Fuel Price Hike

The hike in the prices of petrol, diesel, and LPG were not unexpected. While this hike is likely to stroke inflation even more, and exert further strain on the monthly budgets of several households, there are two things which merit attention:

a) As this hike was less than what the Oil Marketing Companies require to make decedent profits, and as the government had its hands tide up because of the forthcoming assembly elections, and general election next year (hopefully) , then would it be unreasonable to predict a price of Rs. 100 per litre of petrol by 2010, assuming that the international price of crude remains above $100 per barrel for another year or so? and

b) It is now time to seriously devote our energies into alternate renewable fuel technologies which can power the automobiles of tomorrow. Let the premier engineering institutes like the IITs take over this challenge, and help us reduce the percentage of crude oil imports from over 70% to less than 30% of the total import bill, within the next five years at the most. How come none of our political leaders including those from the left parties, who have been opposed to the fuel price hike, have not thought on these lines ?

Let's ponder on these two points.

Best Wishes

Navneet.