Forget bad roads, we may not need them!

If analysts at Goldman Sachs are to be believed, we may soon be paying hundred rupees for a litre of petrol! Their latest super-spike oil theory (first propounded in 2005) suggests that a resurgent US economy coupled with a major oil supply disruption (another mess in the Middle East) could well jack up crude prices to 200 dollars a barrel.

Anaylsts Arjun Murti, Kevin Koh and Michele della Vigna believe that average selling prices for 2008 could hover around 135 dollars a barrel and rise by 10-15 dollars a year. In their earlier report, Goldman Sachs had put the average prices at 95 dollars, 105 dollars and 110 dollars a barrel for 2008, 2009 and 2010 respectively.

Also Read:Crude crosses $100, India Inc upset

So, if the Americans are trying to change their extravagant lifestyle, should India be following suit since we have already toed the US line by expanding road-based commute while ignoring mass rapid transport systems? If Goldman Sachs’ prediction does hit bulls-eye once again, we may well end up walking in to work as unlike the Americans who can draw on their huge oil reserves, we will not have enough oil or enough money to import the petrol that would be required to tank up our vehicles.

As for the Americans, they have already started blaming rapid growth in India and China for their predicament. The United States may be using ten times as much gasolene as India, thanks to their gas-guzzling cars like the Hummer, but then the developing countries are routine scapegoats for anything that’s going wrong. Remember…they ask us to cut down on carbon monoxide emissions, while they themselves continue to pollute with impunity.

Maybe, its time that some of us get off our cars and bikes and cycle to work. And those staying close by (within a five-km radius) could actually saunter in to work after a heavy breakfast!!!

Source: India Syndicate

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