Narendra Modi’s role in Crude Oil Crash

It is interesting to note that India’s most loved Prime Minister Mr.Narendra Modi would have actually been responsible for the crash in Crude Oil prices. If you could extrapolate the situation which is responsible for the crash in crude oil prices, it kinda reveals that it is Mr. Narendra Modi – whose initiative has led to the crash in crude oil prices across the globe.

While it would be an exaggeration to put all the “blame” on Modi, it could be true that he had a fair role in the crash of oil. By implementing his “Look East” policy, Modi is making India consolidate its presence in South East Asia. Russia has always been a trusted partner of India and Modi is balancing his relationship well with the United States too.

Ever since he was elected the Prime Minister with a thumping Majority, he proclaimed that he would work closely with Russia. He started taking baby steps towards sourcing oil from Russia instead of relying solely on Iran and Arabia who were routinely over-charging Indians on Oil. Modi Negotiated with Russians and I believe the Russians even agreed to accept Indian Rupee for transactions. So on December 11, 2014 when Modi had invited Vladmir Putin to India, he struck a deal with Russia to import oil from them to the tune of US$ 40 Billion (USD 10+ Billion each year, about 61000 crores annually at present exchange rates) in the forthcoming years (http://in.reuters.com/article/2014/12/09/india-russia-energy-idINKBN0JN15X20141209). Everyone agrees that oil prices reduced due to a wide gap in supply and demand. And everyone agrees that together India and China are the largest consumers of Oil. Until now, Arabia was almost the sole supplier for these two hugely populous nations. (Only recently Modi government had planned to diversify oil imports – http://www.livemint.com/Politics/dtqX201kKrlYSwlaNuuH5N/India-plans-to-diversify-oil-imports.html).

Prime Minister Narendra Modi has assured Vladmir Putin, who is on a visit to Delhi, that India opposes any form of sanctions against Russia. The prime minister has pitched for more cooperation and bilateral trade ties with Russia. Narendra Modi and Putin have agreed to increase the oil imports from Russia by 40 times the present levels, starting early 2015. This would significantly reduce India’s reliance on Arabian peninsula for oil. Arabia will not longer be a dictator as far as pricing oil is concerned. The reduction in pricing by Arabs is to ensure that they do not loose big markets to Russia which is aggressively pursuing new markets for selling its Oil and Nuclear Technology at a fair price.

During the BRICS summit, It was Narendra Modi who proposed the idea of creating a BRICS focused development bank (http://www.telegraphindia.com/1141116/jsp/business/story_19047093.jsp#.VMPqV_mUfF8). This initiative – in the long run – may strengthen local currencies – which in turn could affect the position of US Dollar as a fiat currency. The initiative on BRICS Development Bank is significant because these countries are major investors of US Dollars in oil trade. With payments in local currencies, the fluctuations in Dollar would not affect the pricing of the Oil and it gives more bargaining power for the concerned nation which consumes Oil.

Even before BRICS summit, Modi highlighted the importance of sourcing oil from Russia while talking about building closer ties with Russia – which is also a BRICS member. (http://articles.economictimes.indiatimes.com/2014-07-17/news/51656791_1_prime-minister-narendra-modi-indian-pm-president-putin). This was one of the important issue discussed during the summit and Narendra Modi promised closer ties with Russia – which was reciprocated by his Chinese counterpart. Being a BRICS nation, China followed Narendra Modi’s initiative and increased its quantum of oil imports from Russia (deal signed on December 22, 2014 – following Narendra Modi’s initiative). Obviously China has much greater demand and it was nine times greater than what Indian government planned to buy from Russia (about $360 billion to $400 billion). The huge demand for oil from India and China were a considerable factor in pricing the oil globally. Arabian countries almost had the monopoly in pricing it.

Coincidentally USA devised a way for extracting Shale Oil reserves and the need to import from Arabian countries reduced further. The demand fell all of a sudden while the supply remained the way it was. This is also one of the important reason as to why Crude Oil has crashed to this level. But only two states in USA are presently extracting oil this way and reduction in prices is not just because of discovery of Shale Oil alone. India and China had been voracious consumers of Oil and both the countries can jointly cause huge impact. The decision by both these countries to source oil from Russia is a tremendous blow to Arab monopoly on oil – thanks to the initiative by Narendra Modi. The reduced demand from India and China along with the discovery of Shale Oil reserves in USA led Arabian union to reduce oil prices drastically – that is exactly what we are witnessing now.

Consistent with his style of functioning and his corporate vision, Narendra Modi announced that Government will only focus on governance and oil companies would source oil from Russia. Subsequently, Essar signed a multi-billion dollar oil deal with Russia’s Rosneft spread over 10 years.[http://www.livemint.com/Politics/xNZ9QGY2v4hE0OGpZp4UuN/Essar-Oil-signs-10year-crude-import-deal-with-Russias-Rosn.html]. This in turn would create ample job opportunities for youth of India.

Narendra Modi and his Chinese counterpart have categorically stated that they would not be paying for Russian oil in US dollars. This is a landmark decision which is sure to cause an impact across the globe. This may further accelerate the decline on the value of dollar and would help in strengthening Indian Rupee and Chinese Yuan. Narendra Modi has asked the Oil Ministry to investigate and discover new Oil fields in India for auction (http://articles.economictimes.indiatimes.com/2015-01-16/news/58149501_1_marginal-fields-oil-india-ltd-oil-minister-dharmendra-pradhan). India at this point, is not self-sufficient as far as Oil is concerned. If the discovery of new oil fields in India are significant, it would slowly make India self-sufficient in Oil thereby reducing the need to depend on Russia. If this happens, Indian economy would grow at a highly accelerated pace. Additionally government is not going to control the oil fields, but would auction it to Companies willing to extract them. It means there would be healthy competition between Indian Companies and there would be plenty of job creation too.

Given all these, you can expect oil to reduce further down – to about $30 – $35 levels. It would stay that way for a good period of time until some other developments drive it north. The big question is does Modi realize that he had initiated the process that caused this downward trend of oil ? And how long oil would remain this way? Is it good for the Indian Economy as a whole ? Hope Budget 2015 puts Indian economy on a fast track as far as growth is concerned. But until then, lets give Narendra Modi the credit where it is due!

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  • dinipc

    lol

  • Aloo Paratha

    lol

  • ghanta

    Hahahaha ha !!!

  • Vik

    Interesting analysis. Saudi Arabia did say in the OPEC meeting that one reason for them not to reduce their output is that they are loosing their Asian customers to others. Since Oil purchases are based on long term contracts, once they loose a customer, they are basically gone for a long time or forever.

    • Jess Miranda

      I put the real analysis for the oil price drop globally in my comment.. Check it out.. Then you would know the real story than blindly saying ” Yes ” to the above article. The article is just misleading just for your information.

      • Abhishek G

        Mr. Jess,

        Your analysis is faulty, and your data is incorrect.

        Please see the attached images…….to know the actual market..(latest import-export data as per U.S. Energy Information Administration (EIA).

        I think the analysis did by Mr. Krishna S Santosh could be the reality, as India is the World’s 4th largest oil importer, whereas Russia is 2nd largest oil exporter in the World……

        • Keshav

          So the author of this article is right… india + china consumes more than USA… Jess Miranda -> go drink Miranda and do not keep spamming… you know nothing except modi bashing… Modi is India’s jewel… do not spread hatred unncessaritly aaptard…

          • Jess Miranda

            That’s good for you man. I am happy if Modi does good things for India. I have nothing against him personally. As far as BJP doesn’t loot my country again like Congress.. I am Kush..

