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Reliance Industries Files Gas Case to Supreme Court

Bloomberg -- Billionaire Mukesh Ambani’s Reliance Industries Ltd. said it filed a petition to the Supreme Court challenging a lower court order to supply natural gas to Reliance Natural Resources Ltd. at a discount to the government-fixed rate.

Reliance Industries said in its petition that it can’t sell the gas from its Krishna Godavari field at a price lower than the $4.2 per million British thermal units set by the government. Company spokesman Tushar Pania confirmed that the petition had been filed today and declined to comment further.

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Submitted Jul 05, 2009 By: ziyulu

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Author	Topic: Reliance Industries Files Gas Case to Supreme Court	Post a Reply Back to Topics

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lgwhitlock Champion Author California Posts:1,686 Points:447,050 Joined:Jun 2008	Message Posted: Jul 5, 2009 3:51:34 PM Ignore lgwhitlock Report Abuse Not sure how this relates to us in the USA, but it sure seems India has it's issues...
Hugo40 Champion Author Kentucky Posts:1,359 Points:376,345 Joined:Aug 2008	Message Posted: Jul 5, 2009 3:49:43 PM Ignore Hugo40 Report Abuse What?
Beboper Champion Author Virginia Posts:2,320 Points:899,060 Joined:Oct 2005	Message Posted: Jul 5, 2009 3:40:30 PM Ignore Beboper Report Abuse so what
pigmanTX All-Star Author Dallas Posts:863 Points:294,000 Joined:Nov 2008	Message Posted: Jul 5, 2009 3:39:09 PM Ignore pigmanTX Report Abuse Not even a blip on my radar.
jpk13 Champion Author Wisconsin Posts:1,859 Points:362,030 Joined:Sep 2008	Message Posted: Jul 5, 2009 3:37:58 PM Ignore jpk13 Report Abuse It sounds like India has bigger issues in its legal system than we do.
ironbox_sara Champion Author Albany Posts:3,296 Points:1,027,385 Joined:Mar 2006	Message Posted: Jul 5, 2009 3:37:03 PM Ignore ironbox_sara Report Abuse Who cares.
dks458 Sophomore Author Boston Posts:127 Points:326,160 Joined:Apr 2008	Message Posted: Jul 5, 2009 3:28:13 PM Ignore dks458 Report Abuse this doesn't sound like a US Supreme Court case
MustangKen Champion Author Denver Posts:3,740 Points:625,575 Joined:Apr 2007	Message Posted: Jul 5, 2009 3:28:12 PM Ignore MustangKen Report Abuse It'll be that way here soon.
HEBster Champion Author Kentucky Posts:2,566 Points:1,126,845 Joined:May 2006	Message Posted: Jul 5, 2009 3:25:35 PM Ignore HEBster Report Abuse Looks like they'd better learn to keep their commitments...
fuelconscious Veteran Author Los Angeles Posts:378 Points:110,550 Joined:Jan 2008	Message Posted: Jul 5, 2009 3:23:00 PM Ignore fuelconscious Report Abuse Whats next the government fixing the price of Coca-Cola?
nojsts Champion Author St. Louis Posts:13,015 Points:2,621,820 Joined:May 2002	Message Posted: Jul 5, 2009 3:22:19 PM Ignore nojsts Report Abuse I have to pay so should they.
suzyq2007 Champion Author Dallas Posts:1,468 Points:512,520 Joined:Oct 2007	Message Posted: Jul 5, 2009 3:22:15 PM Ignore suzyq2007 Report Abuse and this will probably make our prices go up
montytexas All-Star Author Houston Posts:763 Points:503,715 Joined:Jun 2006	Message Posted: Jul 5, 2009 3:18:28 PM Ignore montytexas Report Abuse The "government fixed rate" always causes unexpected problems....
Ken2OD Champion Author Grand Rapids Posts:2,685 Points:714,610 Joined:Dec 2005	Message Posted: Jul 5, 2009 3:17:34 PM Ignore Ken2OD Report Abuse I guess all countries have superfluous legal cases going to their respective Supreme Courts. This case won't affect me one way or the other.
Kato51 Champion Author Atlanta Posts:1,507 Points:1,010,770 Joined:Jul 2005	Message Posted: Jul 5, 2009 3:16:27 PM Ignore Kato51 Report Abuse Why should they have a price lower than every one else? Maybe hey should pay the same but receive a handout for the balance from boma.
Toppers Champion Author Atlanta Posts:2,704 Points:1,219,320 Joined:Mar 2005	Message Posted: Jul 5, 2009 3:16:03 PM Ignore Toppers Report Abuse This' a great article...for Indian's don't know if it has much relevance to us here...
