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The OPEC’s proposed cut in oil production earlier this week may not enable the energy market to recover. Recovery is likely only after COVID-19 is brought under control, but there are ways India can capitalise on the current low oil prices for its own energy security
Cyrus Rustomjee, Senior Fellow, Global Economy Program, Centre for International Governance Innovation, Canada, spoke to Gateway House on how the Blue Economy offers exciting opportunities to even the poorest developing countries to eradicate poverty
Courtesy: Gateway House
Trends in technology, geopolitics and geoeconomics have dramatically transformed the global energy scenario in the last two years. This means favourable conditions for import-dependent India, which must use the opportunities available to reduce its vulnerability to high energy prices. The jump in oil prices past the $60 mark suggests that India must act with alacrity. India’s Energy Footprint Map offers a profile of India’s global trade and investment in energy, and indicates what India can do to access cheap and reliable supplies
Though some countries like Russia gained a strong foothold in Central Asia and the Caucasus post-1991, India has been a late-comer. Gateway House interviews former Ambassador to Azerbaijan Debnath Shaw to discuss India’s energy interests in the region, the Shanghai Cooperation Organization and the TAPI pipeline.
