Doubling of natural gas price to $8.4/MMBtu from $4.2/MMBtu, the UPA II government has brought cheers in the camps of oil producers, but a glum has rubbed over the power and fertilizer sectors of the country. The verdict based on the intricate Rangarajan formula (that is even unclear to many in the government) seems to be well executed as the increase will come into effect just when RIL’s KGD6 formula of $4.2/MMBtu terminates.Isn’t it fishy or just coincidence, but why the UPA loves doling out so many surprises time and again? Read more...
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