Skyhigh Petrol Prices

Be it Los Angeles or London, New Delhi or Sydney, dinner conversations inevitably turn into a lament about skyhigh petrol prices. Ascending numbers at the gas pump have become a horrifying fixture in the economic thinking of consumers worldwide except the lucky chaps in oil producing nations, where a full tank can still be had for small change. Unfortunately, this does not apply to the two leading economic locomotives in Asia – China and India. Both nations are almost fully dependent on oil imports to keep the cars honking and the industry humming. Projects to broaden the use of alternative fuels have not ascended above the line of marginality yet. Not that nobody was trying hard. Biofuel production is becoming a priority fast.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006