Cuban deepwater block yields two oil & gas leads

ONGC Videsh (OVL), the foreign investment arm of Oil & Natural Gas Corp (ONGC), has found two significant hydrocarbon leads in a Cuban deepwater exploration block where it has a 30% stake. The leads are likely to result into major hydrocarbon discoveries, people close to the development said.

OVL had acquired 30% participating interest in Spanish oil company Repsol-YPF’s Cuban deep water exploration blocks 25, 26, 27, 28, 29 and 36 in 2005. The other partner of the blocks, StatoilHydro (erstwhile Norsk Hydro) of Norway holds a 30% interest. Repsol is the operator of the blocks. The acquisition had marked OVL’s foray into Cuba’s oil and gas industry. (via OVL’s Cuban deepwater block yields two oil & gas leads-The Economic Times).

Brazil takes the first step

On October 14, 2008, 2ndlook had proposed a BRICS-Caribbean accord for oil exploration in the Caribbean.

Reeling under the curse of history, Western intervention and poverty, the Caribbean islands have been dealt a bad hand. Third World countries are paying through their nose to the OPEC cartel and for a dollar hegemony. Oil can break this vicious cycle.

“I don’t understand why it took so long to sign this agreement,” said Brazilian President Luiz Inacio Lula da Silva, who presided over a signing ceremony for the deal with Cuban President Raul Castro.

That makes two of us, Mr.President!

Brazil has also taken the first step. ONGC was already in the game. As is Russia. With India, Brazil and Russia working on Cuban oil exploration, it is a promising first step to a prosperous Caribbean.

Next stop, Haiti?

Toward a robust globalisation

Manu and Chiddu are wasting time

In a famous speech exactly four years ago, Fed Chairman Bernanke represented the US as responding passively and benignly to the global “savings glut” which had developed following the East Asian crisis of 1997-98.

Even though most closely associated with Chairman Bernanke, this formulation is widely shared by respectable economists and commentators, such as Martin Wolf of the Financial Times, Professor Richard Portes of the London Business School and the Centre for Economic Policy Research, and Professor Max Corden of the University of Melbourne. The task of recycling these imbalances fell on the sophisticated financial systems of the advanced countries. In the event, for a variety of reasons, even they proved unequal to the burden placed upon them.

Not surprisingly, quite a different view is taken by the major current account surplus countries, notably China, but including Germany, Japan and, for a while, the major oil-exporting countries. Here, the finger is pointed squarely at the monetary policies followed by the US Federal Reserve

The G-20 is not the perfect vehicle for India to show leadership, but it is a start. India should grasp the opportunity being given to it and run with it. (via Suman Bery: Toward a robust globalisation).

Dollar prop!

Promising start.

The post laid out the position of the world economic structures and developments in the last few years, rather well – and the way Bretton Woods unravelled. And then, in the last paragraph, Suman Bery suddenly, from nowhere comes out that India is being ‘given an opportunity’! And makes out as though India(ns) should be grateful - kow-tow and bless the benefactors. And, before they change their mind.

RUN with the bone that they have thrown at India!

Note the language …

Similar is the story with Manu and Chiddu. They use the language of recipients, of pleading and impotence. Chidambaram says that ‘they’ will now “give greater representation and voice to developing countries” Manmohan Singh mirrors the sentiment when he says,”consultations were merely for the sake of form”.

The Developing World FTA

Instead of breaking heads with the WTO, the Developing World should declare a 100 country FTA. As Rajat Nag, of the ADB points out,

“East Asia already trades 55% of its output within the region. India’s trade with China, Japan and ASEAN (Association of Southeast Asian Nations) is increasing. That is the structural shift which will have to happen. Our forecasts are not based on any dramatic shift”

Put the Doha round in deep freeze, and turbo charge work on a FTA within the developing world. That can add another 2%-4% to economic growth – especially to the poorest countries.

The Third Global Reserve Currency

To this add the Third Global Reserve Currency option – and junk the Dollar and the Euro. With this, the World economy will have two strong drivers for economic growth – without dependence on the West. The world needs to move away from the Dollar-Euro duopoly to tri-polar currency regime.

This calls for leadership – intellectual and political. Does the developing world have it? Can India provide it?

Why Manu and Chiddu should go …

I am not voting for Congress ...

“Unless the developed world puts together a well-regulated financial system and revives its financial institutions, the shadow of failure of the western world’s financial system will fall upon all developing countries,” Chidambaram said.

The economic crisis in the developed world had affected India with a flight of nearly $70 billion in capital last year. The various factors that strained the economy were appreciation of the dollar against the Indian rupee, mass return of Indian workers from west Asia, lower tourist arrivals and slowdown in exports. The fiscal deficit is expected to cross the 6%-mark while revenue deficit would be around 4% during 2008-09. (via ‘Economy to grow 7% in 2nd half of 2009′-India Business-Business-The Times of India).

