Bhamy V Shenoy's Comments Stream Stats
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Oil Manipulations Exposed
In fact time has now come for us to start a movement to stop this non sense of trading in futures and options to "discover" prices. The world was perfectly fine before the early 80s when we did not have to discover oil prices through the futures market. The actual trading sent perfect signals and the market knew what the prices were. They did go up an down to reflect supply and demand. But it was the actual supply and demand for wet barrels unlike the manipulative paper barrels. Today's is a con game played by those outside the oil sector.
I have worked for an oil company and none of the mega companies will indulge in these shenanigans despite whatever one may say. Yes there are companies like Enron. But oil mega companies have higher standards and any of these shenanigans will come out sooner than one think. Enron was manipulated by some very high ups and its downfall also came when one of them came out. Similar thing would have happened in the case of mega oil companies.
Where Are India’s Innovative Companies, Products and Solutions?
The biggest problem in my view is the non-functioing governance system because of indifference educated people who having been educated at the expense of the poor of India have either immigrated geographically like Jason whom Mark gives as an example as an innovator or those resdient Indians who have immigrated psychologically by being indifferent to Indians realities.
Just look at number of patents of NRIs (about 45000) is more than by RIs which is about 35000. This can be used to explain the absence of innovation ecosystem and also to explain how India lost so much wealth beacsue of the brain drain.
When robber barons like Rockefeller, Carnegie were alive, they werebusy in establishing and operating huge fchaitable oundations which contributed significantly. What have our IT sector rich enterpreurs quoted by Mark done for India? Yes they have established some charitable NGOs. But their contribtion is only at micro level and not attempted to bring about any significant policy changes which is badly required for the government to function.
How was the revolution in communication in India which has connected millions of people? How did the cable TV net work develop in such a short time serving more than 60% of the market? How did airline industry flourish in India? How did we start getting several brands of cars (now the world famous Tata Nano) when we had to choose from just three in 80s? This was because of liberliaztion of economy brought about by policy changes. What we need is major policy changes for the invisible hand of the selfish interests of people to function for the needed innovations to take place to solve India's problems. Incidentally we should not aim for the "so called development of western countries" and we should have Indian development pardign based on our own culture of "simple living and high thinking". This is the point which has been either ignored or rejected by Mark. We should try to minimize the use of energy while meeting our minimum needs unlike the west who want to maximize the use of energy to meet the ever increasing demands based on higher GNP.