This refers to the report “Diesel sales at RIL outlets close to nil” (October 24). The time has come for RIL and other private oil companies to get into the biofuel and biodiesel business. Public sector undertakings and the ministry of petroleum and natural gas should promote ethanol purchase and biodiesel production. This can be an effective solution to combat the subsidy given by the government to public-sector companies in lowering their diesel prices since ethanol prices are at Rs 25-27 per litre, making it a cheaper alternative. Hence, by purchasing and promoting the production of ethanol and biodiesel in the country via contract farming, oil majors can not only match or lower their retail prices of diesel and petrol in the country but also help reduce greenhouse gases and India’s crude oil bill.
Amarjeet Singh, New Delhi
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