01-11-04
India should come out of its dependence on oil and gas for energy
requirements and join developed nations in the search for a cleaner, diversified
and renewable fuel, experts said. In the next three-four decades, the trends show hydrogen, which is cleaner
and renewable, will replace oil and gas as the world's main source of fuel, M.S.
Srinivasan, additional secretary, Union Ministry of Petroleum and Natural Gas,
said. Already, the US state of California has announced its conversion into a
“hydrogen economy” in the next six years and 25 % of its retail fuel pumps
will have hydrogen dispensing facilities by 2015. The current rise in crudeoil prices was “impinging” the world economy in
general and the Indian economy in particular. An increase of $ 10 per barrel of
crude would bring down the GDP growth of developing countries like India by 1.1
to 1.13 % per annum, Srinivasan said.
Source: Asia PulseIndia should prepare for a new energy economy
"India will be a laggard in the race and we will be forced to pay through
our nose for proprietary technology if we fall behind (in the adoption to a new
fuel era)," he said, speaking at a seminar organised by the Confederation
of Indian Industry.
"The oil and gas era is coming to an end. The oil-age will end long before
oil reserves are exhausted."
The spurt of $ 25 per barrel in crude in recent times would be felt by the
Indian economy, he said, adding that the "world may not be able to survive
for too long if it continues with its petro-addiction."