The freeloading press continually highlights, what it calls, subsidies on petroleum products. We are told how the Oil Minister, Mr. Deora is fighting to decontrol prices of petrol and diesel at pumps so as to reduce gigantic deficits being piled up by Indian oil companies. That all these are total lies is proven by the fact that petrol costs almost double in India compared to the US where prices are completely free to reflect international prices. So how is it possible that our bleeding heart government is helping us with subsidies and yet we pay double of rich yankees? Of course, what the press never says is that oil is heavily taxed so the so called subsidy is a complete lie. In this year's budget the Finance Minister has further increased taxes on petrol which will probably increase pump prices by another Rs. 3. Apart from the inflationary cost this will do nothing to improve finances of oil companies. The government owns major parts of these companies so will lose out on dividends if they run losses. However all the companies, Indian Oil, BPCL, HPCL and ONGC have minority shareholders who will lose dividends and also because stock prices are declining. By getting its money from taxes and foregoing dividends government is looting minority shareholders. Sir Conrad Black is serving a long prison sentence for similarly using Hollinger International money for private luxury. Unfortunately politicians in India are above the law and citizens have no power to hold them to account. It remains to be seen if the minority shareholders have the guts to sue the government and force it to deregulate petrol prices. Only then will the lies be exposed.