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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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Hugo40 Champion Author Kentucky Posts:2,758 Points:653,935 Joined:Aug 2008	Message Posted: Jul 5, 2009 1:49:43 PM Ignore Hugo40 Report Abuse What?
Beboper Champion Author Virginia Posts:3,782 Points:1,188,360 Joined:Oct 2005	Message Posted: Jul 5, 2009 1:40:30 PM Ignore Beboper Report Abuse so what
pigmanTX Champion Author Houston Posts:1,281 Points:369,735 Joined:Nov 2008	Message Posted: Jul 5, 2009 1:39:09 PM Ignore pigmanTX Report Abuse Not even a blip on my radar.
jpk13 Champion Author Wisconsin Posts:3,440 Points:646,030 Joined:Sep 2008	Message Posted: Jul 5, 2009 1:37:58 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:4,721 Points:1,297,925 Joined:Mar 2006	Message Posted: Jul 5, 2009 1:37:03 PM Ignore ironbox_sara Report Abuse Who cares.
dks458 Sophomore Author Boston Posts:128 Points:333,480 Joined:Apr 2008	Message Posted: Jul 5, 2009 1:28:13 PM Ignore dks458 Report Abuse this doesn't sound like a US Supreme Court case
MustangKen Champion Author Denver Posts:3,765 Points:631,950 Joined:Apr 2007	Message Posted: Jul 5, 2009 1:28:12 PM Ignore MustangKen Report Abuse It'll be that way here soon.
HEBster Champion Author Kentucky Posts:3,958 Points:1,413,335 Joined:May 2006	Message Posted: Jul 5, 2009 1:25:35 PM Ignore HEBster Report Abuse Looks like they'd better learn to keep their commitments...
fuelconscious All-Star Author Los Angeles Posts:670 Points:238,570 Joined:Jan 2008	Message Posted: Jul 5, 2009 1:23:00 PM Ignore fuelconscious Report Abuse Whats next the government fixing the price of Coca-Cola?
nojsts Champion Author St. Louis Posts:14,048 Points:2,829,905 Joined:May 2002	Message Posted: Jul 5, 2009 1:22:19 PM Ignore nojsts Report Abuse I have to pay so should they.
suzyq2007 Champion Author Dallas Posts:2,819 Points:781,025 Joined:Oct 2007	Message Posted: Jul 5, 2009 1:22:15 PM Ignore suzyq2007 Report Abuse and this will probably make our prices go up
montytexas Champion Author Houston Posts:1,210 Points:721,140 Joined:Jun 2006	Message Posted: Jul 5, 2009 1:18:28 PM Ignore montytexas Report Abuse The "government fixed rate" always causes unexpected problems....
Ken2OD Champion Author Grand Rapids Posts:4,108 Points:1,001,460 Joined:Dec 2005	Message Posted: Jul 5, 2009 1:17:34 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:2,858 Points:1,279,125 Joined:Jul 2005	Message Posted: Jul 5, 2009 1:16:27 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:4,137 Points:1,505,290 Joined:Mar 2005	Message Posted: Jul 5, 2009 1:16:03 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 1:11:54 PM Ignore jmuse Report Abuse who cares?
Lizzylou Champion Author Stockton Posts:4,540 Points:1,505,675 Joined:Oct 2005	Message Posted: Jul 5, 2009 1:09:46 PM Ignore Lizzylou Report Abuse They should be made to abide by the price they contracted at!
weenerdog Champion Author Detroit Posts:4,938 Points:943,020 Joined:Jan 2008	Message Posted: Jul 5, 2009 1:01:10 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:1,007,920 Joined:Jun 2007	Message Posted: Jul 5, 2009 12:58:14 PM Ignore DeHavilland Report Abuse Good point, fairchildd!
bigmacatac Champion Author St. Louis Posts:3,030 Points:635,025 Joined:Oct 2008	Message Posted: Jul 5, 2009 12:58:09 PM Ignore bigmacatac Report Abuse Don't sell it cheaper then. GIVE IT AWAY!!!!!!!!!!!!!!!!!!!!1
Jizme Champion Author Lincoln Posts:4,943 Points:1,933,740 Joined:Oct 2004	Message Posted: Jul 5, 2009 12:57:38 PM Ignore Jizme Report Abuse Bla, bla, bla, whatever.
915Chief Champion Author San Diego Posts:3,655 Points:717,000 Joined:Aug 2008	Message Posted: Jul 5, 2009 12:55:31 PM Ignore 915Chief Report Abuse A 17 year contract? Time to put the hooka down...
fairchildd Champion Author Kansas City Posts:4,068 Points:980,690 Joined:Aug 2007	Message Posted: Jul 5, 2009 12:55:28 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 Reading Posts:481 Points:222,340 Joined:Dec 2008	Message Posted: Jul 5, 2009 12:53:51 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:4,116 Points:774,175 Joined:Jun 2008	Message Posted: Jul 5, 2009 12:52:27 PM Ignore hank1326 Report Abuse Ditto to PathfinderSC. Do what we can to control. Conserve more than ever now!
