9%, corporate profits were surging 20%, the stock market had risen 50% in 2007, consumer demand was huge, local companies were making ambitious international acquisitions, and foreign investment was growing. Nothing, it seemed, could stop the forward march of this Asian nation.
But stop it has. In the past month, India has joined the list of the wounded. The country is reeling from 11.4% inflation, large government deficits, and rising interest rates. Foreign investment is fleeing, the rupee is falling, and the stock market is down over 40% from the year's highs. Most economic forecasts expect growth to slow to 7%—a big drop for a country that needs to accelerate growth, not reduce it. "India has gone from hero to zero in six months," says Andrew Holland, head of proprietary trading at Merrill Lynch India (MER) in Mumbai. Many in India worry that the country's hard-earned investment-grade rating will soon be lost and that the gilded growth story has come to an end.
Posted: Fri Jul 04, 2008 10:09 am Post subject: Re: Fuel strike in India
The scary part is the need for diesel. Diesel means water in many of Indias states. The farms are reliant on ground water for there irrigation, that ground water is pumped up with diesel pumps.
The government in New Dehli will not need to be remined of this, but even subsidising diesel may not have the effect wanted, if it is more profitable for a famer to sell his diesel and buy food with the money rather than risk growing it.
This is all very very early in the crisis so Im sure the Indian government will have enough money to keep the pumps running, but its well worth pointing out, this is the treadmill we are all on.
Ofcourse there could be a national emergency program to go to coal\ steam pumps, if there is enough time...........
Posted: Fri Jul 04, 2008 10:21 am Post subject: Re: Fuel strike in India
All so true dorlomin.
One obvious difference is the access to those perceived as the cause of so much heart ache. Folks here can get mad at Big Oil but you won’t see our angry villagers pulling those execs from their cars and beating them to death. If the India stories are accurate we’re seeing different segments of their society focusing on each other as the “”enemy”. It would be great to have some posters from that part of the world to confirm whether or not the press is hyping the potential of street level conflict.
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