India’s Oil and Gas Industry has an interesting mix of Oil & Gas companies from the government and private sector.Except for some companies providing ancillary and drilling services,most of the companies are huge with billion dollar balance sheet and huge operations as is the case with the Oil and Gas Industry worldwide.Except for Reliance Industries,the upstream sector of oil and gas production and distribution is dominated by government owned companies which are heavily regulated.Despite attempts at liberalizing the APMC and the operations of the PSU Oil Companies,HPCL,BPCL and IOC run billions of dollars in losses as they are forced to sell oil and gas products at below their cost.The government’s policies are mostly ad-hoc compensating these companies through bonds and money transfers.It is quite strange as the minority investors are forced to pay for government subsidies for energy.India’s Oil Subsidies has led to the flourishing of a massive Oil Mafia which does not think twice before killing government officials and has led to poor outcomes for the country.Despite this government stupidity,some government companies like GAIL,OIL India and ONGC which operates in the production and have to bear less of the subsidy burden have grown and performed admirably.In the private sector companies like Reliance,Aban,Great Offshore,Essar have managed to grow rapidly as well with varying degrees of success.Here is the list of the major Oil and Gas Companies in India.

USA has been sorely lacking in the fight against Climate Change and Global Warming.Greenhouse Gas Emissions by the US has increased tremendously from 1990 the benchmark year when countries under Kyoto Protocol pledged to reduced their Carbon Emissions.However US has refused to do anything and has not even signed the Kyoto Protocol.The hopelessly rudderless leadership in the US has failed to pass any Clean Energy Laws like Cap and Trade ( not my favorite),Federal RPS etc.Some states have been showing proactive leadership like California despite massive opposition by the powerful oil and gas lobby (Valero,Koch Brothers).Their efforts are being stymied by the very rich who don’t care about global warming as they can easily use their money to mitigate any affect on them and the powerful fossil fuel lobby with their thinktank puppets.

Increasing Oil Prices is the biggest Achilles Heel of the Indian Economy heavily dependent on imported oil products.The government will have to either raise the prices leading to adding fire to the already high inflation or compensate the badly bleeding half privatized Oil Companies like IOC,BPCL and HPCL.These companies generally make massive losses despite having private investors apart from the government.Compensating these losses would lead to a higher fiscal deficit which would add to the inflation pressures anyway.Note a recent survey revealed that the Indian Middle Class has cut its expenditure on shopping,eating out and entertainment by a whopping 65% due to the high inflation.However the Indian Stock Market has seemingly discounted all these factors going up by 10% in 10 days on the back of a global rally.Bernanke Fueled Cheap Money is Circulating Hungrily across the Globe and currently India seems to be the fashion trend of the month.Note these hot money flows can reverse equally quickly leading to a sharp market crash just like the Jan-Feb one as fundamentals hardly support this kind of rally.With government intervention and distortions becoming the overriding factor in the stock markets,Free Markets and Fundamentals have taken a backseat.

Renewable Energy is one of the most read about and discussed topics in the world however various misconceptions remain about the advantages and disadvantages of renewable energy.Note Renewable Energy is a a very large topic and encompasses many different alternative energy forms which have their own distinct pros and cons.A Better Way to understand and explain Renewable Energy would be to look at each different forms of Clean Energy like Solar,Wind,Nuclear,Hydro,Tidal,Biomass and Geothermal Energy.Renewable Energy itself compared to Fossil Fuel forms of Non-Renewable Energy has substantial advantages and some disadvantages as well the biggest of which is Cost.Also note Fossil Fuel Energy has got a massive established base,industry and lobby.

Obama’s outlined a New Energy Policy as he periodically does without any far reaching national goals on to reduce America’s dependence on billions of barrels of imported oil which cause global warming,finance terrorist and prop up brutal regimes in the Middle East.However his periodic bursts of rhetoric on the US Energy Policy is nothing but a lot of empty gas without any specifics.Earlier he used to stress on nuclear energy which has been thrown out of the window with the Fukushima nuclear disaster.His plans of supporting the nuclear energy industry with $36 billion in DOE loans seems a bad if not a gruesome joke.Similarly last year his plans of allowing offshore drilling for Oil also fell flat after the massive BP Oil Spill ecological disaster.

The world’s total electricity generating capacity is around 4500 GW (2007 figures) which is expected to increase by 1.7% each year to rise to 7000 GW by 2035 according to EIA.USA is still the world’s largest electricity producing country with more than 20% of the world’s power capacity with around 1 Terawatts of Electricity Capacity.China has been rapidly adding capacity in the last decade and the second biggest electricity producing country with more than 700 GW more than 70% of which is from coal fired power plants.Japan,Russia and India are No.3,4 and 5 on the list with 280 Gw,220 GW and 159GW respectively.Europe is the third largest region in terms of electricity capacity with more than 800 GW.India is rapidly increasing capacity and is projected to be the No.3 in the list by 2020 as it looks to more almost treble its current electricity capacity of around 150 GW (in 2007).