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India Should Focus on Reliable Supply from all Sources: us Energy Secretary

16 May 2018

India should break out from its lure of cheap renewable power & focus on reliable supply from all sources, US Energy Secretary Rick Perry said, emphasizing that energy is the key sector in Washington’s ties with the country that is an attractive market for coal, nuclear plants, oil & gas. Perry said that the US regarded India as its most imp. partner in the region, & was keen to cooperate with New Delhi in all forms of energy including nuclear & coal. While supporting fossil fuels, which he said would continue to dominate the global energy landscape for decades, the US is also firmly committed to reducing emissions, & developing clean technologies. The secretary also lauded India’s approach towards the non-proliferation treaty, unlike China & Russia, which he said did not seem to care about it. Perry is in New Delhi where he & Petroleum Minister Dharmendra Pradhan co-chaired the inaugural meeting of the US-India Strategic Energy Partnership that President Donald Trump & PM Narendra Modi announced last June. Pradhan agreed with Perry that energy cooperation could be the focal point of bilateral ties. Indian CoS have sourced nearly 12 mn barrels from the US in the last 6 months. The first LNG cargo from the US has also reached India on March 30. Perry said that while RE prices had fallen in India, other sources were imp. to ensure steady supply. He said he cannot be called anti-renewables as Texas, where he was governor, had taken giant leaps in harnessing wind energy. He said fossil fuels would supply 77% of global energy in 2040, which required a balanced approach & a diversified portfolio. However, it was wrong to accuse the US of ignoring climate issues, he said. Responding to a question on India’s appeal to oil producers to adopt a reasonable pricing, Perry said the US approach was to ensure abundant supply from multiple sources so that market forces would ensure affordable prices.

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