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U.S Energy Secretary to visit India
Context:
U.S. Energy Secretary’s visit to India is scheduled in February
Energy trade with US
- Energy trade had prominently featured in Prime Minister Narendra Modi’s first meeting with President Donald Trump in June 2017
- India had placed a series of orders for American crude in the following months.
- Barack Obama administration had allowed the export of American crude after a break of 40 years
- The Trump administration has removed regulations that had restricted oil and coal production, leading to a ramping up of fossil fuels production in the last year.
- Indian public and private sector companies have invested approximately $5 billion in shale assets in the U.S
- Natural gas imports from the U.S are also on the rise
Why has the Civil Nuclear Deal become redundant?
- Change in market conditions
- Introduction of new technologies
- Emphasis on trade in fossil fuels under Trump administration
Importance of India-US Energy Trade:
It is an important area to focus on to reduce the trade imbalance between
