India on Wednesday pressed for providing energy at affordable prices and in an environmentally sustainable manner at the world’s biggest energy event.
“Affordable energy for all,” said Petroleum Minister Murli Deora at the IEF. “The challenge developing countries face today is how to provide all their citizens access to modern forms of energy at affordable prices and in an environmentally sustainable manner.”
Deora said while national governments will no doubt need to play a pro-active role, there is great scope for international cooperation for addressing the issues at hand.
Oil prices stabilising near $80 per barrel has brought about a rare harmony between the producers and consumers, both of whom seemed comfortable with current rates. Both groups at the IEF are keen to curb volatility and speculation in prices.
New Delhi has been since 2006 highlighting the role of speculators in oil trade. However, the world acknowledged it only in 2008 when oil prices fell from the record high of $147 a barrel in July to $32 per barrel in December 2008.