Under Water Oil Spill - Yuk!

[Mr Ontario]

http://news.yahoo.com/video/us-15749625/cousteau-jr-this-is-a-nightmare-a-nightmare-20009724

[Mr.Freeze]

ive been keeping track of all that bullshit everyday and its just getting out of hand, for those who wants to follow the story here the live feeds

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/homepage/STAGING/local_assets/bp_homepage/html/rov_stream.html

[cog]

All those ****tards berating the Alberta oilsands are rethinking matters.

[GYMBRAT]

nows the time to buy shares in them oilsands boys and girls!! trust me ;)

......it sickens me!

[Talo]

http://www.wimp.com/solutionoil/

Now this is a great way to clean up that mess.

[MMASTAR]

its insane the amount of oil ging int the ocen, they originally thought 5000 barrels a day but they came out and said they underestimated and its more like 12000 - 19000 barrels a day, thats almost 900000 barrels already, its wasing up on the shores of 4 diffrent states and has made its way into the gulf stream which will carry it to all the other oceans in the world... what a huge **** up. I fel sorry for the animals and our environment, they said something like 160 dead se turtles washed up on shore this month alone... im no tree hugger but this is ridiculous... we are ruining our planet..

[BAM]

We aren't ruining it..

The rich & greedy are.

[faller]

We aren't ruining it..



Yes you are, as long as you are a liveing, breathing human on this planet you are haveing an impact. Beratting the "rich and greedy", recyling your news paper and pop can's only appeases your guilt ridden conscience.

On a more serious and important note, whats this going to do to the gas prices? :eek:

[natenator]

nows the time to buy shares in them oilsands boys and girls!! trust me ;)

......it sickens me!
Why the oilsands?

They can have just as big of an environmental disaster as offshore drilling.

However, my money will be buying up BP stock once I feel they've bottomed out. They will survive just like Exxon has and I'll be happy being a greedy prick to try and cash in on their current misfortunes :D

[ironwill]

Oilsands is capable of disaster, and is contributing to negative effects as we all know, but i highly, highly doubt they are capable of even close to this extent of a disaster....Whats going on at BP, is friggin scary, we havent even began to see the negative effects yet, and they still cant slow it down!!
Oilsands is definitely going to prosper with this.......i work in an industry that is related to the oilsands, and we are sold out for the next 4 years, actually well beyond sold out and have to bring in another branch of the company to help meet quotas.....

[natenator]

it should be noted that while this disaster is bad on so many levels maybe it doesn't take a rocket scientist to now realize why gas prices are as high as they are.

factor in potential disasters like this; R&D costs; operational costs, etc. I certainly can see why gas costs what it does.

Hell, some wells just to test drill to see if there is any gas to begin with cost boatloads of money. How many people would be willing to invest $100MM or more on a "what if". No risk, no reward and these companies take huge risks. They deserve their rewards in my opinion.

And yes I still bitch when gas is high but at least I can understand some of the reasons why.

[ironwill]

Gas is high, but the reason the majority bitches is because of the extras, taxes etc.......The cost of the product is decent but tax is a quartr of the price.......

http://gaspricesaretoohigh.com/prices.php

[Victor85]

I am telling you guys, 2012 is coming soon. But I wont be here cause of the Rapture.

[faller]

However, my money will be buying up BP stock once I feel they've bottomed out. They will survive just like Exxon has and I'll be happy being a greedy prick to try and cash in on their current misfortunes :D

Excellent idea!! They're already down 40%,,,,,i'm going to be a pig and wait till it goes down another 20% :p

[GYMBRAT]

Oilsands is capable of disaster, and is contributing to negative effects as we all know, but i highly, highly doubt they are capable of even close to this extent of a disaster....Whats going on at BP, is friggin scary, we havent even began to see the negative effects yet, and they still cant slow it down!!
Oilsands is definitely going to prosper with this.......i work in an industry that is related to the oilsands, and we are sold out for the next 4 years, actually well beyond sold out and have to bring in another branch of the company to help meet quotas.....

took the words right outa my mouth my brutha!! :D

....but I agree with nates thoughts on the BP stocks as well though haha ;)

[Mr Ontario]

finding gas prices reasonable. 87 here.

[faller]

Not bad, 1.08 here which is down from 1.12 a few days ago.

