Courtesy: KNN
The UAE’s recent exit from OPEC, and the U.S. push to sell more oil to India are markers of a new order in the oil world with demand security at a premium. As a major oil importer, India must respond to it smartly. It must develop deeper partnerships with both the UAE and U.S., and a new financial ecosystem and benchmarks for the new order.
Courtesy: AFR
The Persian Gulf conflict has already impacted India’s oil imports and financial security. However, India has not created meaningful options to protect itself from oil shocks over the last decade – and such shocks will continue. Now is the time for India to make equity investments in oil and gas companies in stable economies like the U.S., Canada and Australia, to protect itself from future energy crises.
Courtesy: MSN
The war in the Persian Gulf has already caused significant disruption in India’s South Asian neighbours. A prolonged conflict is likely to push the region back into economic and political crises from which it had been hopeful of emerging this year.
Courtesy: millerm217/Flickr
India’s extreme dependence on imported energy often renders our economy vulnerable in the face of geopolitical changes. Given the high financial viability, India, being the world’s second-largest producer of sugarcane, should emulate Brazil by replacing petrol with ethanol as fuel.