ThatHunt Champion Author Dallas Posts:2,620 Points:1,228,655 Joined:Jul 2006	Message Posted: Jul 5, 2009 12:51:22 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:5,008 Points:1,051,620 Joined:Feb 2007	Message Posted: Jul 5, 2009 12:49:25 PM Ignore milespergallon Report Abuse How, exactly does this affect us?
kyrunner Champion Author Lexington Posts:3,946 Points:728,635 Joined:Aug 2008	Message Posted: Jul 5, 2009 12:45:09 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.
krell58 Champion Author Missouri Posts:5,792 Points:1,143,705 Joined:Apr 2006	Message Posted: Jul 5, 2009 12:37:04 PM Ignore krell58 Report Abuse This is natural gas not even sold here.
Bussman Champion Author Dallas Posts:1,740 Points:526,390 Joined:Nov 2008	Message Posted: Jul 5, 2009 12:33:04 PM Ignore Bussman Report Abuse You can bet higher profits are at stake.
Fitwit Champion Author Stockton Posts:2,086 Points:455,155 Joined:May 2009	Message Posted: Jul 5, 2009 12:27:09 PM Ignore Fitwit Report Abuse In Pumpanese that translates to....?
pitchingcoach Champion Author Michigan Posts:1,276 Points:140,350 Joined:Aug 2008	Message Posted: Jul 5, 2009 12:24:54 PM Ignore pitchingcoach Report Abuse If you are unhappy, sue someone!!
eagleeye2008 Champion Author Wisconsin Posts:4,028 Points:764,165 Joined:Jul 2008	Message Posted: Jul 5, 2009 12:18:00 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:2,555 Points:530,670 Joined:Oct 2005	Message Posted: Jul 5, 2009 12:14:57 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:6,545 Points:1,257,200 Joined:Feb 2007	Message Posted: Jul 5, 2009 12:12:48 PM Ignore Slyguy1060 Report Abuse You got that right OHMS!
AnObserver Champion Author New Jersey Posts:4,295 Points:1,423,745 Joined:Sep 2005	Message Posted: Jul 5, 2009 12:10:57 PM Ignore AnObserver Report Abuse This appears to the (Ambani) family fued in INDIA - more contract law than energy supply
JohnJ55 Champion Author Dayton Posts:2,053 Points:966,845 Joined:Jul 2007	Message Posted: Jul 5, 2009 12:09:26 PM Ignore JohnJ55 Report Abuse so the courts decide prices now?
DocWyeth Champion Author Pennsylvania Posts:12,799 Points:1,150,035 Joined:Aug 2005	Message Posted: Jul 5, 2009 12:07:49 PM Ignore DocWyeth Report Abuse Socialism is F up!
thirstyauto Champion Author Milwaukee Posts:6,188 Points:646,315 Joined:Nov 2008	Message Posted: Jul 5, 2009 12:06:18 PM Ignore thirstyauto Report Abuse What's next??
paulydel Champion Author Delaware Posts:4,239 Points:467,805 Joined:Jan 2008	Message Posted: Jul 5, 2009 12:06:04 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:3,126 Points:684,090 Joined:Jul 2007	Message Posted: Jul 5, 2009 12:01:22 PM Ignore uglytom Report Abuse Some one wants to sell lower?
balljars Champion Author Michigan Posts:3,658 Points:726,250 Joined:Aug 2008	Message Posted: Jul 5, 2009 12:00:30 PM Ignore balljars Report Abuse I do not understand a court can do that.
CLM06 Champion Author Tampa Posts:4,714 Points:1,117,415 Joined:Sep 2006	Message Posted: Jul 5, 2009 12:00:21 PM Ignore CLM06 Report Abuse God forgive we should get a break
BazooQC Champion Author Montreal Posts:4,776 Points:681,355 Joined:Oct 2008	Message Posted: Jul 5, 2009 11:59:09 AM 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 Champion Author Tampa Posts:1,793 Points:397,270 Joined:Nov 2008	Message Posted: Jul 5, 2009 11:56:47 AM 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:3,829 Points:1,004,800 Joined:Apr 2006	Message Posted: Jul 5, 2009 11:53:18 AM 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:4,069 Points:767,500 Joined:May 2008	Message Posted: Jul 5, 2009 11:52:41 AM Ignore beachbumCA Report Abuse Obama may just fire him. Just look at all the auto dealers and their workers have been fired.
Ltdc Champion Author Long Island Posts:2,397 Points:726,745 Joined:Jul 2007	Message Posted: Jul 5, 2009 11:44:04 AM Ignore Ltdc Report Abuse Not good when courts start dictating prices.
foxups Champion Author Toledo Posts:3,252 Points:645,060 Joined:Feb 2004	Message Posted: Jul 5, 2009 11:41:20 AM Ignore foxups Report Abuse greed greed greed
FordGuy48 Champion Author Albuquerque Posts:1,218 Points:472,705 Joined:Jul 2005	Message Posted: Jul 5, 2009 11:41:01 AM Ignore FordGuy48 Report Abuse "everyone wants more money so see OBAMA he is the controller of the usa money " The Wizard of Ob...............
no_monkey2002 Champion Author Tallahassee Posts:3,803 Points:1,127,090 Joined:Mar 2006	Message Posted: Jul 5, 2009 11:37:53 AM Ignore no_monkey2002 Report Abuse everyone wants more money so see OBAMA he is the controller of the usa money
LocalSpyGuy Champion Author Tampa Posts:2,952 Points:617,185 Joined:Nov 2008	Message Posted: Jul 5, 2009 11:35:34 AM Ignore LocalSpyGuy Report Abuse Sounds like they have a problem.