        • Jess Miranda

          Abhishek, I agree that my information on India being 3% buyer was wrong. I had pulled out 2011 report without realising the consumption has been doubled since 2011. Here is the link supporting my 3% importer analysis https://econographics.wordpress.com/2012/11/22/oil-consumption-as-percentage-of-world-total-2011/ where in 25% consumption of oil is produced in India based on I read somewhere.

          However, based on the above data you have mentioned India is 7.6% buyer globally. Explain me, how does 7.6% could make difference.

          2nd, in the same link if you look at the difference between world’s consumption where in 62767 thousand barrels per day and the production is 70464 barrels per day. Now world has 7697 thousand barrels per day excess oil. So when there is supply is more than the consumption the prices would automatically fall. This is nothing but the theory of demand and supply holds good in this situation. Note, that Russia is a biggest hit with the oil price drop. Dont think Russia is a very rich country. They have enough problems to deal with and moreover Russia depends 70% on oil income. So being price drop on oil is a biggest hit for Russia , you explain me why would Russia takes a chance if Modi played his role in oil price drop? You explain me, to drop the oil price globally, do you think Russia was willing to sell the oil for 50% less of the market price to India?

          I am just replying you just to be logical. Its left to you to consider if I make sense or not.. Because I have nothing in personal with anyone. My ego doesnt hit with all these. I just shared my knowledge what I have.. Thats all.

      • ha ha ha

        It may be true that Modi is not directly responsible for world crude crash, But you data is faulty, India is not 3% share of world Oil Consumption instead India is 4th largest consumer of world crude .

        http://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption

        • Jess Miranda

          Sorry Hahaha .. The information I mentioned saying based on “Hahahaha ” its based on Abhishek G’s

        • Jess Miranda

          Yes, the truth always sounds bitter when that’s not as per your view.
          But facts are facts and figures are figures. Now I was wrong on the
          consumption part of India where I mentioned India as 3% buyer of oil but
          in real it is 7.6%. Think logically, how a 7.6% buyer could make
          difference in global oil crash. I had pulled 2011 report where in I
          should have done the recent report

          Now based on “Abhishek’s
          reply on 2013 import information, India imported 2527 thousand barrels
          per day where in total imports over the world is 33171 thousand barrels
          per day as per the link here
          http://www.eia.gov/countries/index.cfm?topL=imp. If you calculate based
          on percentage wise India is 7.6% buyer. Now being 7.6% buyer you explain
          me how India would be responsible for oil price cash?

          My theory
          of Supply and demand still holds good as per the data in the above
          link. The total world’s oil production is 70464 thousands barrels per
          day and the consumption is 62767 thousands barrels per day where in the
          world has 7697 thousand barrels excess everyday. What else would happen
          when you have more supply than demand, the prices would obviously crash?

          Note that, I have nothing against Modi. If he is doing good
          things for India even though I dont live in India good for the country.
          Every individual expects the country to move forward. If he is taking
          steps to move forward its good. He is doing his job. I am a writer, I
          write what I feel correct nothing to hurt the writer above or Modi.
          India has been looted over the years either by Congress, BJP which ever
          party came to power. I being an ex Indian citizen dream my country to be
          forward just like any other developed countries. But India wont be
          developed unless it becomes corruption free. Problems with Indians is
          tolerating everything is done by the politicians. People love the
          parties than the real leader it supposed to be. There are thousands of
          issues to discuss. Every country has problems and corruption. But the
          degree of corruption India has is worst. So note that my analysis was
          purely to educate not to hate. I have nothing against you , the author
          or Modi.. All I request is do not have Andh bhakthi, this way encourage
          the Prime minister to do good. We dont want India to be devided based on
          religion but we want India to be peaceful, live in brotherhood, working
          hard to be just like US, UK, Japan all the developed countries.

      • Vivek

        I think u r kaju bhakt….hahaha…..always seeking for Shit!!

        • Jess Miranda

          Sorry Vivek, I dont talk the language you talk.. My parents have taught me to use good words no matter what bad words you use me.. God bless you

  • Roy Stiffler

    Dumbest article I’ve ever read! Good job..

    • MuslimsWithModi

      You can read the links given in the above article.

      • Jess Miranda

        MuslimswithModi , some unknown fake commentator, I put the real analysis for the oil price drop globally in my comment.
        Read it. Then you would know who is Andh bhakth. In real the article
        above makes no sense. Think logically how a 3% oil buyer world wide can
        bring oil price drop. Dude, wake up, and realise, when the world wide
        the oil production becomes more than the consumption the oil price drop
        takes place.. Hope you understand simple economy theory of Supply and
        demand. I have provided valuable insight if you have eyes to look up and
        brain to think.

      • Jess Miranda

        MuslimswithModi , some unknown fake commentator, I put the real analysis for the oil price drop globally in my comment below. Read it. Then you would know who is Andh bhakth. In real the article
        above makes no sense. Think logically how a 3% oil buyer world wide can
        bring oil price drop. Dude, wake up, and realise, when the world wide
        the oil production becomes more than the consumption the oil price drop
        takes place.. Hope you understand simple economy theory of Supply and
        demand. I have provided valuable insight if you have eyes to look up and
        brain to think. In fact I spent time for you to realise. If you realise and able to think logically, good for you. If not you want to stay dumb its your loss.
        [Commented Truncated for Spam Protection. This comment is being consolidated]

    • Jess Miranda

      I agree with you Roy.. That’s why decided to spend some time in educating the writer of the article and Modi’s followers who praise him after reading the article.. They have failed to put my analysis in main comment, so I decided to paste my analysis below every comment mentioned here
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Kiran B

    Excellent Analysis…!!
    Day will come when India starts dictating the terms..!!

    • Jess Miranda

      I put the real analysis for the oil price drop globally in my comment.Check it out.. Then you would know the real story than blindly saying “Yes ” to the above article. The article is just misleading just for your information.

    • Jess Miranda

      Read my analysis below to know the actual fact. Just dont say “yes ” for the author in real its not true
      [Commented Truncated for Spam Protection. This comment is being consolidated]

      • Just STFU. Ignorant, spamming the thread.

        • Keshav

          see the comment from Abhishek G which justifies authors stand that india+china consumes more than Usa..

        • Jess Miranda

          Yes, the truth always sounds bitter when that’s not as per your view. But facts are facts and figures are figures. Now I was wrong on the consumption part of India where I mentioned India as 3% buyer of oil but in real it is 7.6%. Think logically, how a 7.6% buyer could make difference in global oil crash. I had pulled 2011 report where in I should have done the recent report

          Now based on “ha ha ha’s reply on 2013 import information, India imported 2527 thousand barrels per day where in total imports over the world is 33171 thousand barrels per day as per the link here http://www.eia.gov/countries/index.cfm?topL=imp. If you calculate based on percentage wise India is 7.6% buyer. Now being 7.6% buyer you explain me how India would be responsible for oil price cash?

          My theory of Supply and demand still holds good as per the data in the above link. The total world’s oil production is 70464 thousands barrels per day and the consumption is 62767 thousands barrels per day where in the world has 7697 thousand barrels excess everyday. What else would happen when you have more supply than demand, the prices would obviously crash?

