All the same, they are government entities in the sense that the oil market in India is not necessarily driven by market forces. Their humongous profits are driven by monopolies.
So if they are not handing over enough royalties for local consumption, they need to pay their dues in other ways. Like setting up schools and hospitals, giving jobs to people of Assam etc. As Shantikamda rightly pointed out, it is not the most efficient model. But neither is the market efficient. The ideal situation would have been that they focus on exploring, drilling and distributing oil. And handing over money to the government of Assam. But then who would utilize the money better - ONGC or the government of Assam? __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com _______________________________________________ Assam mailing list Assam@pikespeak.uccs.edu http://pikespeak.uccs.edu/mailman/listinfo/assam Mailing list FAQ: http://pikespeak.uccs.edu/assam/assam-faq.html To unsubscribe or change options: http://pikespeak.uccs.edu/mailman/options/assam