jmuse Champion Author Long Island Posts:2,219 Points:445,370 Joined:May 2008	Message Posted: Jul 5, 2009 3:11:54 PM Ignore jmuse Report Abuse who cares?
Lizzylou Champion Author Stockton Posts:3,179 Points:1,230,205 Joined:Oct 2005	Message Posted: Jul 5, 2009 3:09:46 PM Ignore Lizzylou Report Abuse They should be made to abide by the price they contracted at!
weenerdog Champion Author Detroit Posts:3,489 Points:658,425 Joined:Jan 2008	Message Posted: Jul 5, 2009 3:01:10 PM Ignore weenerdog Report Abuse I have to pay the same price to heat my house no matter what the outcome.
DeHavilland Champion Author Toronto Posts:3,214 Points:764,445 Joined:Jun 2007	Message Posted: Jul 5, 2009 2:58:14 PM Ignore DeHavilland Report Abuse Good point, fairchildd!
bigmacatac Champion Author St. Louis Posts:1,720 Points:377,390 Joined:Oct 2008	Message Posted: Jul 5, 2009 2:58:09 PM Ignore bigmacatac Report Abuse Don't sell it cheaper then. GIVE IT AWAY!!!!!!!!!!!!!!!!!!!!1
Jizme Champion Author Lincoln Posts:3,481 Points:1,646,490 Joined:Oct 2004	Message Posted: Jul 5, 2009 2:57:38 PM Ignore Jizme Report Abuse Bla, bla, bla, whatever.
915Chief Champion Author San Diego Posts:2,290 Points:448,120 Joined:Aug 2008	Message Posted: Jul 5, 2009 2:55:31 PM Ignore 915Chief Report Abuse A 17 year contract? Time to put the hooka down...
fairchildd Champion Author Kansas City Posts:2,626 Points:700,255 Joined:Aug 2007	Message Posted: Jul 5, 2009 2:55:28 PM Ignore fairchildd Report Abuse if you don't want to get stuck in a bad deal, then don't do the deal. Otherwise, live up to your end of the bargain
adapal Veteran Author Pennsylvania Posts:436 Points:156,790 Joined:Dec 2008	Message Posted: Jul 5, 2009 2:53:51 PM Ignore adapal Report Abuse This story is about a company in India which signed a contract to sell natural gas at a price. Well, the world spot price of the natural gas went up and they locked themselves into a 17 year contract. I don't know about India, but here in the United States if you set a 17 year price that is the price for the next 17 years, unless you are able to renegotiate a new rate. But still, this article has nothing to do with the US.
hank1326 Champion Author Los Angeles Posts:2,577 Points:485,110 Joined:Jun 2008	Message Posted: Jul 5, 2009 2:52:27 PM Ignore hank1326 Report Abuse Ditto to PathfinderSC. Do what we can to control. Conserve more than ever now!
ThatHunt Champion Author Dallas Posts:1,213 Points:950,200 Joined:Jul 2006	Message Posted: Jul 5, 2009 2:51:22 PM Ignore ThatHunt Report Abuse I certainly hope Supreme Court will not hear this case and let stand lower court's decision.
milespergallon Champion Author Illinois Posts:3,730 Points:825,890 Joined:Feb 2007	Message Posted: Jul 5, 2009 2:49:25 PM Ignore milespergallon Report Abuse How, exactly does this affect us?
kyrunner Champion Author Lexington Posts:2,329 Points:439,050 Joined:Aug 2008	Message Posted: Jul 5, 2009 2:45:09 PM Ignore kyrunner Report Abuse I bet our federal government wished they could control all of our energy companies like Bombay does. Governments don't care whether profits are made as long as they get their social wishes. Companies don't operate long at a loss.
Mikey8494 Champion Author Dayton Posts:3,805 Points:1,109,650 Joined:Jul 2006	Message Posted: Jul 5, 2009 2:42:09 PM Ignore Mikey8494 Report Abuse Greed on the line.......
krell58 Champion Author Missouri Posts:5,792 Points:1,143,705 Joined:Apr 2006	Message Posted: Jul 5, 2009 2:37:04 PM Ignore krell58 Report Abuse This is natural gas not even sold here.
Bussman Champion Author Dallas Posts:1,087 Points:308,000 Joined:Nov 2008	Message Posted: Jul 5, 2009 2:33:04 PM Ignore Bussman Report Abuse You can bet higher profits are at stake.
fitwit All-Star Author Stockton Posts:808 Points:178,580 Joined:May 2009	Message Posted: Jul 5, 2009 2:27:09 PM Ignore fitwit Report Abuse In Pumpanese that translates to....?
pitchingcoach Champion Author Michigan Posts:1,271 Points:140,175 Joined:Aug 2008	Message Posted: Jul 5, 2009 2:24:54 PM Ignore pitchingcoach Report Abuse If you are unhappy, sue someone!!