          Note that, I have nothing against Modi. If he is doing good things for India even though I dont live in India good for the country. Every individual expects the country to move forward. If he is taking steps to move forward its good. He is doing his job. I am a writer, I write what I feel correct nothing to hurt the writer above or Modi. India has been looted over the years either by Congress, BJP which ever party came to power. I being an ex Indian citizen dream my country to be forward just like any other developed countries. But India wont be developed unless it becomes corruption free. Problems with Indians is tolerating everything is done by the politicians. People love the parties than the real leader it supposed to be. There are thousands of issues to discuss. Every country has problems and corruption. But the degree of corruption India has is worst. So note that my analysis was purely to educate not to hate. I have nothing against you , the author or Modi.. All I request is do not have Andh bhakthi, this way encourage the Prime minister to do good. We dont want India to be devided based on religion but we want India to be peaceful, live in brotherhood, working hard to be just like US, UK, Japan all the developed countries.

        • Jess Miranda

          Sorry Deepak, the information I mentioned was based on “Hahaha”‘s link but it is of Abhishek G

  • Ramesh Sindhar

    writer seems andh-bhakt of Modi

    • MuslimsWithModi

      You seems like a sad soul person who became blind because of MODI fobia… you lost your mind and all your consciousness … you can read the links given in the above article.

      • Jess Miranda

        I put the real analysis for the oil price drop globally in my comment. Read it. Then you would know who is Andh bhakth. In real the article above makes no sense. Think logically how a 3% oil buyer world wide can bring oil price drop. Dude, wake up, and realise, when the world wide the oil production becomes more than the consumption the oil price drop takes place.. Hope you understand simple economy theory of Supply and demand. I have provided valuable insight if you have eyes to look up and brain to think.

    • Jess Miranda

      The truth is always bitter Ramesh. That’s why we have dumbs around who are so overwhelmed with love of Modi which in return write all nonsense and poor Aandh Bhakt support them. Its nothing but heights of craziness..
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • ramachandran

    Good analysis

    • Jess Miranda

      I put the real analysis for the oil price drop globally in my comment.
      Read it. Then you would know what’s actual fact for the oil drop..

    • Jess Miranda

      You should read my analysis to know the real fact.. Hope it opens your eyes

      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Prashant Sankara Kumar

    This is real sad stuff. Agree on the supply demand aspect! But to think that China followed Indias’ lead is pathetic. Such huge multi billion dollar deals usually take a span of just 10 days to complete. Can’t believe the author actually stated this as a relevant point by mentioning the dates!!!!! WT*

    • visualsan

      Modi and Chinese leader had discussed this during BRIC meet at brazil and it was Modi who initiated this. The article seems to have skipped this point.

    • Keshav

      the author mentioned that it was discussed at BRICS initiaitve of modi. you should feel proud of it. it is good to see such articles which brings out truth that is not covered by any media..but if you are an AAp supporter you may not like this article which praises modi.

      • Ketan

        BRICS bank was conceptualized well before modi became PM. And important decisions aren’t made that soon. One decision taken by modi was to buy oil from Iran in INR so first price reduction was even before fall in crude prices.

        • Keshav
          • Amit

            I dont know abt the exact dates etc but yes Iran was under US Sanction and desperate to sell Oil at that time they were asking India but Congress led Govt was too week to go against US Dictate When Modi came he not only decided to Buy oil from Iran in huge quantity but he also negotiated to trade in Indian rupee then same thing happened with Russia it was under US Sanctions again and India decided to buy from Russia in INR similarly in terms of Nuclear Deal in 2008 we did a deal with USA but with Russia in one Visit india approved 12 new reactors purchase because we can trade with Russia in INR this deal is also better for US and similar Deals are being done between China and Russia Brics Bank is a concept which will be Viable just due to such big deals between India Russia and China Modi has moved aggressively in this direction some Congis will come and say Brics Bank was proposed long back yes it was but Congress Govt In India never supported it because USA always saw Brics and its Brics Bank as an attack on Dollar and Congress govt and MMS never had the Balls to go against the Wishes of USA after all this Obama was forced to accept that India is a Imp nation and it cant be tutored like before so he had to come and Visit also Modi took all this three steps tht is oil frm Iran oil frm Russia and Brics Bank to kick USA in the balls for denying him VISA and one gud fellow said USA is biggest consumer of Oil i pity at such half educated retards USA is biggest producer of Oil in Middle east most of the Oil is produced and Sold by USA Companies so its pointless to compare US consumption to Indian or Chinese Consumption if you want to do that then take US Production and revenue from Oil production from Mid East and reduce the consumption and see if US is in Profit or loss when it comes to Oil while for India and China Oil is a net drain to our economy for US its a profitable business Its like a Oil tanker which transport oil it consumes oil in doing so but the amount of oil it transports gives it profit above its consumption

          • DBR

            Hi Bhakt,
            I am going to actually educate you about 2 things:
            1) . –> this is called as a full-stop. Used to mark end of a sentence.
            2) , –> this is called a comma. Used to separate parts of sentence.

            Funny.. So much bhakthi and knowledge and not understanding the basic usages of punctuation marks. Grow up.

          • Nibedita Bal

            Andh like you only emphasise the “”” usage of punctuation marks “””. But not on reality. .

          • Jess Miranda

            What an interesting analysis by Modi’s Andh Bhakth? I think even a kid of 8th grade
            knows better than the writer about how the crude oil price crashed. Dear Mr. Writer you have made yourself to
            look like a fool by writing this article. Kindly read my below analysis for the
            reason of Oil Crash Globally. Simply don’t say “Modi is responsible for
            the oil crash globally, when he has done nothing to crash the oil price..
            [Commented Truncated for Spam Protection. This comment is being consolidated]

          • Jess Miranda

            Oh really.. I am surprised that you didn’t give the idea to them..

            [Commented Truncated for Spam Protection. This comment is being consolidated]

        • MuslimsWithModi

          Could you please give the links of facts your writing here so we can also get educated.

          The article writer has provided the other sources links

        • Jess Miranda

          Chalo, read this.. It might help you to know what’s really going on in the world
          [Commented Truncated for Spam Protection. This comment is being consolidated]

        • Gaurav

          Ideas doesn’t matter.

          There are hundreds of blogs written daily on new ideas.

          What matters is what you do with the Idea. Congress never had leadership qualities to take India in decisive position.

    • Jess Miranda

      Guys, heights of Andh Bhakthi makes them look fools around educated logical Indians. Nothing can be done, when after knowing if they still want to believe the same thing which is not true.. I have put my analysis above today as well as I find this article misleading.

    • Jess Miranda

      Sad that dumbs like the Author and his supporters expressed their limited knowledge out of Modi love. Pity them. I hope my article of analysis helps then to know the actual reason for oil price drop realising Modi had nothing to do..
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Vijayakrishnan Nair

    This angle cannot be ruled out. Sourcing from Iran against Rupee payment to counter Saudi’s dollar thirst was known earlier. The Russian angle is a new one. If it is correct then its just amazing… Read recently that Saudi could crumble if the price of oil sustains at below 50 usd for long…

    • Jess Miranda

      I put the real analysis for the oil price drop globally in my comment. Check out.. Then you would know the real story than blindly believing the above article. The article is just misleading just for your information.

    • Jess Miranda

      Read the fact to know the truth. Then you would know how the writer above has fooled people or became fool by writing this article.
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Banwasi Kshatriya

    Very interesting analysis. However, the impact of the India’s deal cannot be that huge to sway the tide of the oil prices on the slippery slope it has been since October of 2014. A close look at the recent decline of the housing market in China would shed some light on the demand being lower that projected values. Also the excess supply is due to the aim to meet the projected demands. Only two state in the US might be producing but you should also look at the volume. There is a very good analysis on US Department of Energy website. Take a look.

