Nepalese Oil Crisis

P

Phil Brown

Joined
Jun 2, 2006
Messages
367
It sounds like Nepal is in a spot of trouble over oil. Indian Oil Corporation has cut Nepal's oil supply by 40% due to Nepal Oil Corporation's $90 million outstanding debt. The streets of Kathmandu are reminiscent of the U.S. during the early 70's gas crisis; cab drivers lose business while they wait for hours in line and other citizens wonder if there will be any fuel left tomorrow. Nepal has very limited oil reserves. The people seem dead-set against raising gas prices, and the government is afraid to do so, but the money isn't going to appear out of nowhere and IOC doesn't appear to be a "pay us when you can" outfit.

My take on this whole mess - there's going to have to be a price hike. Nobody wants to hear that, but the situation seems to be to the point that people are going to be hurt no matter what happens. Some are seeking a political solution, but no amount of diplomacy can make the debt disappear. Extending the deadline is not a solution. Mind you, I am not a political analyst or even an economics major.

Smoke for the people of Nepal (especially our kamis and their families) that they will make it through this crisis.
 
Wolf_1989 said:
Worse, this will make for good propaganda for those Maoist rebels over there.

:thumbdn:
Click to expand...


The Maoist rebels are in the goverment on a power sharing basis nowadays. :D The Deputy Prime minister is one of the head Maoists.

The army & police are offcialy no longer the Royal Army, Royal police although of course nearly all the senior officers are still relatives of the King.

Times Change so fast nowadays, Protestant & cathlics dont even kill one another in Ireland anymore. {They still kill there own of course.}

The King of Nepal agreed to no longer be the absolute power. {even though offcialy he is still an incarnation from the sun god walking on earth. ;) } & heallowed a goverment to be elected that included all the parties he had previously banned. If he hadnt he would be living in Switzerland or some other such country with his numerous suitcasis & container loads of jewels & cash etc. or dead.

He must like living in Nepal.:D

Guess the Indian company know they will probably never get the money, unless politics make England, USA, Germany etc. foot the bill.

Spiral
 
Hmmm, Wolf where have you been? This has all been major headline news for some time now here in the US. I was aware of it as it happened do to it being in the headlines.
 
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