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Q.3 India imports approximately 85 per cent of its crude oil requirements and is exposed to the volatility of the international oil market. In light of this, suggest the policy measures for harnessing India’s indigenous petroleum resources and mitigation of supply shocks. (10 Marks)

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Mentor’s comment-
  • https://indianexpress.com/article/opinion/columns/petroleum-minister-climate-change-policy-dilemma-7433669/
  • In the intro, mention India’s cruise oil requirement figure.
  • In the body, suggest policy measures such as scaling back on domestic exploration, increasing the productivity of producing fields, increasing strategic reserves, restructuring and reorganising the public sector petroleum companies.
  • Conclude by mentioning the need for increasing the adoption of clean energy by reducing the dependence on fossil fuels in a phased manner.

Comments

2 responses to “Q.3 India imports approximately 85 per cent of its crude oil requirements and is exposed to the volatility of the international oil market. In light of this, suggest the policy measures for harnessing India’s indigenous petroleum resources and mitigation of supply shocks. (10 Marks)”

  1. Pradipti Dash Avatar
    Pradipti Dash

    pay_Hf9YBu2UIYMtMv
    kindly review

    1. Staff @CD Avatar
      Staff @CD

      Pradipti

      You have written well. Most of the points are covered.

      Introduction is fine, in challenges mention about high oil prices and also about volatility of prices depending on price of supply which again depends on multiple factors. Rest of the points are good.

      In policy measures, you can mention the need to increase our import buffer to 35 days in point number 3. Remaining points are fine.

      In conclusion,also mention the need to shift to cleaner/renewable energy.

      Keep writing. 🙂

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