Posted on: 07-10-04 21:01:20
Oil prices are firming up each day with records falling like nine pins almost at every trading session in key oil markets. Nymex (New York Mercantile Exchange) futures prices for US light crude touched a new high of $53 a barrel on Thursday. London’s Brent crude also struck a record peak, rising $1.21 a barrel to $49.20.
However, a common misconception in India is that this is the price we pay for our crude oil. Though prices have been high for Indian oil companies, who import most of their crude requirement, they are not as high as the Nymex and Brent futures prices, which are widely quoted in the media.
http://economictimes.indiatimes.com/articleshow/877544.cms
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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership
Quote:
Orginally posted by Loser
US light crude touched a new high of $53 a barrel on Thursday.
you mentioned that India is safe with the gulf oil.
now the price is aroung $ 65 + more than 12 dollars per barrel when you posted
No country is safe as this supply is not forever . It will exhaust in no time
The need is to develop alternate fuels / hybrid vehicles / fuelcell technology etc
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Non illigitamus carborundum
Quote:
Orginally posted by goldeneye
Quote:
Orginally posted by Loser
US light crude touched a new high of $53 a barrel on Thursday.
you mentioned that India is safe with the gulf oil.
now the price is aroung $ 65 + more than 12 dollars per barrel when you posted
No country is safe as this supply is not forever . It will exhaust in no time
The need is to develop alternate fuels / hybrid vehicles / fuelcell technology etc
Toyota has come up with the hybrid model 2006 which is on road. It combines petrol engine and electric motors to supply power. It is efficient on city roads because of low speeds, car runs on electric motors operating on car battery. On traffic light petrol engine shuts off and car is on electric motors. When battery power goes down or addition power to build speed is required, petrol engine comes up to compensate. On highways for the high speed it has to depend on petrol engine for extra power. Check on toyota website for hybrid highlander model. They have shown it graphical how car works. Eco friendly car.
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