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Indian Economy - Discussion

edited January 2015 in Miscellaneous
Oil prices hit fresh 5-1/2-year lows

http://articles.economictimes.indiatimes.com/2015-01-05/news/57705699_1_oil-demand-stephen-schork-oil-prices

my question is :

In the developed world current low oil prices are attribute to rivalry between US and Canada one hand, which producing 'shale gas' as an alternative to oil. As Saudi Arabia and other countries stepping up production and reducing prices of oil, so that 'shale gas' doesn't became ever alternative. Do you think this kind of competition is sustainable and how this effect India ??
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