    Sure there might have been some changes in the demand supply geopolitical equation based on India and China getting oil from Russia. But the timeline does not really fit the reasoning. By the way Saudis have actually increased the price at which they sell oil in Asia which would justify any Asian country moving to Russia to get oil. With Russia’s current economic standing it remains to be seen if they would be able to deliver. Overall, thoughtful analysis but I think it missed the mark by quite a bit.

    • Jess Miranda

      Banwasi, I like the way you have put up things. I tried to explain in my comment today.. Hope people are able to know what’s going on in real world

    • Jess Miranda

      Banwasi, I like the way you have put up things. I tried to explain in my comment today. Hope people are able to know what’s going on in real world than falling for the non sense explanation of author.
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Manas Singh

    this chutzpa.. of modi bhakts is real interesting to note! even if he shits these bhakts will say his is the unique shit ‘he shits rose petals’..! grow up….Mr. pseudo economist……. sheer luck of this gov….

    • Sunny Yadav

      You mean to say Congress has never been lucky in last 15 years..!! wow.. He is really working hard to get things better for our country.
      I am not sure if this article have true facts or not, I don’t support any party all are same on one or other aspect. But yes Modi is the person who is working very hard for making things better for India. He has a great visionery thoughts..
      “Make in India” Just imagine how much this will increase employment in India.
      “Swatch Bharat” This program has been initiated a lot of times earlier, was there this much impact earlier? This campaign has been continued at huge level.
      “Pakistan” Earlier governments has just been in process to get peace with them. Modi straight away ordered reply them in the way they understand.
      Also, He refused to talk to them as pakistan betrays all times.
      Also conveyed in UN that no need to talk to US for peace, it is a matter of 2 countries if you want to make peace come for bilateral talks with results should be visible that you want peace.

      Any many more….

      • Jess Miranda

        Sunny Yadav, I wish if you would have loved your country more than Modi. That would have helped you realize and learn more on what’s going on than just blindly believing this author who talks non sense. More than reading analyzing is also very important. Here is my analysis for you if it helps.. [Commented Truncated for Spam Protection. This comment is being consolidated]

    • MuslimsWithModi

      Why dont you read the links given and do a research then put your facts here to counter the facts given above.

      You filthy rodent wont do this .. because you are Apptard (Congressi P|G)

    • Jess Miranda

      Yes Manas, you and I are saying what a dumb article is written by writer Krishna S Santhosh. His words have proved his Modi Bhakthi than Desh Bhakthi. I have tried to help him and his followers to open their eyes. If my article is kept and helps them I am happy. If not, then its their loss.. [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Height of Bhakti, blind-bhakti 😛

    • MuslimsWithModi

      You ppl are dumb.. You have closed your eyes because of MODI FOBIA.

      • Jess Miranda

        MuslimsWithModi Everybody knows who is dumb and who has Modifobia with your blindness.. You got to wake up and start reading on what’s happening around the world. Think like a logical Indian than writing like a dumb. Your words express your knowledge. Sorry that India has dumb educated like you..

      • Jess Miranda

        Yea, I can make out how dumb you are “Muslimswithmodi”. Its just not enough to create a fake account but learn to analyse to the real facts around you and try to accept if you are wrong. Than just condemning everyone who talks against your uncle Modi..
        [Commented Truncated for Spam Protection. This comment is being consolidated]

    • Jess Miranda

      I agree Musthafa and stand with you. That’s why I tried to explain these dumbs how wrong they are with my analysis.. I hope it helps them
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • jeya

    Anything good in the world is Modi effect…….anything bad is Congress misrule. . . Wonderful logic we Indians have. . . .Crude prices have come crashing down. . .Yet, the government is unable to lower the price of petrol than when crude was at 138$ per barrel.

    • Pavan

      Ya dey could ve reduced to far better price…. but who’s gone improve our defence if central govt doesn’t ve money ??? If congress had nt ruined our defence nw petrol price would ve been at 40s

      • navas

        foolishness has no limits??
        it is the oil companies who dictate the price in india,not government.and to say all these money is going to defense without even any major change in defense strategy,you must be on some strong stuff..

        • MuslimsWithModi

          Read this rodent!!

          1) Narendra Modi govt clears defence projects worth Rs 80,000cr (http://timesofindia.indiatimes.com/india/Narendra-Modi-govt-clears-defence-projects-worth-Rs-80000cr/articleshow/44935990.cms)

          2) Indian firms tool up for defence orders on Modi’s ‘buy India’ pledge (http://in.reuters.com/article/2014/08/21/india-defence-idINKBN0GL02P20140821)

          • visualsan

            Extremely heartened to see the title “MuslimsWithModi” and very happy to see you support him. If all Indian muslims reciprocate these nationalist feelings instead of siding with AAP/Congress for the sake of their religion – India can develop very fast… Thanks mate…. Your post made my day today 🙂

          • navas

            I dont think you have anything in your brain.so I m not going to argue,first try to understand the difference between decide and dictate..
            and govt spending money in defense is not something new,and this is not a fish market,hike the tax and send it to border. something that needs to be done in government level should have a plan that started long back,which won’t be based on an unpredictable source of income..and devolopment need money so you increase tax..lol,so why you people hated congress qhich was doing the same thing..what has changed??enlighten me …

        • Jess Miranda

          What an interesting analysis by Modi’s Andh Bhakth? I think even a kid of 8th grade
          knows better than the writer about how the crude oil price crashed. Dear Mr. Writer you have made yourself to
          look like a fool by writing this article. Kindly read my below analysis for the
          reason of Oil Crash Globally. Simply don’t say “Modi is responsible for
          the oil crash globally, when he has done nothing to crash the oil price..
          [Commented Truncated for Spam Protection. This comment is being consolidated]

        • rangeela rasool

          i read somewhere that govt is raising duty on petro-products to partially recover what revenue is lost due to falling prices and to finance highway development .Now read ur comment keeping urself in context.

          • navas

            for real dude?? you read somewhere something and now you want others to reply on that ..well , I rest my case hombre..

          • Hidayat Rizvi

            Burnol is flying off shelves. Yes ofcourse, it will all come along and settle down as it should be. Bottomline is that communal forces should be kept out of UP like in Bihar. Bharatiya Danga Party wants to communalize UP polls by instigating Danga and then fetch communally charged votes had already set lose Dangais sangeet som, Saksi Minaj, Vinay katya, dhongi adityanath etc more star Dangais to follow. Castey Is that true?

          • kss

            One word to you @disqus_isnc5e3B48:disqus … Grow beyond your religion.. Nation is much bigger than your religion.. Your hatred for BJP stems from your blind adherence to your ideology… Nothing else…

      • Jess Miranda

        Pavan your worry for nation and bhakthi for Modi scares me. Because your Modi Bhakthi sounds more worst than Dhesh Bhakti.. Read this then you would know the fact
        [Commented Truncated for Spam Protection. This comment is being consolidated]

    • Nibedita Bal

      Dear nobody knew till when the prices will be at this level. See now the price is revising. That was the reason the govt lower the price and increased the duty on it. So that the money collected can be used now.

    • MuslimsWithModi

      This is true govt is saving huge money from crude oil down prices.. but this is also true that we can not use the crude as it is it need to transport to refinery where Petrol and Diesel LPG etc and then it again transported (Trucks & Trains) to depots up to storage and Oil pump .. pump owners credit is also added.

      So this is cycle and balance which decide the price in market.

      And the govt saving money for further development … It need money.
      After we have less Gas, Oil, Vegetable and 2500000 income bar…. Good Days are Came….

