UK may be on its way to becoming a petro state, again, on back of an oil discovery that may be a whopping 100 billion barrels. The world is awash with cheap energy, and Indian companies need to seize the opportunity to acquire upstream energy assets.
In recent years, U.S. oil and gas imports have declined due to the development of shale resources in the country. How will the production of shale oil, increase in oil production by non-OPEC countries, supply disruptions in West Asia and economic growth in India and China impact global crude oil prices?
Will shale change India's energy equation?
The significant shale gas deposits held by several countries, including India, have implications for global energy prices, geopolitics and climate change. But India needs to develop a strong shale gas policy that can help in lowering its trade deficit while ensuring sustainable development.