An excellent research about the oil and gas sector in India. After reading the book it seems that the authors are a bit biased even as they have tried to mention different points of view. The research is incomplete because it leaves the reader with a lot of unanswered questions.
Questions about hoarding gas. Can a company choose to hoard gas? Is it possible. Would have been better if a more detailed research was done to find out if hoarding of gas is possible. Another question that comes to mind is that RIL reduced its production considerably. They were accused of hoarding gas expecting a price revision to be much higher. After the price was revised to $5.61 did the production increase to the old level of 60+ mscmd. Very little has been spoken about the cost of production of gas from onshore drilling and offshore drilling as well as deep and ultra deep drilling. If the cost of production is researched in detail and the true facts mentioned then it becomes easier to understand and compare the difference in the cost of production during 2002-2003 when oil and gas prices were lower compared to 2007-2008 when the oil and gas prices had peaked. It would have been better if the author had also mentioned the prevailing gas prices in all the Asian countries to get a better idea as to ascertain whether too higH a price was demanded by RIL. I find this book to be biased against the Ambanis and RIL. I don't believe RIL or any other corporate house to be completely honest and work for the nations best interest rather than the company's. They probably would have bribed many people along their way to earn more and more. But to blame only RIL for bribing and creating an atmosphere of corruption would be to blame a drug user for using drugs and creating a demand for it. Supllying drugs is a bigger crime than consuming it. It's the government's job to keep cronyism in check and create a level playing field for all the participants.
To conclude there is crony capitalism everywhere in the world. But can you blame the corporate houses to take advantage of the government or the nation for higher profits? That is human nature, humans are greedy and they want more for themselves. If one needs to bring about a change and an end to crony capitalism then we need good honest governments who take decisions on behalf of the people in the nations interest.