Oil dependency in Inia

 India is the world's third-largest importer of oil. India produces around 36 Million Metric Tons (MMT) of crude oil whereas, the requirement or consumption is about 200 MMT. Most crude oil imports in India are from China, U.S., Iraq, Saudi Arabia, and UAE. Also, Bombay High in the Western offshore and KG Basin on the Eastern offshore have given good results and the country is producing a large share of oil and gas from these fields.

How can India reduce its dependency on oil imports?

Reducing reliance on imported oil is an essential priority for the Country. A few steps to reduce India’s dependency on oil imports include:

·        Increasing domestic oil production: India can invest in technologies and practices that can help increase its domestic oil production, such as offshore drilling, hydraulic fracturing, and enhanced oil recovery.

·        Developing alternative energy sources: India can invest in the development and deployment of renewable energy sources, such as solar, wind, and hydropower, which can help reduce the country's reliance on oil.

·        Improving energy efficiency: India can implement policies and programs that promote energy efficiency and conservation, such as building codes, appliance standards, and public awareness campaigns, which can help reduce the country's overall energy consumption and its need for oil.

·        Diversifying its energy mix: India can diversify its energy mix by increasing the share of natural gas, nuclear, and renewable energy sources in its energy mix, which can help reduce the country's reliance on oil.

·        Promoting the use of electric vehicles: India can support the growth of the electric vehicle (EV) market by providing incentives for consumers and businesses to switch to EVs, investing in EV infrastructure, and implementing policies that promote the adoption of EVs.”

Other substitutes for crude oil

India is also rich in nuclear energy. There are 22 nuclear reactors in eight nuclear power plants. Studies show that atomic energy can be a large part of the substitute for fossil fuels. However, this energy production has positive and negative effects on the environment.

Uranium mining, the central part of nuclear energy, causes lung cancer in most miners. Uranium mines contain natural radon gas, some of whose decay products are the potential to cause cancer. A study of 4,000 uranium miners between 1950 and 2000 found that 405 (10 percent) died of lung cancer. Health effects are one of the major drawbacks of nuclear energy.

If we analyze all the substitutes for crude oil, each one has got a negative impact. Say EVs; if there is an increase in usage of EVs, it is again a burden on the coal mines in India.

The reports show India has about 111 years of coal left. But the increase in its consumption leads to the depletion of the coal mines. So, India should depend on non-renewable resources like solar and wind. This dependence comes with the development and introduction of new technology.

The dependency on oil imports can be reduced by using the above-listed substitutes. Though there are drawbacks to each of the reserves, the government can plan the usage of both renewable and non-renewable resources accordingly. One part of the planning can be the usage of these methods can be implemented according to the resources available and climatic conditions in an area.