POLITICS OF PETROLEUM PRODUCTS

POLITICS OF PETROLEUM PRODUCTS.

One barrel of crude-oil weighs 42 gallons(140 Kilograms)  The Recovery of petrol by refining the crude into various grade of gas is about 21 gallons ( 69. litters) in one barrel of crude-oil. There are other bye-products like napthalene, 

bitumen tar asphalt. They are taken into other usage into highway construction and various other usages. Nothing is lost except evaporation-loss.

Prosperity and Progress of Oil Producing countries is due to its domestic finds of crude oil in their respective oil producing regions.

China has turned out to be an important oil producing country in the world market. Russia 

had lagged behind in its oil production after l992. The soaring oil prices has helped it to old high

standard in Russia from 1998 and onwards. Olden days of prosperity had returned in Russia with high crude prices. 

It is only, unfortunate, unlucky, India, that does not see golden days of its glory. History will 

never pardon the present day lot for mismanagement.

It is no idle threat. Hybrid cars, electric cars solar cars usage has already set in. Days are not far off when the dependence on Oil Producing countries will be negligible.The price of one barrel of crude oil will hit US $ 30 to 40 by the end of year 2015.

The present price of $ 50 a barrel is felt awesome by many.  This is not the beginning.  More is yet to come.  The UNO and its Secretary Mr. Moon has to take initiative to tame the oil producing countries. Here lies the test of diplomacy.         Is there no way out to snub their nose?  They have virtually blackmailed the world nations for the last many years.