Oil producers are colonial exploiters: P Chidambaram

In sharp criticism of oil producers and the current petro prices, India’s Union Finance Minister P Chidambaram on Saturday compared the producers to “old colonialists who exploited developing countries”.

..”What is the difference between the old colonial regimes, when colonial powers exploited the colonies, took away their cotton, took away their iron, or took away their mineral wealth and left them de-industrialised? What is the difference between that and today, when all oil-importing countries are being impoverished? Three years ago, the price of oil was $28 a barrel,” the Minister said.

Hindustan Times