`New tech changing global energy trends`

Last Updated: Monday, March 4, 2013 - 16:02

New Delhi: Global energy trends are changing especially with the advent of new technologies as well as high prices, according to an American think tank.

Noting that India has much more oil and gas resources than what people realise, a fellow of the Council on Foreign Relations (CFR) Blake C Clayton today said the country along with China is poised to become major importer of crude oil from the Middle East.

New York-based CFR is an independent think tank.

"India has much more oil and gas resources than people realise," Clayton said while talking on `Global Energy Trends and their Impact on India` here.
He also noted that there are infrastructure issues in exploiting the country`s energy resources.

Clayton said that demand for oil is expected to increase in the coming years in countries such as India and China, even though the demand is almost stagnant in OECD countries.

The Organisation for Economic Cooperation and Development (OECD) is a grouping of mostly developed nations.

The International Energy Agency in 2011 had said that population growth, the modernisation of lifestyles, higher electrification rates and rapidly growing gross domestic product (GDP) would drive a large increase in energy demand in India.

PTI



First Published: Monday, March 4, 2013 - 16:02

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