Source: Business Wire
Tuesday, October 06, 2009 03:34 PM IST (10:04 AM GMT)
Editors: General: Consumer interest, Economy, Law & justice; Business: Banking & financial services, Business services, Chemicals, Energy companies, Heavy industries
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(BW)(TX-ENERGY-TRIBUNE)Energy Tribune: U.S. Professor Responds to RNRL Legal Team's Letter
Anil Ambani Employs Legal Tactics to Pressure Houston-based Energy Expert to Retract fact-based Analysis of Gas Rights Dispute
Houston, United States, Tuesday, October 06, 2009 -- (Business Wire India) --
Today, Energy Tribune editor and engineering professor Dr. Michael Economides released a letter he received from Anil Ambani's attorneys that demands he retract statements from his recent analysis, "Navigating the Ambani Dispute: Securing India's Energy Future," which examines how the current dispute over natural gas rights may negatively impact India's energy industry, future exploration and ability to attract foreign direct investments.
In his analysis, Dr. Economides makes the case that the Indian government needs to ensure a price that accounts for the true cost of production and development prevails, enabling the country's growing energy market to attract investors and develop over the long-term.
Shortly after publishing his study, the University of Houston professor received a letter from Mr. Ambani's legal team that accuses him of "cleverly and mischievously" formulating his report in order to "disturb and create prejudice in the judicial judgment" expected this month from India's Supreme Court. These accusations are, in effect, a poorly-disguised attempt to censor the critical points raised in Dr. Economides' well-substantiated report.
"The Indian people deserve to hear a broad range of opinion and exposure to data from all sides concerning this dispute over natural gas," explains Dr. Economides. "These legal threats are nothing more than an attempt to divert attention away from an open and honest debate over the future of India's economic development and energy security."
The following points highlight just a few of the claims made by Mr. Ambani's legal team:
- Anil Ambani's legal team states that the report by Dr. Economides levels "serious, false and malicious allegations" against RNRL. The letter accused Dr. Economides of committing libel against Anil Ambani. Clearly, this is an attempt to silence nothing more than a different, substantiated point-of-view.
- The letter claims Dr. Economides' analysis "is obviously calculated to disturb and create prejudice in the judicial judgment," namely the pending Supreme Court case. Dr. Economides' report claims a settlement of the case would open up much-needed abundant and affordable energy and, therefore, the government has a moral responsibility to intervene. The real calculated attempt to sway the opinion of the Indian Supreme Court is Anil's attempt to stifle an open and transparent debate.
- Anil Ambani's attorneys claim that "no part of the dispute...in any way affects the interests of the nation or the energy security of India." This statement lacks validity considering this dispute may prevent the exploration and production of energy resources that will not only generate sizable wealth for the nation, but also make India less reliant on foreign imports. Dr. Economides reports that India remains dependant on coal for 70% of its energy supply and, furthermore, that open access to natural gas is a vital national asset. Proper management of its development is essential for the country's future well-being.
- The letter concludes with demands for Dr. Economides to retract his study and issue a formal apology. These requests by Anil Ambani are intended to shield the public from the case's real facts, namely, that this dispute will retarded the process of exploration and production in the KG Basin.
To speak with Dr. Michael Economides, please contact Charlotte Baker;
+1-713-213-2585 or media@energytrib.com.
Dr. Michael J. Economides is among America's leading energy analysts. A consultant, educator, and PhD petroleum engineer, Economides has done technical and managerial work in more than 70 countries. A professor at the Cullen College of Engineering, University of Houston. Dr. Economides has written or co-written about 200 articles and peer-reviewed papers and 11 textbooks. He also appears regularly on national television and radio programs.
CONTACT DETAILS
Energy Tribune
Charlotte Baker, +1-713-213-2585
media@energytrib.com
KEYWORDS
CONSUMER, ECONOMY, LAW, BANKING, BUSINESS SERVICES, CHEMICALS, ENERGY, HEAVY INDUSTRIES
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