Jump cut: A wellhead of blunders

Why did our market-friendly policymakers revert to the much-maligned administered price only for gas, while batting for market prices for all else? In a classic case of policy capture by a corporate, an effete government got inveigled into impleading itself into the Ambani family feud. On the pretext of gas being a national asset, it bailed out one sibling from both a private commitment and an inconvenient bid at $2.34/mmbtu to the NTPC tender. This also cheated the country of Malaysian LNG at $3.4/mmbtu.

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