Wednesday, January 2, 2013

Under-recoveries of the OMCs exposed.

The so-called "under-recoveries"is a 2 G spectrum scam on an annual basis!!
       There is another scam in the making:-.the pricing of NG produced in India,based on an average one of  USA,Europe and Japan.
       While this is for favouring Shell India a 100% FDI,LNG Co of the Rothschilds and Total Of France,the master of M M Singh,the following argument of the Industry Sources",themselves refutes the claim of the so-called,"ünder-recoveries",by the OMCs[of course,helped by ,many in positions of Influence with a  wink],THEMSELVES!!!.
"Industry sources, however, raised doubts saying acceptance of the recommendations would lead to overriding of the signed contracts. Currently, Production Sharing Contracts (PSC) provide for gas being sold at an arms-length price discovered through market bids invited from potential users. Acceptance of the recommendation would mean government mandating a price of gas and ending the last of the remaining freedoms available, they said.

The government has already taken over the task of fixing users curbing marketing freedom guaranteed in PSC. Sources also questioned how a market price in the US or Europe which is a function demand and supply in that region, could be applied to a hugely fuel deficit nation like India. The US has low gas prices because of abundant fuel with the advant of shale gas while demand in Europe and Japan, unlike India, has fallen."
     Under-recoveries of the OMCs exposed.
     There are also other questions,like:-
1.Why not the same salary and perks as in the USA,Europe,Japan etc for Indian employees[of these Cos,especially]?The per capita income of Indians is LOW, compared to these three.
2.Why not pay the salaries and perks,where applicable,in US Dollars,Gold or the strongest Currency,prevailing?
3.Weather in the USA,Europe,Japan is different from  that of India and the Winter is COLDER.This may affect the prices.
4.Why not the cheapest prices from other nations like those in the Gulf ,Latin America etc etc?
                        THIS link,shows P.Chidambaram admitting the OMCs are indeed making profits.

Will be updated.....

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