During the second half of last century,the statement that " Coal is King" was
widely accepted all over the world. Coal was also being referred
to as Black Gold.I got some insight into Coal Mines and Miners
after watching a movie "Kala Pathar" directed by Yash Chopra.
Both Amitabh Bachan and Shatrugan Sinha had acted as miners
in this movie. After watching the movie,when I cam out, I felt as if
my clothes had become dirty. Such was the impact of the film on me.
A small diversion, before I elaborate on the caption "Coal is King".
On 10th October, I was travelling to Mumbhai from Bangalore
by Jet Airways.After taking my seat, I casually looked at
what was written on the back of the Boarding Pass.It revived
some past memories. Here is what was written on the back of the
Boarding Pass:
"No matter how far you go
Remember where you are from"
How true is this statement! I began to reflect on substantiating
this statement from my past experience.How may people remember
their roots after they become wealthy and successful.My immediate
thought was about a friend of mine, three years senior to me in school.
He was extremely poor till the age of nineteen before he left for
Delhi.He became so successful and wealthy that on his 60th birth-day,
he gave 60 silver plates weighing 750 gms each to sixty priests.
I was wondering why he had splurged his new found wealth. Perhaps,
it was to prove to his village folks that he had "arrived". He could have spent
half of this money on feeding his poor villagers.
Can you name one person who till to-day remembers where he came from.
His humility is worth emulating. He is none other than Dr Abdul Kalam,
former President of the country. I had the good fortune of meeting him
in a marriage function in Mumbhai.
Now back to "Coal is King". India!s requirement of Power is huge.
As of now, there are power cuts in all cities of India.It varies from
state to state--one or two hours in some cities and about eight hours
in Patna and quite a few other cities.Realising this,the Central
government had sanctioned a number of coal based power projects
in the country.The breakneck speed with which new capacity is being
commissioned is tremendous,There are serious doubts about whether
all these new projects will get coal,following the coal-gate scandal.
On the ground,there are doubts about whether this capacity addition will
truly translate into" electricty for all",There are very serious issues
associated with power production and distribution,besides ensuring
adequate coal supply.The worry then is that if these issues are not
addressed adequately,in less than half a decade,there could be a situation where
a majority of stake holders in the power sector could be deep in red--
be it project developers,banks and financial institutions,transmission firms
and others.
It was said that relying on imported coal could be a disaster.It is therefore
very necessary for the Government to sort out the issues and ensure that
the new power projects get adequate coal supply. Time is running out.
What is happening in the rest of the world to coal-based power projects.?
The most famous coal-based power project is based at Kingston,Tennesse.
Albha Natural Resources is closing down eight mines resulting in loss
of 1200 jobs.Everywhere, natural gas, is taking over as primary fuel for
electricity generation.In Chicago, the FISK and Crawford coal plants-
the last within an American city-closed down in August.
In Australia,it is reported that 3000 jobs have been lost because of closure of coal
mines. In China, 625 coal mines have been shut down in the last year.
Worried over environmental pollution, advanced countries are switching over to
gas-based power projects.
Under the circumstances, I wonder for how long coal will remain king.
On my return flight on the same day, I read an interesting article
titled "Big billionaire behind Mitt romeny" The article was about Joe Ricketts,
a multi billionaire founder of Ameritrade. He eans huge money through brokerage
and commissions. Unliked Warrent Buffet, Mr Ricketts
has quite a few huge mansions and a very big flat in new York. With all his wealth,
he failed to become a Republican Senator. Now, he is throwing his weight and wealth behind
Mitt Romney,for American Presidency.
Once, Tom Ricketts,son of Joe, was asked whether his father has any hobbies.
He replied "My father has no hobbies-he has only passions"
Joes!s current passion is to ensure victory for Mitt Romney.
There is no denying the fact that money is required to win elections. It is true
all over the world. While in India, money is used to bribe voters, elsewhere,it
is used for different purposes. We have to concede that money brings power
and power brings money.
It is a vicious circle
V.K.Balasubramanian
11th October 2012
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