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27/11/2021 - Energy

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November 27, 2021

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.

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IAS Parliament 3 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 3 years

kindly review and provide suggestions sir 

IAS Parliament 3 years

Try to include data to support your arguments. Keep Writing.

K.JEEVAN 3 years

Please review and give your valuable suggestions

IAS Parliament 3 years

Try to include data to support your arguments. Keep Writing.

K. V. A 3 years

Kindly review

IAS Parliament 3 years

Good attempt. Keep Writing.

Shubham 3 years

Please review and provide valuable comments.

IAS Parliament 3 years

Try to provide conclusion and include data to suport your arguments. Keep Writing.

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