eagleeye2008 Champion Author Wisconsin Posts:2,517 Points:473,335 Joined:Jul 2008	Message Posted: Jul 5, 2009 2:18:00 PM Ignore eagleeye2008 Report Abuse WELL!!!,THEY HAVE THE "OIL CARTEL" TOTALLY SCRED UP,,,NOW THEY WISH TO SQUEEZE GREATER PROFITS OUT OF THE "NATURAL GAS" MARKETS,,,,ALL TO GAIN EVEN MORE CONTROL !!!!!,,,,,MORE GREED !!!!!
phurburger Champion Author Atlanta Posts:1,724 Points:365,120 Joined:Oct 2005	Message Posted: Jul 5, 2009 2:14:57 PM Ignore phurburger Report Abuse What in the world does this story about the country of India have to do with anything we care about in the U.S.? In the first place there's no way we could or would even want to understand the inter-workings of government and industry over there.
Slyguy1060 Champion Author Michigan Posts:4,941 Points:971,020 Joined:Feb 2007	Message Posted: Jul 5, 2009 2:12:48 PM Ignore Slyguy1060 Report Abuse You got that right OHMS!
AnObserver Champion Author New Jersey Posts:3,167 Points:1,185,655 Joined:Sep 2005	Message Posted: Jul 5, 2009 2:10:57 PM Ignore AnObserver Report Abuse This appears to the (Ambani) family fued in INDIA - more contract law than energy supply
JohnJ55 All-Star Author Dayton Posts:722 Points:681,610 Joined:Jul 2007	Message Posted: Jul 5, 2009 2:09:26 PM Ignore JohnJ55 Report Abuse so the courts decide prices now?
DocWyeth Champion Author Pennsylvania Posts:11,506 Points:961,780 Joined:Aug 2005	Message Posted: Jul 5, 2009 2:07:49 PM Ignore DocWyeth Report Abuse Socialism is F up!
thirstyauto Champion Author Milwaukee Posts:3,651 Points:355,330 Joined:Nov 2008	Message Posted: Jul 5, 2009 2:06:18 PM Ignore thirstyauto Report Abuse What's next??
paulydel Champion Author Delaware Posts:3,008 Points:363,545 Joined:Jan 2008	Message Posted: Jul 5, 2009 2:06:04 PM Ignore paulydel Report Abuse I hope you enjoyed your last Fourth of July celebtrating our independence. [Edited by: paulydel at 7/5/2009 2:07:01 PM EST]
uglytom Champion Author Florida Posts:1,792 Points:419,100 Joined:Jul 2007	Message Posted: Jul 5, 2009 2:01:22 PM Ignore uglytom Report Abuse Some one wants to sell lower?
balljars Champion Author Michigan Posts:2,269 Points:453,075 Joined:Aug 2008	Message Posted: Jul 5, 2009 2:00:30 PM Ignore balljars Report Abuse I do not understand a court can do that.
CLM06 Champion Author Tampa Posts:3,255 Points:841,750 Joined:Sep 2006	Message Posted: Jul 5, 2009 2:00:21 PM Ignore CLM06 Report Abuse God forgive we should get a break
BazooQC Champion Author Montreal Posts:3,096 Points:392,760 Joined:Oct 2008	Message Posted: Jul 5, 2009 1:59:09 PM Ignore BazooQC Report Abuse Huh! Surprise surprise. In the free business world, I didn't think price fixing was allowed. The courts are involved in this? Where is my consumer protection!
Valricoslash All-Star Author Tampa Posts:680 Points:170,205 Joined:Nov 2008	Message Posted: Jul 5, 2009 1:56:47 PM Ignore Valricoslash Report Abuse Like all things government does, it does not apply to us working stiffs. Only the government.
dabuzman Champion Author Seattle Posts:2,829 Points:796,180 Joined:Apr 2006	Message Posted: Jul 5, 2009 1:53:18 PM Ignore dabuzman Report Abuse If the government can get a rate what wrong with the public getting the same rate.
beachbumCA Champion Author Riverside Posts:2,552 Points:487,680 Joined:May 2008	Message Posted: Jul 5, 2009 1:52:41 PM Ignore beachbumCA Report Abuse Obama may just fire him. Just look at all the auto dealers and their workers have been fired.
Ltdc All-Star Author Long Island Posts:966 Points:444,245 Joined:Jul 2007	Message Posted: Jul 5, 2009 1:44:04 PM Ignore Ltdc Report Abuse Not good when courts start dictating prices.
foxups Champion Author Toledo Posts:2,822 Points:555,085 Joined:Feb 2004	Message Posted: Jul 5, 2009 1:41:20 PM Ignore foxups Report Abuse greed greed greed
FordGuy48 Champion Author Albuquerque Posts:1,034 Points:259,470 Joined:Jul 2005	Message Posted: Jul 5, 2009 1:41:01 PM Ignore FordGuy48 Report Abuse "everyone wants more money so see OBAMA he is the controller of the usa money " The Wizard of Ob...............