Country Risk

India's Energy Security Rests on Fossil Fuels

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Smog,Pollution,Emissions,Refinery,Carbon,Nonrenewable
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India is crafting a new energy security doctrine that in the short term leans heavily on polluting fossil fuels, including coal, oil and natural gas — a path eased by access to discounted Russian crude. Renewables, battery storage, green hydrogen and electric vehicles (EVs) are in the back seat, despite Prime Minister Narendra Modi’s government setting ambitious green targets, and trumpeting India’s clean air credentials at various public forums. In private, government officials admit that green power poses limitations with respect to tariffs, access to raw materials and availability of capital. This is prompting a turn back to more polluting alternatives, particularly domestic coal resources, in the short term — with sustainability taking a hit in India’s energy security policies.

Topics:
Policy and Regulation, Coal, Oil Demand, Crude Oil, Energy Storage
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