[turboturist]

it should be noted that while this disaster is bad on so many levels maybe it doesn't take a rocket scientist to now realize why gas prices are as high as they are.

factor in potential disasters like this; R&D costs; operational costs, etc. I certainly can see why gas costs what it does.

Hell, some wells just to test drill to see if there is any gas to begin with cost boatloads of money. How many people would be willing to invest $100MM or more on a "what if". No risk, no reward and these companies take huge risks. They deserve their rewards in my opinion.

Some of the spread costs we are seeing on the wells I am doing in Brasil are 1.2 to 1.4 million per day. Yes you read that right, per day.

We just finished one that had some problems and in 6 months it was over 600 million and dry. They will see no return on that.

[faller]

This pic was used in their 1999 ad campaign, thought it was pretty funny!
http://i118.photobucket.com/albums/o113/faller11/random%20shit/ZSPKG.jpg

[Talo]

Not bad, 1.08 here which is down from 1.12 a few days ago.

WOW , you are def getting ripped !

We're sitting around .87 - .92

[rob66679]

it should be noted that while this disaster is bad on so many levels maybe it doesn't take a rocket scientist to now realize why gas prices are as high as they are.

factor in potential disasters like this; R&D costs; operational costs, etc. I certainly can see why gas costs what it does.

Hell, some wells just to test drill to see if there is any gas to begin with cost boatloads of money. How many people would be willing to invest $100MM or more on a "what if". No risk, no reward and these companies take huge risks. They deserve their rewards in my opinion.

And yes I still bitch when gas is high but at least I can understand some of the reasons why.

BP made a profit of 68 million per day last quarter. What were they making when oil was $100 a barrell?
6.1 billion in total just last quarter.
I understand its a market driven thing, but they have to much influence over what our governments do.
I don't think 100 million is a really big deal if your BP or Exxon.

And they didn't want to spend 500k for the shut-off device that would have prevented this whole situation. Remember drill baby drill? Trying to convince people that drilling in the arctic is a safe thing to do? They have no idea how to stop this leak, they're just guessing and trying to pacify everybody.
They ( BP ) vastly underestimated the amount of oil coming out, and now its coming out that they were basically bribing the people that were supposed to be doing the safety inspections.

As the resident communist of this board, I say **** all big business period.
Business does whats good for business, not whats good for the people or the nation. Its the Governments job, as representitives of the people, to do whats right for people.

[faller]

WOW , you are def getting ripped !

We're sitting around .87 - .92

I honestly can`t remember when our gas was below 90 cents..

[faller]

Business does whats good for business, not whats good for the people or the nation. Its the Governments job, as representitives of the people, to do whats right for people.

LMAO!! Ya worked like a charm in former soviet russia. **** you commie`s are delutional.

Buisness is shareholder`s, you and me, not some unknown entity. Grow up!

[rob66679]

LMAO!! Ya worked like a charm in former soviet russia. **** you commie`s are delutional.

Buisness is shareholder`s, you and me, not some unknown entity. Grow up!

What was I thinking, your right faller.
Big Business shouldn't be regulated at all, it did such a good job of regulating itself right before the mortgage crisis set off the recession, and its doing a great job now in the Gulf of Mexico.

Whats good for your stock price isn't good for the gulf of mexico, and it sure as **** wasn't good for our economy over the last year and a half either.
Both are results of a lack of Government regulation because Big Business had too much money in our Governments pockets.
Take the attitude back to CM, I'm sure theres a schill or 2 there that needs a moderators help when he gets called out on his bullshit.

[faller]

Let me reiterate, Soviet Russia crashed because why? Gov. control!! Cuba is a cesspool, why? Gov. controll!! China is a hellhole, why? Gov. controll!! To name a few.

If that is your idea of a utopia move there! Don't preach that shit here when your stomach is full, money in the bank, probably a decent job, the freedom to chose to do what you want, to vote and to piss, moan, grumble and groan all of which you wouldn't have the freedom to do in any of those Gov. controlled countries...... Like i said, grow the **** up..

[natenator]

Let me reiterate, Soviet Russia crashed because why? Gov. control!! Cuba is a cesspool, why? Gov. controll!! China is a hellhole, why? Gov. controll!! To name a few.