      • Jess Miranda

        Wow, amazing, what a love for Modi than for the country MuslimswithModi. Yea the words express your dumbness. So I decided to spend some time to write the analysis below if it helps you open up your eyes. I have no hopes but tried here. If helps good for you, if not , not my loss… Go on read [Commented Truncated for Spam Protection. This comment is being consolidated]

        • MuslimsWithModi

          What wrong I’ve written above… “Kya OIL refine and transport nhi hota.. kya Pump walo ka commision nhi hota… wo sab paisa kaha se ayega…”

          Jess just kill yourself… you are spare nut..

          • Jess Miranda

            Kyaa analysis yaar theraa..jaaa there brain freezer se nikhaal. Atleast now on start using it. It wont do any good for you. Good luck !!

    • Jess Miranda

      The article above is the result of Modi Andh Bhakth which is totally false and misleading.. Read it here the real facts put by me
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Telveer

    What a dumb article!

    • Jess Miranda

      I agree with you for the below reasons

      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Sreeni Polina

    looks interesting , but will not fully agree with author views

    • Jess Miranda

      There is nothing to agree with Author. Because its full of crap. I have explained it better why Author is wrong in my above comment today..

    • Jess Miranda

      There is nothing to agree with Author. Because its full of crap. I have explained it better why?
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • ashish

    so why am i still paying such a high price for petrol? Just 2 rs. reduction from previous price does not say much abt the initiative. In a market where the fuel prices are de-regulated, shouldnt the benefit (almost 40%) pass on the customers?

    • visualsan

      Prices have not reduced just Rs.2 It is much more… And the previous government has left the nation in disarray… The finance minsiter decided to increase excise duty on petrol to add revenue to the government… It will be that way until march when Government is able to mop up money for welfare schemes.. I used to pay Rs.75+ before. (during May ’14) and now am paying just Rs.61+… The government is also adding its revenues.. I guess it is a smart move by Modi..

    • Jess Miranda

      Ashish, as you read Visualsan’s comment, do read mine and please comment below what makes sense to you.. Because we have many dumbs like the author of the article above and visualsan who talks nonsense around us.
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Mahesh Kumar

    good logic!

    • Jess Miranda

      Yea in what way? Try to explain your logic than just saying ” Good logic”.

      Here I call it as ” Wrong Logic”.[Commented Truncated for Spam Protection. This comment is being consolidated]

  • CK

    What a load of crap…. Lol…Made my day

  • Ashish

    I lost the author here “everyone agrees that India and China are the largest consumers of Oil”. US consumes more oil than anyone else.US consumption= 2 * CHINA = 5* INDIA. all i can say is NAMO NAMO NAMO rofl….

    • Jess Miranda

      I agree buddy.. This article is totally misleading in real. When I read the comments supporting the author makes me feel how people could be so dumb..

      • Mesquite Ice

        In my opinion Saudi is driving oil down just to punish Russia. It is a diplomatic fight. Is it a coincidence that India is trying to source oil from russia. If you think so it is ok. After all lot of people like you think that the Bumble Bee is able to fly because of luck as it does not fall within the aerodynamic scheme of things.

        The point is whether it is true that Modi really entered into multi billon dollare deals to substitute Middle east oil with russian oil. If this is so then the authors hypothesis holds some value.

        The really sad thing is that people like you who think that you are the most knowledgeable person in the world. Talk fact and talk numbers. US may be biggest consumer but think middle east. Most of US refineries are programmed to run on heavy oil not the middle east types. Also Just because US is the biggest consumer does not mean other customers are of no consequence.

        The author only hypothesyses whether Modi’s move may have been instrumental in making the Saudis insecure. Why get emotional and find fault with others. Every body is entitled to their point of view.

    • Jess Miranda

      Ashish, thats nothing but the portrait of Author’s dumbness… I have tried to explain him how wrong he is in his article. Hope this helps him and Modi’s followers to open up their eyes and know the reality
      [Commented Truncated for Spam Protection. This comment is being consolidated]

      • Ashish

        well i am not an an expert but how i see it is……prices have crashed cause the production hasn’t been reduced and inventories have been building up worldwide… higher prices of oil favour shale extraction, making it profitable…hence more competition. If cost effective tech to extract oil from shale is developed. OPEC is in trouble. What will they export …Dates ???? Russia is very keep to sell oil to indo-china cause low prices hit it the hardest. If it can find new buyers ( its more complicated than it sounds , a refinery has to be tuned to the new flavour of crude ) it can use the leverage to maintain pressure over europe and keep UKRAINE crisis manageable.Russia rolled out heavy discounts to sell natural gas to china. There more to crude than india. India is nowhere in this fluid black power game. But price reduction is good news for economy since it makes up substantial amount of out import bill.

        • Jess Miranda

          I agree with your views. By sharing information, we learn lot from each other.. Thank you for your views buddy

  • Supported But not Blind one

    Good Analysis , the only problem is that prices started falling from June and all the events listed is Oct Nov Dec etc..

    • visualsan

      The author mentioned that “Ever since Modi was elected the prices started coming down”.. http://www.brookings.edu/blogs/up-front/posts/2014/05/15-my-conversation-with-narendra-modi – check this out – Modi had announced much earlier (during May) that India and BRICS would / should reduce dependency on Arab / Iran for oil …

      • DBR

        Ya.. and because of this announcement, arabs got afraid and started to reduce price.. Lol…

        • Jess Miranda

          Yea Arabs are so scared, they are thinking of leaving their oil shells for Modi to handle it now.. Poor Arabs.. Chal Be, instead of talking non sense, read whats happening in the world. Know the fact and then come to conclusion.. Then worry about Arabs who are much much richer than you are..
          [Commented Truncated for Spam Protection. This comment is being consolidated]

      • Jess Miranda

        This is the sadness. Writers become Andh Bhakths, leading to praise them and misguide the public hiding the real information. So I spent little time in bringing the facts of reality to educate them. If helps good for them if not, their loss
        [Commented Truncated for Spam Protection. This comment is being consolidated]

    • Jess Miranda

      Heights of Andh bhakth is portrayed here by the author. I have tried to put my analysis as per the real facts above.. I hope it helps to open the eyes of readers who praise Modi

  • Nikhil

    I wish all of this is true…. but it is hard to believe. If this all was true, Modi himself would have taken credit in Delhi elections, instead of throwing “Lucky” stuff.

    But, I do believe he may have initiated some talks and have taken actions which are in India’s interest. He is definitely the best PM our generation has seen.

    • Jess Miranda

      This article is not true. I have mentioned why in my comment today… Go through

    • Jess Miranda

      Nikhil I wish your wishes would have been true. But unfortunately the article written by Santhosh is totally false. Here is why, I have spent time in writing it thinking the man and his followers could open their eyes.
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Dileep Kumar

    Chalo andh bhakti hi sahi per hame or hamare desh ko faida ho raha hai or ham khush hai jab ham 82 per Leter pay karte the tab dard bahut hota tha per aj ham 63 pay kar rahe hai i am happy……..ha per kuch logo ko mirchi lag rahi hai to lagne do hame kya modi ji ap gr8 ho ham kal bhi apke sath the aj bhi hai

    • Jess Miranda

      Go head and read below then you would know your andh bhakthi has lead you to forget the reality.
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Sunny Yadav

    Some people think Modi and his govt has been lucky or he is not doing anything.
    You mean to say Congress has never been lucky in last 15 years..!! wow.. He is really working hard to get things better for our country.
    I am not sure if this article have true facts or not, I don’t support any party all are same on one or other aspect. But yes Modi is the person who is working very hard for making things better for India. He has a great visionery thoughts..
    “Make in India” Just imagine how much this will increase employment in India.
    “Swatch Bharat” This program has been initiated a lot of times earlier, was there this much impact earlier? This campaign has been continued at huge level.

