India, China Will Fuel Demand for the Natural Resources:  Saudi Energy Minister

India, China Will Fuel Demand for the Natural Resources:  Saudi Energy Minister

India is all set to play a major role in forming the energy policies of Middle East because of the increasing hunger for oil. The Saudi Energy Minister, Khalid-Al-Falih stated in the 2017 Abu Dhabi meet that the fossil fuels definitely cannot be wished away as the increasing car ownership in China and also India will be fueling the demand for natural resources. He made this statement during the Abu Dhabi Sustainability Week that was held at UAE.

Even though Al Falih, who also happens to be the chairman of the popular Saudi Aramco, a giant in Saudi Arabia’s Natural gas and Petrol field, went on to pledge close to $30-35 billion investments in renewable energy by the end of the year 2023, he seemed very bullish on the oil and gas. He added that they will need some clean gas and oil for the future generations.

He stated that his team has seen the bio fuels generating more pollution when compared to fossil fuels. The poor people making use of biofuels are much more likely to be polluting when compared to the people who do have access to the clean oil and gas. The car ownership in India is now expected to be growing by around 775% in the next 24 years, as per the International Energy Agency.

 

India has been in the news for all good reasons in the past as well. Some months ago, there was news that India is aiming to become the solar power in the world.  India has now become one of the biggest names when it comes to renewable energy in the past couple of years. The country topped the International Solar Alliance, which was an initiative launched a couple of years ago at the event COP21 held in Paris. India aims to mobilize around $1 trillion for developing one terawatt of global solar power by 2030; this is actually four times more than the current worldwide total.

The country has started pretty well. Among the various policies, there are some plans for resilient grids and also the development of the big scale energy storage in order to retain its intermittent wind and also solar power when it is most needed. The country also aims to become an electric vehicle country completely by the year 2030.

Some of the best energy projects are now starting off across the nation. The finishing of Kamuthi will definitely mean that this state of TN will now be hosting the world’s 2nd major solar plant and also one of the world’s major onshore wind farms. It is very clear that India is highly focused on more natural energy projects.

 

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