Sometime back Chiddu came back saying that he wanted to end 5000 years of poverty! Supposedly India’s star finance minister, and a Government headed by an ex-RBI governor, says this!

And now this!!

Why will the developed world do anything that will benefit India! It is not their duty, their job – and they are not even capable.

It is your job, Manu and Chiddu! Get up and get going!

De-constructing how the US dismembered Pakistan

Demonizing Islam

The division of Pakistan has unfortunately legitimised the rule and role of two institutions in the politics of Pakistan; its religious extremists and its army and can be seen as a consequence of the US engagement with Pakistan post 9/11.

To understand this situation and the initial US response, we must deconstruct the ‘war on terror’ policy of the US and analyse one of its key components: the engagement of the US with its ally Gen Pervez Musharraf. This engagement was political as it had the effect of demoralising the democratic presence in Pakistan. (via When the US dismembered Pakistan- Opinion-The Economic Times).

Excellent analysis of how the US and the West is creator of the Pakistani Frankenstein!

Colonial imaginings?

It is also true that there was huge demobilisation of soldiers during the first half of the 19th century. Mughal rule was on its last legs and small rulers did not have the resources to maintain a regular army. Many of these men, Muslims and Hindus alike, did take to highway robberies. But thugs are a different story. Were they for real or were they just a figment of the Company Bahadur’s imagination? The question deserves an answer. (via Colonial imaginings?).

Indian history has become a two-trick pony

Produce Gandhiji or Nehru to blame or credit for anything in Indian history. That is the sum and substance of modern India’s approach to history.

The real tragedy here is not the colonial falsification of history. It is the abdication of the Indian academia in correcting colonial history. The entire Western historiography, based on a colonial agenda and racial superiority is not being challenged – at least not enough.

Amaresh Misra's War Of Civilisations: The Road To Delhi; India AD 1857 (Click for larger image).

Perplexed … Angry … Disappointed!

Sometime back, another book, on the Ghadar Party is a demonstration of how Indian Universities are letting us down.

Ghadar Party has not got its due from our historians or even from the official chroniclers of India’s freedom movement. The author, Savitri Sawhney, is the daughter of Pandurang Khankhoje, one of the co-founders of Ghadar Party.

Parag Tope’s forth coming book, Operation Red Lotus, on the life and wars of Tatiya Tope; another non-specialist book on  Chhatrapati Shri Sambhaji Maharaj by Anant Darwatkar, are all non-specialists, trying to do the job that a specialist should have done a long time ago. While on the subject of thugee and dacoits, Parag Tope’s write up on the Pindaris is worth a read.

Most impressive is the work by Amaresh Misra – a film critic and journalist, who was moved sufficiently to research for a few years, because, “Since 1957, no Indian has written a comprehensive account of the Revolt. Indian historians have done a limited work”. His work, based on some excellent research and insights, is of course, let down by his referrals, to partisan political interpretations and Western political frameworks.

The truth behind Thugee

Another book reveals how ‘Thuggee and Dacoity Department’ established with William Sleeman as Superintendent in 1835, could capture no more than 3000 highway robbers – of which only 400 were executed. In nearly a decade! In a population of possibly 25 crores.

Colonial propaganda - Artist - Illingworth, Leslie Gilbert, 1902-1979 Published - Daily Mail, 4 June 1947

Some of the most infamous, like Behram was attributed to have committed more than 900 murders – for which he never faced any trial, for murders he confessed to, even after being captured.

Most of these thugs were actually rebel peasants who were waging a war against the dispossession of the lands – like the Santhals, Bhils, Gujjars, etc.

How many innocents were killed on trumped up charges, I will not estimate!

Dysfunctional academia

Indian academicians and historians - especially in higher education, in non-technology, non -science related fields are big let down. Why are academicians (paid for doing this research) not doing this research? Why are non-specialists doing this job? My dissatisfaction is not a reflection on the non-specialists – but on the specialists.

Indian school texts have seen some basic ‘spit-and-polish’ on the colonial text and syllabus. Of course, the dominance of English language in higher education must take a major blame for this.

Related Articles

• Nation and Imagination (3quarksdaily.com)
• Indian Freedom -Helping Freedom Movement From Abroad (socyberty.com)

How do philanthropists make their money in the first place?

Propaganda becomes history

This photograph appeared in Business Standard on 28th February, 2009. A business newspaper does not remember business history. Nearly 150 years later, David Sassoon drug running and his opium kingdom is forgotten. He becomes the great philanthropist. Did he make his money from philanthropy?

This is one of the two elephants in the Western history room!

The teacher from Kerala

Thursday, Oct 05, 2006; Kaumudi Teacher - She renounced her gold ornaments for the cause of the freedom struggle (being honoured at her Kannur residence)

Badagara, Malabar, 13 January 1934

… I had just finished my speech at Badagara … I had finished speaking and was selling the presents received when gently walked up to the platform Kaumudi, a girl 16 years old.