If that is your idea of a utopia move there! Don't preach that shit here when your stomach is full, money in the bank, probably a decent job, the freedom to chose to do what you want, to vote and to piss, moan, grumble and groan all of which you wouldn't have the freedom to do in any of those Gov. controlled countries...... Like i said, grow the **** up..
well said.

[natenator]

The rich & greedy are.

What I find funny is a union supporter talking smack about being greedy.

Pot or kettle. Which one are you?

[GYMBRAT]

they should never ever have prevented that well from burning off into the atmosphere, plus their insurance company that insured that particular well will be incurring 90% of this disaster trust me.

[natenator]

they should never ever have prevented that well from burning off into the atmosphere
huh?

[physique]

i dont understand how there is no back up plan for such a disaster?

[rob66679]

Let me reiterate, Soviet Russia crashed because why? Gov. control!! Cuba is a cesspool, why? Gov. controll!! China is a hellhole, why? Gov. controll!! To name a few.

If that is your idea of a utopia move there! Don't preach that shit here when your stomach is full, money in the bank, probably a decent job, the freedom to chose to do what you want, to vote and to piss, moan, grumble and groan all of which you wouldn't have the freedom to do in any of those Gov. controlled countries...... Like i said, grow the **** up..

Obviously pure communism is a bad thing.

Heres the best analogy I can think of..... Say theres a board.
On this fictional board, theres sponsors who are deliberately misleading others in hopes of profiting from their lies.


Now, as this board claims to have the best interest of the BB community in their hearts, would it not be the moderators job to filter those lies and protect the community? The moderator is basically the role of Government on the board right?
But, just like BP throws $$$ at the Politicians so they can break rules and shaft people, the lying sponsor is allowed to lie to people for profit because they give "contributions" to the moderator.
Not all of them, just enough of them to gain the protection they need to continue lying to people.

Whats good for business isn't always whats good for the community.

[faller]

they should never ever have prevented that well from burning off into the atmosphere, .

I'm also curious what you mean GB. Not all that familiar with the oil industry.

[AlbertaBeef]

I'm also curious what you mean GB. Not all that familiar with the oil industry.

Some experts on this "accident" are out of Calgary, particularly Safety Boss who were over in Iraq when the wells were set on fire. One of the head of the teams that was sent over said on TV he was baffled why they would have put the fire out. He said the fire burns all the hydrocarbons off almost eliminating the spill and would allow time for a directional drilling operation to establish and relieve pressure of the leaking well and direct the flow to the new well site. The whole operation would have taken around a month to complete.

[turboturist]

i dont understand how there is no back up plan for such a disaster?

In a deepwater environment there are back ups to the back ups most of the time.

This is 100% human error. They continued their operation knowing there was something wrong with the BOP's and you cannot displace a 16.0 pound per gallon fluid with an 8.5 pound per gallon fluid without making sure those cement plugs are set and tested..... BP killed those guys as far as I am concerned and should not be allowed to operate again.

[turboturist]

From a recent email.

I’m sure you have been following the events. Not a minor piece of simultaneous operations. Usually having two vessels operating at 500 m apart is considered a SimOps and needs to go through a fair amount of risk assessment and marine control. In this case you are looking at 9 major operations. I hear they are spending (loosing) close to US$60MM per day. Watch out for your insurance premiums.

[turboturist]

What it looks like underwater, animation.

[Mr Ontario]

Agreed ed :)


In a deepwater environment there are back ups to the back ups most of the time.

This is 100% human error. They continued their operation knowing there was something wrong with the BOP's and you cannot displace a 16.0 pound per gallon fluid with an 8.5 pound per gallon fluid without making sure those cement plugs are set and tested..... BP killed those guys as far as I am concerned and should not be allowed to operate again.

[Talo]

http://www.wimp.com/oilspills/

History repeats itself over and over again... How many times does this have to happen before they learn how to stop it.


Relief Well !!!

[Mr Ontario]

Defiantly seems to be a pattern going on.


http://www.wimp.com/oilspills/

History repeats it's self over and over again... How many times does this have to happen before they learn how to stop it.


Relief Well !!!

[tiramisu]

Anything over about .10 a gallon is ass rape. We need to nationalize our oil and gas, kick the americans out and charge market prices externally.

[cog]

Anything over about .10 a gallon is ass rape. We need to nationalize our oil and gas, kick the americans out and charge market prices externally.

