Chasing ghosts

In retrospect, it appears that Petroleum Minister Veerappa Moily’s claims that powerful oil and gas ‘import lobbies’ are ‘threatening’ him need not be taken literally. After all, it is only the state-owned oil companies, which account for the bulk of the import of crude and natural gas, that could constitute such an import lobby. Nothing can be more absurd than a minister being subject to threats from companies under his own administrative charge. Perhaps, Moily was, in a nuanced way, making a larger point: Those who oppose market-based pricing are effectively acting as lobbyists for continued import dependence in a critical sector such as petroleum and natural gas.

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