ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NEW DELHI- Drift in Oil

NEW DELHI Drift in Oil REPORTS have been appearing for some time about possible rationing of petrol or a sharp increase in its price to curb consumption. This is nothing short of a quixotic response to the energy crisis stemming from the progressive shift, in the last ten years or so, of the energy base of the economy towards dependence on imported crude oil. There is a very good case for curbing the consumption of petrol by automobiles, but it will hardly touch the fringe of the problem. What is called for is a restructuring of the overall energy policy and bringing it in line with the natural resource-base of the economy. Of course, this kind of restructuring cannot be attempted by the Petroleum and Chemicals Ministry alone. What does, however, concern the Ministry directly and urgently is the question of stepping up the effort to augment indigenous sources of crude oil. Here, in its area of prime responsibility, the Ministry has been most amiss. This is to be seen from the sluggish manner in which it is handling the question of the reorganisation of the Oil and Natural Gas Commission.

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