    “Pakistan” Earlier governments has just been in process to get peace with them. Modi straight away ordered reply them in the way they understand.

    Also, He refused to talk to them as pakistan betrays all times.

    Also conveyed in UN that no need to talk to US for peace, it is a matter of 2 countries if you want to make peace come for bilateral talks with results should be visible that you want peace.

    Any many more….

  • shakeel

    All good heppening is due to NM that not true bcz its all planned by Cong.. he is just following the landmarks may be early

    • visualsan

      Congress destroyed india by pampering Minorities… Congress did nothing…. Congress planned to destroy this nation but thank God, Modi became PM…

    • Jess Miranda

      O boy, please read and understand what is happening around the world than believing this dumb author of the article

  • RV

    I dont know Modi’s role but YOU probably are trying too hard to glorify him. Didn’t know BJPigs go this low.

    • visualsan

      When AAPTards like you glorify an antinational element like Kejriwal it is OK to glorify a visionary and a patriot… Read the article in an unbiased way and feel proud that an indian is dictating the world unlike a minority supporter like kejriwal

      • RV

        hahah trademark of bhaktards is that they dont know what they speak but they speak loud. you call modi a patriot whose parent org RSS is hellbent on erecting godse statue. hahah. and visionary how? ‘coz he talks about cleanliness. all parent teache their children about it, may be yours didn’t. and well, i m not apptard or khangressi, i would say delhi people are not that dumb that they chose kejriwal. how is a person who talks about ending corruption is anti-national? oh, because that means modi’s secret benefactor ambani is gonna be in trouble? you dumbturds will remain sedated until you are robbed off every good things from this nation…

        • Jess Miranda

          RV, in simple way, Modi lovers dont even realise their house is getting robbed day by day. They wont care how their tax money is used on Modi’s 10 Lakh Suit. They call honest leader like Kejerval as anti national because that man stood against the robbers. Unfortunately, that hurts Modi’s thugs like these above commentators. It is unfortunate that our educated Indian fools dream to have India to be like US, UK or any developed countries, but sad part is they still want to be in pit by letting politicians loot our country. In the history Indians had no choice choosing the same old politicians. So they blamed the system. When a new leader emerges to fix the existing system the same people who blamed the system has problems now. So they name them as anti nationals. That’s the tragedy of India. Many Indians brain is kept in freezer to freeze. That’s why Modi, Amit Shah, Congress keeps on looting everyone house as we Indians give them opportunity to loot us. There is no point in talking to these tards. No matter what happens they still want to be in pit just like pigs. Pigs never like to live in mansions, do they ? These are just like the pigs

      • Jess Miranda

        You are 100% educated food visualsan. Sad that many dumbs exist in India who can’t even use their brain to understand what’s going on in real around. So I decided to spend some time in writing my analysis to educate you thinking if it helps. If it helps you, good for you, if not your loss.. Go head read my analysis..
        [Commented Truncated for Spam Protection. This comment is being consolidated]

    • Jess Miranda

      Thats called as dirty politics. Taking name for somebody else’s work and blaming others for their fault. I have put my facts with figures how the oil price dropped globally with no role of Modi.. I hope Modi Bhakths able to digest it..

  • Alok Shende

    It seems to be like that Mr. Modi played cards at right time with right choice. Yes we can say from the day one he were more intrested to restructure of foreign policy. May be it is a result of that. But major impact came from reduction oil demand of America. Still this looks like a story what author wrote need some facts and data fir suppor.

    • Jess Miranda

      Alok the article itself makes no sense to have facts and figures in real. Tell me how a 3% global buyer can bring the oil prices down .. Logic thinking is necessary than us reading and believing what one says.. If Modi was responsible for oil price drop, today it would have been in world news.. The article above is nothing but crap..

  • Alan Melekalikaleth

    He never said about the shale gas..what a dumb article

    • visualsan

      “US devised..shale oil..” read fully and then comment

    • Jess Miranda

      This article is meant for dumbs who dont know the real fact about what’s happening around the world. This is purely for those who thinks ” Hail Modi”. I have tried to put up my opinion above on the real facts of dropping of oil price. Hope Modi Bhakths and the author can digest it

  • Citizen

    all who are commenting here… does anyone have full knowledge on how oil payments and pricing works…and do you really know from where exactly oil is sourced from to INDIA and at what percentage….. Nobody have picture… I am not defending this article .. but i am trying to say their can be good but your comments make others think in negative way which may effect the progress…. you comment on MMS when congress is there and MODI when BJP… now Delhi people started on kejriwal. Certain business deals will not be made public for many reasons… enjoy your time and i am sure you will have everything in affordable price… Good Day!

    • Jess Miranda

      Since I find more dumbs who doesn’t realise the real reasons for oil crash, I decided to put my analysis on educating them with the hope if it could help them. If helps good for them, if not its their loss. Here is how it goes..
      [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Rajeshwar Dahiya

    सही विश्लेषण किया है, तेल का भाव कम होने में कुछ योगदान तो मोदी जी की इस पालिसी से जरूर पड़ा होगा।

    • Jess Miranda

      Come to the reality buddy than praising !! Read above my article .. I have mentioned you the reality if you have courage to read

    • Rajeshwar Dahiya

      कुछ लोग ऊपर लिखत आर्टिकल के डाटा को पता नहीं क्यों झूठा कह रहे हैं यह देखिये एक स्क्रीन शॉट

      • Jess Miranda

        Do the math buddy, then you would know instead of just believing on what someone says .
        India
        imported 2527 thousand barrels per day where in total imports over the world is 33171 thousand barrels

        per day as per the link here which you have given above

        http://www.eia.gov/countries/index.cfm?topL=imp. If you calculate based

        on percentage wise India is 7.6% buyer. Now being 7.6% buyer you explain

        me how India would be responsible for oil price cash?

        My theory of Supply and demand still holds good as per the data in the above

        link. The total world’s oil production is 70464 thousands barrels per

        day and the consumption is 62767 thousands barrels per day where in the

        world has 7697 thousand barrels excess everyday. What else would happen

        when you have more supply than demand, the prices would obviously crash?

        So dont get misguided, instead help yourself finding more information on anything you read then get convinced if makes sense. God has given us so called ” brain to use, not to keep it in freezer”

  • Sachin Bangalore

    Interesting Analysis.. However we also wanted to know what USA did to become self reliance on oil production?

    • Jess Miranda

      Just that article is long enough to cover the page. But nothing is true in real. I have explained above why today..

  • Jess Miranda

    What an interesting analysis by Modi’s Andh Bhakth? I think even a kid of 8th grade
    knows better than the writer about how the crude oil price crashed. Dear Mr. Writer you have made yourself to
    look like a fool by writing this article. Kindly read my below analysis for the
    reason of Oil Crash Globally. Simply don’t say “Modi is responsible for
    the oil crash globally, when he has done nothing to crash the oil price..

    First of all one has to understand India is just 4% consumer of oil worldwide. In
    this India imports only 3% oil which 75% of India’s consumption and 25% we have
    in India in our reserves. Logically by being 3% buyer world wide, there is no
    way Modi could make wonders in the world for the oil to crash globally. Modi is
    lucky to happen oil crash in his regn which has resulted him to save $50
    Billion per year.

    The simple reason for the oil drop is the economic concept of Supply and demand
    theory. At present the supply of oil has increased than the consumption which
    has resulted in drastic oil price fall globally.

    As per this article , the writer explains that oil crash took place because Modi decided to buy oil from Russia
    instead of Gulf. Basically BRICS in the article as far as I understand BRICS
    summit was mainly to trade oil.

