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India calls oil producers colonial exploiters but India totally failed to harness alternative energy and reduce oil consuption
It was interesting to see Indian Finance Minister call the oil producers colonial exploiters. Every one in this world is out there to exploit others if they can. The bigger question for India is why did India allow these exploiters to exploit the country? What about developing alternative fuels and conserving petro-energy? India with the largest number of technocrats has miserably failed to solve the alternative fuel problem. The whole country has focused on Information technology and answering telephone calls fro America and Europe – what about Mechanical Engineering, thermodynamics – what about alternative fuels, efficient combustion? Misguided policies of ignorant Indian politicians have brought India back into colonial age where the country is positioned to get exploited by the oil producers.
In sharp criticism of oil producers and the current petro prices, Union Finance Minister P Chidambaram on Saturday compared the producers to "old colonialists who exploited developing countries". In an interview on the Charlie Rose Show, he said that today's oil prices were ''''outrageous''''. Calling the prices "a way to impoverish developing countries", he likened the producers to colonial exploiters. "What is the difference between the old colonial regimes, when colonial powers exploited the colonies, took away their cotton, took away their iron, or took away their mineral wealth and left them de-industrialised? What is the difference between that and today, when all oil-importing countries are being impoverished? Three years ago, the price of oil was $28 a barrel," the Minister said.
BIZ/FINANCE ARTICLES
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