The east wasn't interested in developing western oil when they could buy cheap middle eastern oil.How would you go about booting the Americans and keeping free trade?

[turboturist]

Anything over about .10 a gallon is ass rape. We need to nationalize our oil and gas, kick the americans out and charge market prices externally.

We had a national oil company, it was called Petro-Canada until the government sold it.

[faller]

We had a national oil company, it was called Petro-Canada until the government sold it.

Yes and they ass raped Alberta...

[tiramisu]

free trade? Is that where we give the u.s. things for free?

[Talo]

free trade? Is that where we give the u.s. things for free?

They come in and steal it then sell it back to us at double the value .

[natenator]

here we go. free trade whiners

[Talo]

Who's whinning ? Just my opion.

BTW where does your paycheck come from because mine comes from the US.

Any real job I have had in my adult life has always been owned by a US company.

[tiramisu]

So let's see. We nationalize our natural resources including food and water, provide these at cost to our citizens and sell at market to foreigners.

Similar to winning lotto 6/49 for every citizen of canada. Instant removal of any need for silly things like income tax or poverty.

**** free trade thank you very much.

[rob66679]

Yes and they ass raped Alberta...

Thought you liked doing that?

[faller]

Only one problem with that t, you'll end up with the same result as when oil was nationalized, larger trade deficits, larger federal budget deficits, higher 'real' interest rates and higher inflation.... Basically we'd be ****ed.

[rob66679]

Interesting thought though.... Seems like the vast majority of investment in the oil industry is from companys not based in Canada....
So basically we are allowing them to take profits out of Canada? We get the spin off, but we are losing on our own resources?

I'm not saying Government is the most effective way of running a business....but..... since its our natural resource shouldn't we all benefit from it?

[faller]

Interesting thought though....

Umm no, simple economic's, read quote below again very, very slowly...




larger trade deficits, larger federal budget deficits, higher 'real' interest rates and higher inflation....

[tiramisu]

What part of our iron, nickel, grain, oil, natural gas, hydro electric, softwood, water, uranium would result in this trade deficit you speak of?

We are the opposite of a "have not" country. We should be givinng the UAE and Saudi a run for their money in being the richest ****ers on the planet but instead we are serfs to multi-nationals in our own country.

Sorry but by my sense of simple economics, taking ownership of our resources and selling them to foreigners would result in more than enough money to raise the standard of living obscenely for every canadian, huge federal surpluses and interest rates that were irrelevant because we wouldn't be in debt.

[faller]

What part of our iron, nickel, grain, oil, natural gas, hydro electric, softwood, water, uranium would result in this trade deficit you speak of?

We are the opposite of a "have not" country. We should be givinng the UAE and Saudi a run for their money in being the richest ****ers on the planet but instead we are serfs to multi-nationals in our own country.

Sorry but by my sense of simple economics, taking ownership of our resources and selling them to foreigners would result in more than enough money to raise the standard of living obscenely for every canadian, huge federal surpluses and interest rates that were irrelevant because we wouldn't be in debt.

Look t all i'm saying is that when we did exactly what you think should have improved our standard of liveing the exact opposite happened.. I'm not makeing this shit up, its a historical fact, and you want us to repeat it?

Don't beleive me, ask the Cubans, Chineese ect..

[rob66679]

Look t all i'm saying is that when we did exactly what you think should have improved our standard of liveing the exact opposite happened.. I'm not makeing this shit up, its a historical fact, and you want us to repeat it?

Don't beleive me, ask the Cubans, Chineese ect..

China and Cuba are not exactly good examples.

China is the fastest growing enonomy in the world. Have you ever seen the trade deficit between the US and China?
China is the next superpower, like it or not. And we are helping them get there.

The American embargo on everything Cuban, even excluding travel, is why Cuba is where it is.
If all trade with the States stopped tomorrow, we would not be much better off than Cuba. Ever see what %%% of our exports go south?

Can't wait to see Oliver Stones movie about Chavez........

[rob66679]

What part of our iron, nickel, grain, oil, natural gas, hydro electric, softwood, water, uranium would result in this trade deficit you speak of?

We are the opposite of a "have not" country. We should be givinng the UAE and Saudi a run for their money in being the richest ****ers on the planet but instead we are serfs to multi-nationals in our own country.

