India needs to expand its energy basket and re-strategize its energy policy by adopting a more integrated approach. Discuss (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· India strongly believes that the pricing of liquid hydrocarbons should be reasonable, responsible and be determined by market forces.
· India has repeatedly expressed concern at supply of oil being artificially adjusted below demand levels by oil producing countries, leading to rising prices and negative attendant consequences.
· The cost at which Indian refiners sourced their crude oil averaged $82.11 a barrel, the price was at about $80.70 a barrel.
· We need to invest more and fast in our crude oil storage capacity, considering our dependence on petroleum products is only going to grow over the next two decades.
· Geopolitical realities in Asia and in the Indian Ocean are getting more alarming by the day, challenging our energy security in terms of maritime supply routes and lines.
· The twin imperatives of growing uncertainties over security of supply and India’s rapidly rising oil demand and import dependence make it crucial for the country to hold at least a month or two of needs in reserve.
· If India wants to use SPR to moderate prices when other avenues of relief are shut or simply as leverage against OPEC.
· Five million barrels is a token gesture, it won't move the needle on global supply.
Cibi Siddharth 2 years
kindly review and provide suggestions sir
IAS Parliament 2 years
Try to include data to support your arguments. Keep Writing.
K.JEEVAN 2 years
Please review and give your valuable suggestions
IAS Parliament 2 years
Try to include data to support your arguments. Keep Writing.
K. V. A 2 years
Kindly review
IAS Parliament 2 years
Good attempt. Keep Writing.
Shubham 2 years
Please review and provide valuable comments.
IAS Parliament 2 years
Try to provide conclusion and include data to suport your arguments. Keep Writing.
