According to me no one is gaining from the Oil Economics in India neither Indian Government nor the Indian Companies. I read somewhere that Indian oil companies are loosing two hundred crore rupees a day only because of wrong moves by the government of India. First of all we could never understand how much bad the game would be. Indian Governments never tried to take any strong long term measures and lacked good economists to understand the real problem and to pull out solutions. Now the 'AAM ADMI' as well as the Indian Companies have to suffer and government can never bring any Welfare. It is completely senseless to claim that the Oil price hike in global market is altogether responsible and government of India could not do anything. Had we taken some fast and good steps with war time urgency to ensure supply of oil to ourself to the sufficient extent and with lesser dependance on imports, the things could have been different. All Indian Political Parties are just politicizing the issue of Oil Price hike. is anyone going to think of Economics?
I totally agree that we lack good economists who can carve good policies for our nation. We need more learned and active economists who can well differentiate between what is suited for our nation and what is not. Most of our economists copy paste the policies from other nations without giving a thought if it would hold good for our nation. We have our own oil reserves too and i think we should try to use better technology to use our reserves optimally.
