I was searching for a safe place, where i could keep my most valuable possession right now. No; its not the diamond i brought for my girl friend, something more valuable! I am talking about the barrel of petrol i received as my birthday gift from Jaber al-Ahmad al-Jaber al-Sabah-the sheikh of Kuwait.
Is it possible for me to open a bank account and deposit oil in it instead of money? They give me an ATM card to withdraw oil from petrol pumps, give me “interest” in the form of oil if i keep my oil in their bank for a long time and may be “power petrol” as complement for premium oil account holders?
When i was born, records says in 1989 the price for a litre of petrol was 8 rupees and 50 paise. If some one then had put 100 liters of petrol as “fixed deposit” in my name for 20 years at an interest rate of 8.75 %, by now, i would have petrol worth 20K ! Alas! Nobody did that then!
Anyways, Its okay for me since i have friend of mine in Kuwait (I mentioned above) who occasionally gifts me barrels of oil. So i am safe. May be some of my good friends are also safe, since i can lend them oil at subsidized rates. Also there are many like myself in New Delhi who has friends who can “gift” them oil. So they are also safe. But what about the others? If you are one among the “others” probably you should contact your bank and ask for a new account. One day you can buy a car by selling your petrol! Anyways…
Oh wait…Today somewhere i read our finance minister-Pranab Mukherji telling that its the oil companies who decide the price of petrol and Govt. had nothing to do with it, I was just wondering how it would be for him if the people decide how much tax they should pay. Hope Govt. will not have anything to do then too.