Abstract
Oil, because of its easy availability, ease in handling, and sufficiently low price, has dominated the energy front in the recent decades. The Arab-Israeli conflict of 1973, however, triggered off an energy crisis and India, like other developing countries, suffered the most owing to increased prices it had to pay for the imported crude. The discovery of oil fields off the western coast has improved the prospects of India becoming self reliant on oil. This article assesses the implications of various policy options open to the Government of India in Bombay High.
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