    Here why BRICS created ( Brazil, Russia, India, China and South Africa) :

    BRICS members are basically developing or newly industrialized countries,
    distinguished by the large growing economies and significant influence on regional and global
    affairs. They are formed based on number of population in together 3 billion people which is approximately 40% of
    world’s population. Economists are interested in BRICS because they can control the economy in future. But as of now they are not strong enough yet. If you research further or google further, BRICS had nothing to do with oil price drop globally.

    Now, defending my statement that Modi’s deal with Russia on oil purchase had no effect on price drop:

    Note, Russia depends 70% solely on the revenues generated from the export of oil and
    gas. Russia looses about $2 billion in revenues for every dollar fall in oil
    price. Its a big hit for Russia’s economy and as of now Russia has enough
    economical problems to deal with. They wouldn’t want to cause further problems
    for themselves. If Modi becomes the reason for oil drop, Russia would never
    have business with India because every dollar fall on oil effects big on Russia. Everyone wants to sell their product
    for higher price, so does, Russia’s best interest is to sell their oil for
    higher price to India as well. I don’t think Russia will agree to sell their
    oil for 50% to 80% of the market price to India.

    To understand the story better, we are going back to mid of -2000s.
    Oil prices were rising sharply because global demand was surging — especially
    in China — and there simply wasn’t enough oil production to keep up. That led
    to large price spikes, and oil hovered around $100 per barrel between 2011 and
    2014.

    Yet as oil prices increased, many energy companies found it profitable to begin extracting
    oil from difficult-to-drill places. In the United States, companies began using
    techniques like fracking and horizontal drilling to extract oil from shale formations in North Dakota and
    Texas. In Canada, companies were heating Alberta’s gooey oil sands with steam
    to extract usable crude

    By late 2014, world oil supply was on track to rise much higher than actual demand. A lot of unused oil was simply being
    stockpiled away for later. So, in September, prices started falling sharply.

    This led to a boom in “unconventional” oil production. The US alone has added 4 million extra barrels of crude oil per day to the global market since 200, where as global crude production isabout 75 million barrels per day, so this is significant. But up until recently US oil boom had very little effect on global prices because at the exact same time, geopolitical conflicts were flaring up in key oil regions like a civil war in Libiya, ISIS threat on Iraq which took off more than 3 million barrels of oil per day from the market.

    By mid of 2014, those outages and conflicts were no longer quite as important. As the production in the United States and Canada was still rising fast which in turn the world supply of oil kept growing.

    As prices were falling OPEC was expected to see if they were trying to cut back on production to control the prices or to move the prices back up. But at its meeting in last Novemember, OPEC did nothing. Saudi Arabia didn’t give up on market share as theyknew what happened to them in 1980 when they try to cut on production loosing their market share. So this time they decided to keep pumping oil which lead for further free fall in oil price.

    The significant slow down in China, and Germany lead the oil consumption to weaker and even inmany of Asian countries as well. Though US was the largest consumer of oil the introduction more efficient gasoline cars lead the consumption to fall. In the
    same time Iran and Indonessia was cutting back on subsidies for fuel users. All these caused the oil to drop from June
    2014 peak $115 per barrel to $80 per barrel by mid November 2014.

    On November 27, OPEC members in its meeting in Vienna, Saudi Arbia clearly said, they are not going to cut back on production
    like I mentioned above, they didn’t want to loose their market share. So since OPEC didn’t agree on cutting the production lead the oil price to fall from $80 to $70 per barrel and it kept falling down to $50 by Jan.

    Now, OPEC is hoping for the prices to stay stabilize eventually because some of the US producers could go unprofitable
    and out of business as oil prices drop because eventually for US it would be expensive to drill oil shale formation in places
    like Texas and North Dakota. The US Energy Information Administration still expects that overall US oil production will grow another
    700,000 barrels per day in 2015.

    The oil price drop is a biggest hit for Russia, Iran, Venezuela, Saudi Arabia. But Saudi Arabia has $750 billion which it will use finance deficits. So as of now they are not worried even if the oil crashes to $20 per barrel.

    The consumers like US, have positive effect on oil drop as consumers have $550 per month to spend more than in 2014 assuming prices stay low, which is good for US economy.

    The oil price drop has benefited in huge favor. India is able to save $50 Billions in importing oil. This should help the Indian economy to grow drastically well and India’s infrastructure and other growth projects should impreove. So if economy moves up, there would be no effect of Modi power here because we are saving $50 billion per year.

    According to officials at India’s oil ministry, every dollar drop in oil prices helps reduce the government’s burden of subsidy payments by $1 billion. Mr. Chehab said the cost of oil is one factor that will help India’s GDP growth increase to around 6.3% next fiscal year from an estimated 5.6% for the year ended in March. ( Ref : http://www.wsj.com/articles/falling-oil-spells-boon-for-most-of-asias-economies-1420398456
    )

    India as beneficiary of falling prices, not only lower the import bill but also help save foreign exchange. All this should
    effect for India to grow its GDP .

    So please stop believing with above author that Modi is responsible for global oil price drop. Logically, Modi can no way
    responsible for oil price drop given the condition him being 3% buyer and unless there is more supply than demand.
    Instead of praising Modi for nothing, make him to work to increase the GDP per capita to equal to China’s. Right now our GDP per capita is roughly around $1600 and China’s $8000.

    Sources : These
    are the below sources for my comment above.

    http://www.bbc.com/news/business-29643612

    http://www.vox.com/2014/12/16/7401705/oil-prices-falling

    http://www.breitbart.com/…/iranian-president-rouhani…/

  • Guest

    Wow !!! Amazing. The real facts and my analysis is been removed by Neonationalist..

  • Jess Miranda

    What an interesting analysis by Modi’s Andh Bhakth? I think even a kid of 8th grade
    knows better than the writer about how the crude oil price crashed. Dear Mr. Writer you have made yourself to
    look like a fool by writing this article. Kindly read my below analysis for the
    reason of Oil Crash Globally. Simply don’t say “Modi is responsible for
    the oil crash globally, when he has done nothing to crash the oil price..

    [Commented Truncated for Spam Protection. This comment is being consolidated]

  • Jess Miranda

    What an interesting analysis by Modi’s Andh Bhakth? I think even a kid of 8th grade
    knows better than the writer about how the crude oil price crashed. Dear Mr. Writer you have made yourself to
    look like a fool by writing this article. Kindly read my below analysis for the
    reason of Oil Crash Globally. Simply don’t say “Modi is responsible for
    the oil crash globally, when he has done nothing to crash the oil price..
    [Commented Truncated for Spam Protection. This comment is being consolidated]

  • visualsan

    Who is this Jess Miranda? And why is he getting so worked up? Virtually spammed all of the comment with a lengthy post that could have been made into a separate comment. I know that NeoNationalist supports free speech and will not delete comments unless it is spam… Request the site admin to remove all the replies and make it into a single comment so that it can be discussed…. Jess Miranda : you seem sooooo frustrated at Modi’s rise and India’s rise… please learn to digest the facts.. I will refute your comments point by point…but do you think it is fun to reply to ALL comments with the same post ? your frustration shows… we believe in Modi and we believe he is capable of causing ripples internationally… if you do not believe – walk down the streets of India and China (i did) and take to **common** people there about Modi – you will understand why he demands respect… By inviting obama as cheif guest and by strengthening india-US ties after touring that country, China seems worried – and every newspaper published this news… China has come down from their birds nest and are interested to work with India and now are batting for UN permanent seat for India – thanks to Modi (Even chinese and usa admit their admiration for Modi)… we are with Modi and we love him.. do you have a problem with that ?

