Oil prices determined by Punters? 
June 22nd, 2008 | by ShreeRadha
What I get from FM’s speech that prices are decided on paper purchases and not on actual deliveries. Is that true? So surprising! Why one should quote the price when one does not want to make actual purchases? Is that happening ? It is unbelievable! Why oil producing countries should allow that? Who gets the benefit? Are oil producing countries supporting PUNTERS? In that case the all other countries should sell them eatables in the exchange of oil and not for money.Why America and other developed countries never raised this issue? These are just my doubts. I do not know exactly how oil is traded. Still I think India needs a lot of self restraint from its citizens. Oil consumptiom must be reduced at individual level. The following steps may be useful. 1. Stop production of new cars. 2. Make a rule of one car per family of 6 persons. 3. Apply special tax on car owners to cover the price rise. 4. Apply rationing of petrol for cars and motor bikes. 5. Bring down prices of battery driven vehicles to the tune of Rs.5000/- by giving them subsidies. 6. Completely ban empty bus trafic by public transport systems. 7. Allow small vehicles like six sitters (gas driven) where city transport buses do not run to their full capacity. 8. Remove toll collection centers on highways. And ban octori through out the country. At these point nation lose quite a good amount of fuel as usually vehicle has to stop with engine on! 9. Raise exporting price for food grains particularly for gulf nations and all nations should follow the suit. 10.Instead of SEZs create SEFs (Special Economic Farming Zones) where government should offer all expert advice to improve yield of the crop. And government cells should monitor the fields so as to get maximum benefit from the land under cultivation. All these services should be offered free of cost to the farmers! This would help reducing the food price rise irrespective of oil prices! When pleading ends, one must look at alternative courses of action. You cannot sit hand on hand and watch the situation to deteriorate.