There can be no two opinions about the benefits of a pipeline network for transporting petro products. Questions have been raised over the fact that pipelines would make some of the proposals for inland refineries unviable. But the bigger issue is whether it is in our interest to make huge investments in oil products, when a fraction of these investments in coal would have yielded better results.

Various committee reports have suggested that major Middle-East producers are following a "moderate price, high market share' strategythat will maximise long-term returns. Considering that reserves are finite and the lack of alternatives, prices can be expected to go up in the long run.

On the other hand, it is estimated that with 100 billion tonnes of mineable reserves, there can be a steady coal supply for another 230 years at the current rate of consumption. One can cite the high ash content of coal and the lack of washeries. But if we have a policy of setting up large power plants close to coal mines, we can increase coal consumption and reduce transmission losses. All we would need is investments in washeries-which is peanuts compared to the investments planned in petroleum. Instead of viewing the whole energy problem piecemeal from the point of view of the oil or the coal ministries, it is time the government had a coherent energy policy.