Asia News

Death of Laden and It’s Impact on Global Oil Prices and India

People were anticipating that following the death of Al-Qaida leader Osama Bin Laden, there will be changes in world terrorism. Either there will be an increase in bloodbath or the terrorist organizations will become weaker because of the death of their biggest leader.

But what followed after the death of Osama Bin Laden was beyond everybody’s expectations. None imagined that death of Osama can have an effect on the movement of oil prices in the world. And that has exactly what has happened and this has really taken the critics by surprise.

Following the death of Osama Bin Laden, crude oil prices have started falling all over the world. For the past few months, global oil crude prices were moving in the northward direction and this was becoming a matter of great worry to many nations including India. From $114 a barrel, global crude oil price came down to $112 within three days of Laden’s death.

The Indian oil companies have also deferred their meeting on rising oil prices which was scheduled to be held on May 11th for a rise in the prices of oil, diesel and cooking gas. The oil companies are claiming to be bleeding and they are asking for financial support from the Government exchequers.

Traders in the Middle East are in a happy mood to invest as they feel that following the death of Laden, outfits of Al Qaida have become much weaker and in absence of their mastermind, they are not in a position to do counter attacks on their establishments and the government.

In addition to the business front, death of Osama Bin Laden may also have long lasting effects on the Indo Pak ties. Hiding of Laden in Abbottabad in Pakistan has led to the Indian demand of their long claim that many international terrorists are also hiding in Pakistan, living in the comfort of their shelter. Since long, India has been insisting on the fact that the mastermind of 26/11 operations and other attacks have found their sanctuary in Pakistan.

India is also worried on the fact that following the weakening of the Al Qaida forces, US may withdraw their army operations in Afghanistan and that is against the interests of India’s foreign policy. Report released by the CRS, an independent research wing of the US Congress, has stated that India does not want a Kabul government which is very much friendly with Islamabad authorities. If the Kabul government maintains a hostile relation with the Islamabad authorities, Pakistan will be under tremendous pressure from their northern border.

India prefers to stop the resurgence of Islamic extremist groups in the land of Afghanistan and they feel, it may happen if Pakistan military can gain excessive control on the group which spearheads the anti Taliban campaign.

The finding of the hideout of Osama Bin Laden in Pakistan has given a shot in the Indian demand that terrorists like Dawood Ibrahim are being kept hidden in Pakistan. India also firmly believes that the Lashkar-e-Taiba terrorists made their entire plans of the 26/11 Mumbai attacks sitting in Pakistan and it is time for Pakistan to hand them over.


JIT Mukherjii
After completing his MBA in Financial Management, he decided to shift to writing and took it as his full time career. Being the Editor-in-chief of this web magazine, he has got diverse interest in the field of politics and business related matters.

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