{"id":193940,"date":"2022-07-04T20:42:24","date_gmt":"2022-07-04T15:12:24","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=193940"},"modified":"2022-07-05T09:44:02","modified_gmt":"2022-07-05T04:14:02","slug":"after-ukraine-the-new-energy-disorder","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/after-ukraine-the-new-energy-disorder\/","title":{"rendered":"After Ukraine, the new energy disorder"},"content":{"rendered":"\n

News<\/strong>: The Ukrainian crisis has radically altered the contours of the global energy landscape<\/strong>. It has created a tangle of relationships and issues for India.<\/p>\n

What are the issues involved?
\n<\/strong><\/h5>\n

The petroleum market is tight and prices are ratcheting up. For example, Oil prices are close to $120\/bbl.<\/p>\n

India is now a major purchaser<\/strong> of Russian crude. It is now our largest provider <\/strong>of crude oil surpassing Saudi Arabia and Iraq. India ramped up its imports from Russia because Russia offered price discounts and provided an opportunity as a measure of good economics<\/strong> and energy security.<\/strong><\/p>\n

Russia and China have signed a \u201cno limits\u201d partnership<\/strong>. Therefore, China expanded its purchase of Russian oil and gas. Russia has become the largest supplier of petroleum to China. There are doubts, it can act as a client state instead of being politically autonomous<\/strong>, if India\u2019s relations deteriorate on its border with China.<\/p>\n

Our, India\u2019s long-standing \u201cfriend<\/strong>\u201d (Russia) is now in the bad books of our other friends (the US and Europe) and in a deepening relationship with our adversary<\/strong> (China).<\/p>\n

At present, there is no executive authority<\/strong> responsible for energy in India. There are ministries responsible for components<\/strong> of energy policy. There is no formal mechanism<\/strong> to align their separate approaches.<\/p>\n

Way Forward<\/strong><\/h5>\n

The Gulf Countries have a lot of importance in the reordered post-Ukraine energy landscape<\/strong>.<\/p>\n

–<\/strong> For example, The US and several other European leaders are looking towards the Gulf for a promise of higher production to lower oil prices and to negotiate gas supply deals to offset the shortfall out of Russia.<\/p>\n

Therefore, India should also engage with the Gulf producers<\/strong> for supply security<\/strong>.<\/p>\n

The Gulf countries should stay outside both orbits, neutral<\/strong> and opportunistic, <\/strong>instead joining the Russia\/China group, or moving back into the Western fold.<\/p>\n

India should create a mechanism for the development<\/strong> and execution <\/strong>of an integrated energy policy. <\/strong><\/p>\n

The Niti Aayog is well-placed to provide the intellectual basis <\/strong>for designing and developing relevant new institutions. It can play an important role in preparing the road map for developing institutional mechanisms<\/strong> for facilitating a \u201cwhole of the system approach\u201d <\/strong>to energy policy.<\/p>\n

Source<\/strong>: The post is based on an article \u201cAfter Ukraine, the new energy disorder<\/strong>\u201d published in the Indian Express<\/strong> on 4th<\/sup> July 2022<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

News: The Ukrainian crisis has radically altered the contours of the global energy landscape. It has created a tangle of relationships and issues for India. What are the issues involved? The petroleum market is tight and prices are ratcheting up. For example, Oil prices are close to $120\/bbl. India is now a major purchaser of… Continue reading After Ukraine, the new energy disorder<\/span><\/a><\/p>\n","protected":false},"author":10328,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10500],"class_list":["post-193940","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704886045},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/193940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10328"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=193940"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/193940\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=193940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=193940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=193940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}