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Crash depression market stock during the great depressionCrash depression market stock - Canadian prices wenthigher from 1926 and declined further from their ... By the end of September, Bank of England gold stock was down to $640 ... Read full post here. (c) About the Great DepressionDuring the next three years stock prices in the United ... to the value of gold, governments were committed to maintaining fixed exchange rates. However, during the Depression ... Read full post here. (c) Skyrocketing Fuel Prices - The ATF (Aviation Turbine Fueol) EffectPhrases such as 'adding fuel to fire' and 'fuelling speculations' may be too costly to utter at anybody's whim at a time when the whole world is reeling under a severe fuel crisis. Prices of fuel irrespective of the end use have become dearer - be it Liquefied Petroleum Gas for cooking or gasoline for cars or flying machines. Nations like India have never seen such a onetime increase in gas. The jack-up in prices of petrol is a recipe for intensive attacks by political opponents against Indian rulers. Maybe this is the buzzword for a ubiquitous political attack by opposition parties all over the world as the issue is assuming gargantuan proportions. Crude oil has become an ogre of sorts in the global fuel scene. Rising costs of ATF (Aviation Turbine Fuel) is thinning the wallets of passengers in air traffic as also air carriers, which is prompting the managements to reduce the number of flights. In the Unites States air, travel has become inevitable for couples, many of whom are youngsters separated by education and jobs that necessitate frequent flying at weekends. The rising fuel costs have become a deterrent for such people - and regular flyers in general, because of the sharp escalation in fuel prices. A case in point is the cancellation of the cheap and direct route flight from Boston to Philadelphia by the airline Airtran. The carrier was constrained to cancel the flight because of the skyrocketing gas prices. The passengers are forced to either cut short their number of visits or endure the most of shelling out hundreds of dollars extra - to keep going steady with their relationships and meeting schedules. Reports reveal how a passenger takes a train to Providence, a bus to T.F.Green Airport, and flies Southwest Airlines for about $160 dollars each visit - in order to avoid $300 plus roundtrip flights on other airlines. There has also been an indirect rise in expenses since part of the journey goes in driving to Airports due to cancellation of flights like Airtran. Driving to Manchester and parking at Manchester Boston Regional Airport causes an additional dent in the pockets by way of a $10 parking fee a day, which commuters reportedly lament. Experience in bus commuting has also become costlier as the bus fares had raised again. And the culprit is the much sought after gas. According to IATA (International Air Transport Association) figures, 24 air carriers have clipped their wings across the globe because of burgeoning ATF prices. The scene is worse in India, where 40% of operating costs go for higher taxes. It is small relief that to cope up with the soaring ATF prices, the government of India has reduced the Customs duty from 10% to 5%. Sadly enough, Air India has taken another beating in that the United States based reputation institute, which conducted and annual global survey 'Global 200' has concluded that Air India has the weakest corporate reputation. State run oil firms in India have hiked prices of ATF by 18.5%. The cost of ATF per Kiloliter in Delhi has gone up from $1390.48 to $ 1648.26. In Mumbai, jet fuel prices went up from $1543.45 to $ 1824.40. Air India recently announced an increase in the fuel surcharge in 2 slabs; For domestic travelers at the rate of Rs.300/- per passenger for flights that have destinations up to 750km and Rs.550/- per passenger for over 750 km. Private Air carriers have followed suit with Deccan and Kingfisher Airlines hiking surcharge between Rs.300-Rs.550/-.With this hike, passengers in India would be charged Rs.2250 and Rs.2900 for journeys up to 750 km and beyond 750 km respectively. Commercial sources say the rise is a whopping 220% in 2 years, though only 8% to 10% is passed on to consumers. Significantly, there has been a global price in ATF in the last couple of months. This has led to many international air carriers curtailing operations. Sources reveal Airlines in India have lost Rs. 4000 Crore in 2007 -2008 due to rising oil prices. A never-before scene is being witnessed in the media with many a tip on saving fuel, which suggest the likes of traveling together, cycling for short distances, planning multitasks in a single trip etc. While Virgin Galactic, the reputed airline has made a trial with bio-fuel, controversies exist among the intelligentsia about its continued success. The meeting of the G-8 nations joined by India, China and South Korea at Aomori in Japan focused on the importance of renewable energy sources to tackle the problem of fuel production. The gravity of the global situation regarding fuel was well understood, when the US Energy Secretary Samuel Bodman advocated aggressive investment in renewable energy and augmenting conventional hydrocarbon sources. The development of alternative fuels is still in the nascent stage and one only hopes that a day may come, when the dependency of fuels such as petrol and diesel plummets to the barest minimum. Let us hope we bask in the glory of fuel prices of the bygone eras, which would lessen the burden of travel and increase the pleasure of being on skies of idyll. About the Author Venkat Ramamurthy is a Freelance Writer from India and writes on different topics. He has a Diploma in Freelance Journalism from The Writers Bureau College of Journalism, Manchester, UK and has a Gold Seal Certificate of Achievement as Published Writer from Writers Bureau, Manchester U.K He has several published works to his credit. His maiden work 'One Indian's View of Diet: How Food Habits Can Make or Break a Person' was published in 'The Positive Health' published from Portsmouth U.K. His travel articles 'Legacy of City of Pearls', 'The Seat of Nawabi Culture' and articles on social malice 'Far from Maddening Crowd', 'Operation Crush' were aired in the web portal hyderabadnews. Murthy's travel article Tranquebar- The Danish Connection can be viewed in http://www.worldpress.org in the Asia section. He has written for interlinkcity and was selected as their 'Favorite Freelancer' for the month of December 07. He posts on health related information at http://www.food-health-lifestyle.blogspot.com His contact e-mail is caduvetimurthy@yahoo.com
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