Unethical Pricing Of Petroleum Products In India

Petroleum Fuels marketing is a very big scam in India,after M M Singh became PM,when he allowed Shell India,a Rothschilds Co,in collaboration with Total of France, 100% FDI in LNG marketing,with a terminal,in Hazira Port.

IMF Riots, a term used for THE DICTATORSHIP of the IMF and the World Bank ,resulting in:-

i)DICTATORIAL [UNDEMOCRATIC],DECISION-MAKING,by the formation of Panels and Committees and asking them to recommend what the Western Globalist MNCs want.

ii)Absence of Debate and participation of the Public in the same.

That is no Public debate.Dissent not tolerated,heard.

iii)Because of (ii) above,UNJUST and UNPOPULAR decisions.

1.The pricing is in US Dollars based on International/Singapore benchmark,while refining is done in India. The price should be in Rupees, based on Total refining Cost.

Singapore benchmark cannot be used,as:-

i)Majority Indians, belong to the  Middle Class,POOR and Fixed-income Groups.Their earnings are very low compared to the International Standards.Even the per capita income of Indians is very LOW by International Standards,though much if it can be due to a FEW RICH Indians…

ii)The Indian PSU OMCs are VERY OLD and hence DEPRECIATION will be much less,contributing to huge profits.

iii)There is over-capacity in India in Crude oil,refining as per reports.

2.Landed Cost is misused in pricing.Landed coast applies ONLY for imported items,but this is applied to refined petroleum products produced in India.

It is worth noting that the PS OMCs,get about 30% of their Crude from India,[indigenous],at SUBSIDIZED rates.These do not entail,ANY import duty,at all.

The above two are the main items in the so-called “under-recoveries” a LIE by the  OMCs.Under-recoveries began to be misused,from 2005,only after M M Singh became PM in 2004. Vikram Singh Mehta,CEO of Shell India[a Rothschild  Co],was ADVISOR,to the Ministry Of Oil And Natural gas, for 4 years!In an INTERVIEW,on 27th April 2012,He is BOASTING that Shell India is selling,LNG at 3 times  the price of Domestic Gas!

IT SHOULD BE MENTIONED THAT THE, “ÜNDER-RECOVERIES”,ARE NOT ACTUAL LOSSES INCURRED,BUT IMAGINARY ONES.THERE IS NO ACTUAL LOSS,AT ALL.

Besides,the claim of losses,is NOT convincing,as:-

i)Crude oil IMPORT is not REDUCED.In manufacture/production,break-even point is a very important factor.But the break-even price of Crude is never mentioned.Above the break-even price the Refining Operation becomes untenable,

ii)India has over-capacity in Crude oil refining.If they are NOT profitable,then there won’t be any over-capacity.

iii)As per Petrofed,CAPEX is on in India in Crude oil refining.One source mentions,250MMT Crude refining by 2020.How can this be,if the operation is NOT profitable?

Under-recoveries,have been taking away huge chunks from the National Exchequer,from 2005,every year.The amount for the Fiscal 2011/12,was a whopping,Rs 1,38,000 CRORES.Since this is IMAGINARY,where  has this amount,been  going,for the last 7 years,EVERY YEAR?

   IT IS WORTH NOTING THAT,THE NATIONAL EXCHEQUER GAINS MORE BY WAY OF TAXES THAN THE “UNDER-RECOVERIES” OUTGO.

The SCAM is all the more pronounced,as the under-recoveries are going on soaring every year even after the prices of Petrol,Diesel,LPG etc have been raised.For example,the figure,for the last Fiscal was Rs 1,38,000 Crores and it is expected and reported to be,about, Rs 1,63,000 CRORES,THIS FISCAL.The price of crude is almost the same or less.How,is this possible?The “under-recoveries’ should be less.And they are IMAGINARY,to boot.Double Whammy for Indians!!

24/1/2013:-

The Finance Ministry,admits mistake [PARTIALLY!], but does NOT mention about cutting prices of the petroleum fuels!

23/3/2013:-

The misuse of the so-called “under-recoveries”,is for,RAISING THE PRICES OF INDIVIDUAL FUELS,LIKE PETROL,DIESEL,LPG ETC,WHICH IS NOT POSSIBLE,WITH COST-BASED PRICING!

4/11/2013:-

THIS link shows P.Chidambaram admitting that the OMCs are indeed,making profits.

An excerpt, from the link, above:-

“However, for the 14 PSUs in the oil sector, including Oil & Natural Gas Corp, Indian Oil and GAIL India, the ministry has sought a 30 per cent dividend, official sources said.

The Finance Ministry believes dividend from CPSUs is a return on investment made by the government and it should be commensurate with profits.”

 

To be continued……….

RBI has Gold Or Tungsten?

India has made a Gold swap with the  Bank of England[47 MT] and Union Bank Of Switzerland[20MT], in the 1990s[Why should a huge quantity of Gold be moved to and fro,which is risky, in a short period of time,unless it is for DECEPTION?], and purchased 193MT of Gold from the IMF.The IMF purchase and swapped material are suspected to be Tungsten plated with Gold instead of pure Gold.It is worth remembering that MM Singh has held responsible positions during both the times:Finance Minister when the Gold swap occurred and Prime Minister when the purchase was made.He is suspected to be controlled by the Rothschilds,as is Bank Of England.He is a former IMF employee.And Rothschilds,who were associated with LBMA till 2004 have an interest in Gold.They have since resumed their interest in Gold,reportedly.

Does one smell a rat?

Indian households have  OVER 18000MT of Gold.Will they(both the Households and their Gold),be safe under MM Singh?

Trend

Global:-

1.Banks may collapse in Q1,2011.Read here

2.US economy is in a bad shape.

3.China has started asserting herself in International affairs,by following strong nationalistic polices,like the rail it is constructing to Iran,etc.

4.Afghan Taliban leaders claim victory over the USA and Nato.

5.Forced conversion of Minorities by abduction and rapes of girls,reported in Pakistan.

Indian:-

1.Problems in Kashmir,Telengana and Manipur.The Maoists are also proving to be a thorn in the flesh of the indecisive UPA.Kashmiri Pandits demand that all the stake-holders be consulted regarding any decision on Kashmir,as Hindus constitute 43 and the Sikhs and Buddhists 7% of the population in the State.It is worth noting that the Kashmiri Pandits have been driven out by Muslims many years ago,and are staying in tents in Delhi etc.Muslims have also destroyed many Hindu temples in Kashmir. Pakistan is instigating the Muslims in Kashmir,smarting under the loss of the erstwhile East Pakistan,in 1971  and China is fishing in the troubled waters.

2.Using the Manipur blockade as an excuse the UPA Govt has agreed with Bangla Desh,to connect Agartala with the latter.Illegal immigration ,which is very high from Bangla Desh, is changing the Demography and Ethnicity of the region,resulting in religious riots.Illegal immigration from Myanmar is also quite significant.The long term effect is the borders becoming irrelevant for the formation of the ONE WORLD TOTALITARIAN Government of the Globalist Elites. It is to be remembered that MM Singh is suspected to be PLANTED,and controlled by the Rothschilds.He is a member of Club Of Rome and a former IMF employee,both Globalist bodies.Read about the recent, Deganga communal riots HERE.

3.Yamuna river crosses the danger mark and parts of Delhi flooded.

4.Work on the Commonwealth Games seems to be going slow and huge corruption has been exposed by sting operatives.

5.MM Singh favours Industries to Agriculture.Read Here.

6.Markets may remain flat.