Sorry but by my sense of simple economics, taking ownership of our resources and selling them to foreigners would result in more than enough money to raise the standard of living obscenely for every canadian, huge federal surpluses and interest rates that were irrelevant because we wouldn't be in debt.

Exactly.

Theres not many places on Earth with what we have.

[faller]

China is the fastest growing enonomy in the world. ........

And its people still live in what we would call third world standards....

[cog]

Nobody has mentioned how they would actually "take" control of resources.Are you going to just tell investors to go flock themselves?There would be a trade embargo for sure,maybe worse.Foreign ownership increased dramatically with Mulroney,John Turner was correct in his prediction.

[tiramisu]

Nobody has mentioned how they would actually "take" control of resources.Are you going to just tell investors to go flock themselves?There would be a trade embargo for sure,maybe worse.Foreign ownership increased dramatically with Mulroney,John Turner was correct in his prediction.

Yes I would tell investors to go **** themselves. Buy them out and say good bye. And let's be clear these "investors" aren't investors. They are foreigners who have taken ownership of our land and our property and we didn't even get a ****ing reservation out of the deal.

No one is going to embargo our food, oil, natural gas, and minerals. Guess what? They need them.

[cog]

Yes I would tell investors to go **** themselves. Buy them out and say good bye. And let's be clear these "investors" aren't investors. They are foreigners who have taken ownership of our land and our property and we didn't even get a ****ing reservation out of the deal.

No one is going to embargo our food, oil, natural gas, and minerals. Guess what? They need them.

Buy them out?With what cash?We would be crushed by the interest payments,in fact the powers that be would likely engineer higher interest rates,then scoop them up again.

[rob66679]

And its people still live in what we would call third world standards....

Yeah for now.

Guess who's been lending all the money for the bailouts?
Their basically going through their Industrial revolution right now..... They plan on being able to take on the US head to head 25 years from now..... and their right on schedule.

But, back on subject..... why are other nations profiting from our natural resources?

[cog]

Yeah for now.

Guess who's been lending all the money for the bailouts?
Their basically going through their Industrial revolution right now..... They plan on being able to take on the US head to head 25 years from now..... and their right on schedule.

But, back on subject..... why are other nations profiting from our natural resources?

I am fairly certain China will face off against the U.S sooner than that.Back on subject,I believe the reasoning was that some companies were moving the profits offshore,or registering in foreign lands.Paul Martin comes to mind.

[rob66679]

I am fairly certain China will face off against the U.S sooner than that.Back on subject,I believe the reasoning was that some companies were moving the profits offshore,or registering in foreign lands.Paul Martin comes to mind.

Yeah, never did like Martin.... The guy makes a fortune in Canada but he registers his ships offshore so he doesn't have to pay his share. Legal I guess, but doesn't seem right to me.
I think KC Irving did the same thing......

The whole China thing is kinda scary.... The US has said repeatedly they will defend taiwan with Force..... and sooner or later their gonna have to.

[MuSuLPhReAk]

Deleted a few reported posts with personal attacks on it. Guys keep it clean.

[cog]

Yeah, never did like Martin.... The guy makes a fortune in Canada but he registers his ships offshore so he doesn't have to pay his share. Legal I guess, but doesn't seem right to me.
I think KC Irving did the same thing......

The whole China thing is kinda scary.... The US has said repeatedly they will defend taiwan with Force..... and sooner or later their gonna have to.

Irving was a cheap sob.Did you ever see that little rant on This Hour Has 22 Minutes about him donating the steam off his piss?China is scary because they have a chip on their shoulder.

[faller]

Deleted a few reported posts with personal attacks on it. Guys keep it clean.

Sorry MP, i let my emotions get the better part of me.. Won't happen again..

[Mr Ontario]

Looks like the capped it today :)

[macka]

so how could other countries embargo us? If we shut down oil to the US they'd be ****ed. They'd either give in, or invade. If they invaded it would suck for them, as they could not secure every inch of Canada as its too big. Same reason Germany could never rub out the USSR in ww2.

[tiramisu]

If Venezuala can do it we can do it better.

http://venezuelanalysis.com/news/2245

[macka]

If Venezuala can do it we can do it better.

http://venezuelanalysis.com/news/2245

Exactly

[cog]

so how could other countries embargo us? If we shut down oil to the US they'd be ****ed. They'd either give in, or invade. If they invaded it would suck for them, as they could not secure every inch of Canada as its too big. Same reason Germany could never rub out the USSR in ww2.

