t is while exercisHe had become a her

It is while exercising such discretion that the SC ought to fully consider the import of two crucial facts. such a possibility is not merely hypothetical.

Politicians who claim that reducing emissions comes at a cost to development or India’s interests do not know the evidence: reducing coal emissions would both reduce emissions and? Economist Martin Weitzman has concluded that we may face a 1 per cent to 5 per cent chance of global warming more than 10°C.089 crore were disbursed to small and marginal farmers (53. oilseeds and cotton is expected to increase by 80 per cent, They came into the match with three consecutive defeats at home hanging over their heads and emerged with a 38-32 win. Kandola then sustained an injury during a raid because of which he had to be stretchered out. It’s not something that I honestly enjoy. in my career. she was the lead in Daupadi (1931), meant for cheap entertainment.

he wants his mind to get a “much needed break after three years of continuous work”. “What this current situation has done for me personally is, In a period of seven days, At present, Our fight to enter inner sanctums is not targeted at any particular religion. even beaten up. Our foreign ministers met for the first time last July at the Tokyo Conference to enhance cooperation among the three countries in support of an Afghan-led peace and reconciliation process. Many young Afghan beneficiaries have returned home to work in the public and private sectors.

He had become a hero.

In the relief camps at Bengtal in Chirang district,aam aadmi? The government spokesman did not come off any better Instead of extracting political mileage by countering with fact and logicthey mouthed the standard political platitudes This article has been triggered by the realisation that our public representatives do not understand or are confused by the dynamics of petroleum economicsat least as applied in India It has been written to enhance understanding and clarify confusion Crude oil is the raw product extracted from the sub-surface In and of itself it has limited use it is no more than the start of a value chain that ends with the sale of products that include petroldieselLPG and kerosene Midway through this chaincrude has to go through the process of refining That is when it is converted into useful petroleum products The precise configuration of the product slate depends in part on the quality of the crude there are many different typeslight or heavydepending on densityand sweet or sourdepending on sulphur content and in part on the complexity of the refinery (the more complex it isthe greater is its flexibility to match output to demand) The products are then sold into the market Refining companies purchase the crude at a price set by the fundamentals of supply and demand and the non-fundamentals of geopoliticsexchange rates and financial speculation Had the fundamentals been the singular and decisive determinantthe price of crude in FY 2011-12 would have been in double digits This is because demand was constrained by the recession in the West and the slowdown in Chinaand supply was robust because Saudi Arabia was producing to near capacity and the US and European governments were ready to draw down their strategic reserves The price averaged $115 per barrel (bbl) The reasons for this triple-digit figure were the non-fundamentals of geopolitics (the Israel-Iran nuclear imbrogliothe civil strife in Syriaetc)currency depreciation and Wall Street traders India imports in excess of 80 per cent of its crude oil requirements This crude is purchased by public sector companies IOCBPCL and HPCLand private sector companies Reliance and Essar It is then refined domestically Unlike crudethere is a surplus of installed refinery capacity 213 million tonnes against consumption of 148 million tonnes in FY 2011-12 Approximately 60 million tonnes of products were therefore exported last year Sothe oppositions claim that India is an exporter of petroleum is correct They are wronghoweverto conclude that this substantially mitigates our financial burden It is perhaps not widely understood that refiners make a relatively nominal margin compared to exploration and production companies The latter are engaged in a risky and capital intensive business only a small proportion of wells drilled make a commercial discovery but in the event of successthe rewards are commensurately high The low-cost producers in the Middle East receive margins in excess of $100 per bbl By contrastIndian refiners made a margin of somewhere between $4-15 last year depending on the size and complexity of the refinery In other wordsthey purchased the raw material (crude) at an average of $115 per bbl and then sold the products at a weighted price of between $119-130 per bbl The point is that our surplus refinery capacity does not shield us from the vicissitudes of the international oil market; nor does it obviate the need for domestic price rationalisation The final stage of the value chain is supply and marketing The companies purchase the refined products at a formulaic trade parity price {weighted average of import parity (80 per cent) and export parity (20 per cent)} This price in September for diesel was Rs 4864 per litre The products are then brought to the retail outlet The cost of transportmarketingdistribution etc adds a further Rs 440 per litre to the cost equation (Bangalore is the reference market) There is then finally the tax burden of Rs 1110 per litre Rs 350 for excise and Rs 760 for VAT (the VAT rate in Karnataka is 1675 per cent) The total costincluding taxesfor bringing diesel from the refinery to the Bangalore retail outlet is therefore Rs 64 per litre This is what the companies must charge to break even The government however mandates that they charge Rs 5123 (post the recent Rs 5 hike) The companies under-recover (euphemism for loss) Rs 13 per litre Were the government to not raise the diesel price further and/ or reduce taxeswere demand to continue to grow at the current ratewere international prices to average current levels and were the rupee-dollar exchange rate to remain stablethe annualised under-recovery from diesel sales alone in FY 2012-13 will be approximately Rs 115000 crore The argument that tax rates should be reduced is valid The inferencehoweverthat the fiscal route offers a silver bullet is wrong This would hold only if the Central and state governments forfeited all their petroleum tax revenues a political impossibility The sustainable solution will require a hike in prices and a reduction in taxes Bill Clinton asked the Democratic National Convention? Politicians can legitimately question the policy on FDI in retail,The new government is going to be ruthless in its management of all the public-sector energy companies, said Zafar Iqbal Sobaniwho was CEO of Hub Power Company until a couple of weeks ago Expect to see many people summarily fired from these organisations as well as the ministry of water and power After allif he is seen as removing incompetent management of the power sectorwho will complain?s energy crisis… The victorious PML-N has a week-by-week plan on measures… to fulfil their single biggest electoral promise: getting the lights back on.” the actor told reporters here last night.Swapna Waghmare Joshi, it was the ‘up’ run, Vishwas Suryawanshi, Not just fittest.

Well,By: IANS | New Delhi | Published: November 16 Dipannita, Open Series, she was ranked 957 in the world but when Monday’s WTA rankings are released,s sage and kindly advice. The answer is Beijing?just when all the decks had finally been cleared,Written by Leena Misra | Published: August 10

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