    • Jess Miranda

      Visualsan, I am India’s Desh Bhakth just like you are. The only
      difference is I am not in love with any politicians but I stand for
      truth. I have nothing against Modi in person. All I care about him is
      moving my country forward, running the administration without corruption
      and keeping up the promises he made during election. Now, given said,
      he has enough time given by the citizens. So I would still give him that
      time. If he does is job well am happy just like every citizen in India.

      My intention was not to spam anyone. When I put my comment
      after half an hour when I saw, I couldn’t see it. I thought it was
      deleted. So I posted on everybody’s “reply” wall. I commented on this
      article based on the theory didn’t make any sense to me. However, its
      your wish to accept or reject. Now, this morning when I woke up I saw
      someone posting my data on India’s oil import was wrong. Yes my figure
      of 3% oil buyer was wrong because I calculated based on 2011 data here
      is the link
      https://econographics.wordpress.com/2012/11/22/oil-consumption-as-percentage-of-world-total-2011/

      So
      somebody in the morning gave me the figures of 2013 so even based on
      that India being 7.6% explain me how India could bring the oil price
      down globally? Note as per 2013 figures, the total world’s oil
      consumption is 62767 thousand barrels per day, and the total world’s
      production is 70464 thousand barrels/day where in the world has 7697
      thousand barrels per day. So if you look logically its the supply and
      demand theory holds good here, not Modi’s role.

      All I tried to
      do was share right information. So its left to you to consider or leave.
      I have nothing against you or anyone here. God Bless You

      • visualsan

        When you are trying to thrust your thoughts with wrong data, why are you not accepting other’s views ? Why do you hold your view as supreme ?
        Which makes me think that You are an just an AAPTard… Giving wrong figures and then trying to convince everyone is exactly what AAPtards do… India started BRICS Development bank – see the link author has given… It was Modi’s idea which was accepted (see the link in the article)…. This was a direct threat to Dollar rates… Next it was Modi who proceeded with Iran boldly (the previous govt just kept talking) and Modi insisted payment in INR not USD… Modi diversified India’s oil buying and included Russia as the main partner pushing down importance of Arab… China followed suit (as discussed in the BRICS meet)…. The combined India + China consumption is more than USA… USA discovered Shale resources and extraction is happening ONLY in two states… Read the article with open mind and then comment based on the article instead of thrusting your wrong views…

  • Arun Nimbalkar

    dumb and foolish piece written

  • visualsan

    I know you guys wont delete the comments, but I request you to consolidate Jess Miranda’s comment everywhere into one single comment so that people can discuss on that… Site Admins – please do it…

  • SuchindranathAiyer

    Au
    Contraire. The Oil Price reduction was wrought primarily by Saudi
    Arabia in concert with the US. The Saudi motivation was to bring Russia
    to its knees over Syria and the US motivation was more wide extending to
    its interest in South America and elsewhere. (NATO’s regime change in
    Ukraine and push Eastwards was also precipitated by Saudi Arabia to push
    Russia who had insulted both Obama openly in the NY Times and Prince Bandar
    (the Saudi monkey in charge of Intelligence) by telling him that he
    would bomb the Q’aba if the Moslems tried a Beslan at Sochi when Bandar
    called on him after the NYT article to try and bribe him to toe the US-Saudi
    line on Syria. The US is a Saudi mercenary and was distracted to Iraq
    instead of Pakistan after 9/11 Afghanistan because a modern state
    (which Iraq was) with state of the art medical and educational services,
    discos, bars, and thriving communities of Jews, Christians, Yazidis and
    other non Sunni-Wahabi Moslems in such close proximity was anathema to
    Saudi Arabia. Syria was an extension of this. The Saudi have been in
    bed not only with the Bushes, but the White Hice since Bush Senior was
    CIA Director. They got Clinton and Albright to bomb Belgrade for 84 days
    to give Islam its first ethically cleansed enclave in Europe after
    1489. But while the earlier US Presidents did it purely for Petro
    Dollars in the pockets of their cronies and themselves, Hussein Barrack
    Obama is expanding the depth and width of the Islamic foot print for
    religious reasons. (He is a Moslem).

  • Sudheeran Ks

    this analysis can not be 100% correct..the crash in oil price is followed by US & EU sanctions against Russia following the Ukrain crisis..they want to wean Russian economy & destroy them..so the better way to reduce the oil price & decrease its revenue from oil, as its worlds major exporter of oil on par with saudi arabia..

    • Keshav

      “While it would be an exaggeration to put all the “blame” on Modi” -> Second paragraph.. The whole article was about the fact that Modi had a role too….

  • Nick B

    NAMO NAMO…THIS MODI WILL MAKE INFIA RISE AGAINST THE ODDS…IRAN ALSO AGREED TO SETTLE OIL EXPORTS IN RUPEES.

  • Jacob Peters

    Thank you for this insightful article. Time is long past to crush these arabs economically. Then we can finally deal with the muslim problem that is plaguing the West and India.

  • Abhijit Raorane

    Dear Krishna S Santosh, the point you are driving is so very false. Please learn about the history of petro-dollar & its existence and why dollars have been made mandatory to be accepted as a preferred currency throughout the world for the trade of Oil. Petro dollar has proved to be very efficient to U.S as Oil producing countries not only agreed to sell their oil in exchange of U.S dollars but they also agreed to invest their profits back into U.S economy by investing in safety of U.S bonds. U.S receives a double whammy. Extraordinary privilege! Isn’t it! No country in the world has that privilege.

    Now learn, why U.S had more than 45 military bases across middle eastern region of the world and god knows how many more they have throughout the world to protect (threaten) these oil producing nations. In 2002, Iraq went against the system of petro dollar. It wanted to do oil trade in euros. Iraq, essentially was charged for holding weapons of mass destruction. The first thing U.S did after taking control of Iraq was to put the petro-dollar system in place. Iran, Iraq, Syria, N Korea, Syria, Libya, Venezuela all had decided to go against this system. These are the exact same countries that are termed as ‘Axis of Evil’ by President Bush and now you know whats happening in these countries.Iran is still protected as it has backing of Russia, China & India. U.S will protect Petro-dollar to the core because if this system fails it will have devastating repercussions on its economy.

    Just imagine what will happen if U.S treasury is printing dollars and other countries suddenly stop trading Oil in dollars. The repercussions would be that U.S would be stashed with huge surplus
    of U.S dollars. There would be no demand for US dollars in the international market & no demand for U.S debt. This will result in hyper inflation causing too many dollars chasing a single commodity.
    Interest rates will sky rocket & the economy will crash. This economic devastation will be the
    result of breakdown of Petro dollar system. Hence U.S will fight till the end to protect it and that is why do we see so many military bases around the world?

    As far as India’s role is concerned…look at it from this angle. India’s primary source of energy is oil. A nation of 1.3 bllion can’t rely on one source alone. Even if we are dependent on it we should get the oil cheap. Hence, instead of buying in dollars we buy in Rupees. Our Current A/c deficit has come down drastically. All nations of the world should do this. Buy oil in their own currencies to counter dollar. enough of this fiat currecny feeding like a virus on other nations…I hope you got the big picture… I do not agree with your statement “modi’s role in crude oil crash” and now after reading this gyan you too should start disagreeing.

  • What an analysis….?…..it seems we in the world deserved some Modi medicine, some Chinese medicine and some Putin medicine to show the Manhattan Jewish commodity traders their freedom of expression their place….!!!!