The USSR was receiving massive aid from the U.S.And the USSR had armies of squinty eyed little men from the netherlands they could sacrifice.We need to trade to pay our debts...:)

[macka]

The USSR was receiving massive aid from the U.S.And the USSR had armies of squinty eyed little men from the netherlands they could sacrifice.We need to trade to pay our debts...:)

Yea for sure I know that, but even if the Germans had the advantsge, there would always be so many gaps they'd be worn down by the sheer amount of manpower needed to secure the country. Look at Afghanistan, we can't cover everything and the Taliban just moved themsels to a different country to start working out of.

[cog]

Yea for sure I know that, but even if the Germans had the advantsge, there would always be so many gaps they'd be worn down by the sheer amount of manpower needed to secure the country. Look at Afghanistan, we can't cover everything and the Taliban just moved themsels to a different country to start working out of.

Agree.What the Russians did in Chechnya worked,but not acceptable in today's world.Everybody owes money,nobody really know to whom.Declare all debts cleared?The U.S just might do that some day.

[macka]

Agree.What the Russians did in Chechnya worked,but not acceptable in today's world.Everybody owes money,nobody really know to whom.Declare all debts cleared?The U.S just might do that some day.

why not? its only the bleeding heart dumb ****s who think, they are a peaceful people.

[cog]

why not? its only the bleeding heart dumb ****s who think, they are a peaceful people.

The average American feels that they are a peace loving nation...what would a vacuum bring?You might not like it....

[macka]

The average American feels that they are a peace loving nation...what would a vacuum bring?You might not like it....

A vacuum in the Americas? Not likely. Even if the US economy collapsed tomorrow, nobody has enough moxy to invade them as it would cause other nations to prop them up so that any major conflict between other major players would not happen on their soil.

[rob66679]

The average American feels that they are a peace loving nation...what would a vacuum bring?You might not like it....

Thats a really good point.

They say the road to hell is paved with good intentions.

[cog]

Thats a really good point.

They say the road to hell is paved with good intentions.

Exactly.To pick up the pieces after the war,what they did worked really well.They replaced Britain's system with one that was somewhat fairer to many nations.It may have run it's course.

I like the way Lenin views the battles between capitalist countries as just a re division of the spoils.

[cog]

A vacuum in the Americas? Not likely. Even if the US economy collapsed tomorrow, nobody has enough moxy to invade them as it would cause other nations to prop them up so that any major conflict between other major players would not happen on their soil.

A vacuum could develop in many places.Africa,the Middle East.Even if it's not right to be meddling,what could happen if China exerted control?

[macka]

A vacuum could develop in many places.Africa,the Middle East.Even if it's not right to be meddling,what could happen if China exerted control?

Right now fiscally China would take a boot fuc*ing and they themselves would collapse. Africa is a vacuum has been for decades until someone comes along and aligns them and stabilises all the little banana republics, then we need to really be worried. The middle east is more concerned about killing each other at the moment. They blame each other for not rubbing out Isreal, and the in fighting if it isn't pathetic its down right nasty. The Far east will be where my money lays, in India to be exact. They will supercede China shortly with quality and quantity.

[cog]

Right now fiscally China would take a boot fuc*ing and they themselves would collapse. Africa is a vacuum has been for decades until someone comes along and aligns them and stabilises all the little banana republics, then we need to really be worried. The middle east is more concerned about killing each other at the moment. They blame each other for not rubbing out Isreal, and the in fighting if it isn't pathetic its down right nasty. The Far east will be where my money lays, in India to be exact. They will supercede China shortly with quality and quantity.
There are a lot of Indian scientists and engineers working in the telecommunications field in America,yet back home India is still buying equipment from China.China is producing so many gifted students...

[macka]

the only reason for that is at the moment India hasn't even tried to compete in the manufacturing market.

[cog]

the only reason for that is at the moment India hasn't even tried to compete in the manufacturing market.

Can you fill us in on what is holding them back in this department?I know they will need some oil...

[macka]

Can you fill us in on what is holding them back in this department?I know they will need some oil...

well oil and some other raw materials. They have the potential to be our biggest purchaser of raw materials. China does too for that matter. The other factor holding India back is the caste system as a lot of potential brains and skills are waylaid by a set order in their society.