OIL IMPORT BILL

United States of America is reported to be seriously considering taking action
against Syria for their alleged use of chemical weapons. This may have a great
impact on the price of oil.There are speculations that the oil price may go upto
$150.This is the time for the government of India to seriously think of investing
in exploration of oil and gas. As our import bill for the oil import is soaring,
the need of the hour is to find new alternate energy sources. As we have a huge
reserves of coal,methanol can be produced even from coal,it can be one such
alternative.Next is the use of Ethanol  as we are also a large sugarcane 
producing country.As a national policy,Brazil blends oil with sugarcane 
based alcohol i.e ethanol fuel blend between 20-25%(ethanol) based on
sugarcane harvest. According to some reports 80% of the cars in Brazil can
run on blended fuel making the country as the second largest producer of
ethanol. India can also seriously think of oil import from Brazil instead of
totally depending on the countries in the Middle East.