“Oil is expected to lead the price recovery touching $125-$175 per barrel in the 12 months between July 2009 and July 2010 and then probably decline. The more basic short term reason given for ‘catch-up’ growth of commodity prices is that commodity price growth has remained far behind paper asset price appreciation at least until 2003....”

The Case against Government Intervention in Energy Markets

"Clearly, energy imports require an increase in world trade and investment. Yet, no public policies are needed to produce the postulated increases in trade and investment. The claim regarding domestic demand and supply points crosses the line between describing what might happen in the market place and making indefensible policy suggestions..."

OIL & GAS

• DGH challenges Hardy's KG gas claim
• New gas find may put India among top 15
• Diesel ceases to earn profit for state oil firms
• Ratnagiri Gas inks 5-year deal with RIL
• Oil refiners upbeat on free fuel pricing
• World can cope with oil price at $75-80: Saudi Oil Minister

POWER

• Further delay feared in Kudankulam project
• CIL to sign FSAs with over 70 power stations soon
• Divestment of PSU power cos on cards
• FY09 power capacity addition 68 pc below target
• U.K. lags behind U.S., India for renewable energy