She took out one bangle and asked me if I would give my autograph. I was preparing to give it, when off came the other bangle. She had only one on each hand. I said, “You need not give me both, I shall give you the autograph for one bangle only.” She replied by taking off her golden necklace.

This was no easy performance. It had to be disengaged from her long plait of hair… “But have you the permission of your parents?” I asked. There was no answer. She had not yet completed her renunciation. Her hands automatically went to her ears and out came her jewelled ear-rings amid the ringing cheers of the public, whose expression of joy was no longer to be suppressed. I asked her again whether she had her parents’ consent to the sacrifice.

Before I could extract any answer from the shy girl, someone told me that her father was present at the meeting, that he was himself helping me by bidding for the addresses I was auctioning and that he was as generous as his daughter in giving to worthy causes. I reminded Kaumudi that she was not to have the ornaments replaced. She resolutely assented to the condition.

As I handed her the autograph, I could not help prefacing it with the remark, “Your renunciation is a truer ornament than the jewellery you have discarded.” (via Gandhi in his own words).

What chance did the British have after this ‘performance’ by 16 year old Kaumudi! In Kannur town, Kaumudi teacher still inspires a new generation of students. Living quietly, Kaumudi teacher is remembered, though not as well as she deserves to be – and more importantly, as much as we need to.

‘Without our mother tongue we lose a lot’

Till you change the mindset of the people where one of us is willing to send children to a Hindi medium school, the stigma attached to the language will continue and there’ll be few Hindi readers and writers. I wouldn’t say that the future is dark or bright but there is a need to connect with your mother tongue and it will always be there. With time people will wake up to the fact that without our mother tongue we lose a lot. (via ‘Without our mother tongue we lose a lot’-Interviews-Opinion-The Times of India).

A rare woman who speaks out against the preference for  ‘foreign’ languages. She makes excellent sense, with some sharp observations (especially about Marwaris and Bengalis) – till she talks about language being a mindset problem.

When the State supports English language education with more than Rs.1 lakh crores, sending children to a Hindi /Bengali /Tamil /Marathi medium school is fool hardy. What happens to that child when the time comes for higher education, imparted exclusively in English.

The answer is to cut off funding for English language education by the Indian tax payer.

Independent of the West – India has the best chance

India is actually very well-positioned for the new post-US consumption world. We are a large economy with very little dependence on exports. Consumption is about 65 per cent of the economy, our demographics suggest it will remain strong. Our banking system is solvent. Capital investment will lead to huge productivity gains. We have good entrepreneurs and as the government share of the economy falls, there are huge growth opportunities in the domestic market. We do not need a growth model change like in China, which has to move away from exports/capital investment and towards consumption as its growth driver.

India is unique in that our fate lies to a large extent in our own hands. There is enough slack in the system that good policy can make a huge difference to productivity and growth. If we deliver economic reform and strong economic policymaking, we can grow rapidly and attract investor attention. We are not as dependent on a US bail-out or recovery as most of Asia. We have a better chance of being able to grow independent of the West than any other country in Asia.

We once again have a chance to really stand out and differentiate ourselves. Will we take this opportunity? (via Akash Prakash: Crunch time).

Like Quicktake and 2ndlook have always been saying, India is uniquely and strongly positioned to make a difference – to India and the World. In that order. What stops us is our Westernized subservient, English speaking elite – and their lack of imagination!

And till such time that that they are not taken care of , they will hobble and retard us! Maybe the British should have taken away these Brown Sahibs! I think we can still do a clearance sale!! We should outsource them away and give these Brown Sahibs away with a dowry!

1.2 million Indian women in positions of power

The Western woman had a tough time getting her rights - unlike Indian women!

she is one of 1.2 million. That’s the number of elected women representatives in rural India, the largest anywhere in the world.

It’s not just about numbers. Village women appear to be genuinely empowered by election to panchayats. Or so says the first AC Nielsen-ORG Marg study commissioned by the ministry of Panchayati Raj. The study has found that 15 years after the 73rd Amendment Act of the Constitution reserved one-third of all panchayat seats for women, they are a force to reckon with. Even more encouraging, it found that they have emerged from the shadows of their male patrons. (via Agents of change march on-View From Venus-Sunday TOI-The Times of India).

Is this a success of Indian democracy or a cardboard cut out of success? While this figure may not prove actual empowerment (to use a modern phrase), it does show acceptance of women in positions of authority and power – in significant numbers.After all, 1.2 million in positions of elected positions of power is something significant!

All those arrivistes, who are awaiting the bra-burning, Western denominated women lib, as signs of arrival and the true coming, should take a 2ndlook at what real feminism is – or at least, what the oldest feminist civilization looks at the feminine.