19 September 2019

India runs on fossil fuel (Petroleum) – Cruel Oil crisis created by Iran worrisome, 20% prices up



India runs on fossil fuel (Petroleum) – Cruel Oil crisis created by Iran worrisome, 20% prices up

India import 82% crude oil from OPEC.

Have to pay Forex for all petroleum purchases.

Recent fire in Saudi Aramco created mess for our import as we completely stopped Importing from Iran.

The low GDP, FDI, Sensex, Rupee Tumbling & Auto sale decline is all due to oil prices.

PM Modi while his visit on 22.09.19 at Houston to meet President Trump should talk about import of oil from US on old prices i.e. less than 45 Dollar per barrel.

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