For a beleaguered UPA government, increasingly under fire from the Left and the Opposition over galloping inflation, the sharp rise in global crude oil prices couldn't have come at a more inopportune time. The under-recoveries of the oil marketing companies (OMCs) are mounting and there are very real fears that they may soon run out of money to import crude with. Worse, there seems to be no immediate possibility of a respite from high global oil prices, which are currently hovering around $135 (Rs 5,805) per barrel. Global financial powerhouse Goldman Sachs estimates that crude is likely to strengthen further to $200 (Rs 8,600) levels soon. No respite in sightThe time has come to bite the bullet and take some tough decisions. Shielding the economy from soaring crude prices will require substantially higher issuance of oil bonds. But there will still have to be some passthrough to consumers. The Indonesian government, for instance, recently announced a 30 per cent increase in pump prices despite stiff opposition. At the time of going to press, there was speculation in the media about the possibility of a massive increase