"As much as a quarter of a trillion barrels of oil and gas are waiting to be found largely offshore, the (Indian) government has said, a figure that would top the official reserves of Canada's oil sands and rival those of crude-soaked Saudi Arabia."

Read the full story here
http://www.globeinvestor.com/servlet/ArticleNews/story/RTGAM/20050203/windioil0203

Is Nature helping India in her efforts to become Sone ki chidia once again?

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Man's Best Friend

Oil exploration brings a lot of problems in the country and in the environment.
I don't see how this can benefit the general population.
It will of course benefit a select few in politics and in the bureaucracy.
People who award the exploration rights, who give out the govt. contracts, etc. will have a gala time.

And it damages the environment so much - look at what oil exploration in the Arctic is doing to the environment there, which is effecting the entire world.

I hope this does not happen in India !

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Oil exploration has been done off the indian coast in the last century and I have not seen environment pollution happening out due to exploration yet. There is Bombay High which has been supplying tons of oil every month for years now. I think this oil find is one of the best finds for india and just like the arab neighbours who are oil rich. india will be self sufficient when it comes to oil. It can use this money which it makes from the find into infrastructure of the country and making programs to remove proverty. As the current oil exploration also takes care of the environment there should be more laws supportting the protection of the envrionment for now. But I really dont agree that oil exploration should not be carreid out. If the guy on top has bless india with oil so be it. Use it to its best.

Hi pratickm,

I think more than anything else if India could control its population growth, many of the problems would disappear. The biggest damage to the environment is being done by the ever increasing pressure from additional numbers that we add every year (one Australia is added yearly!).

The corruption menace exists in all societies, albeit to varying extents. It is next to impossible to completely root it out. You cannot stop development just because there is corruption in the system.

It is important for India to progress at a fast rate otherwise it risks being marginalized on the world stage. And progress demands its pound of flesh.

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Man's Best Friend