Topic: Infrastructure: Energy.
5) Amidst global dynamics surrounding Oil rich countries, India is witnessing a continuous non- secular rise in the price of the commodity. Critically analyse and suggest what should be India’s way forward? (250 words)
Why this question:
The question is amidst the growing uncertainty of Oil imports for India amidst rising geopolitics that has encircled the oil rich countries and how it has changed the price scenario of India and created feeling of uncertainty.
Key demands of the question:
The answer must discuss the recent oil turmoil, the sanctions imposed by US on Iran – oil rich country, the affect it has on India etc. and it has impacted the secular pricing policy of Indian energy system.
Critically analyze – When asked to analyse, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary. When ‘critically’ is suffixed or prefixed to a directive, one needs to look at the good and bad of the topic and give a fair judgement.
Structure of the answer:
Introduce by highlighting the situation.
The body of the answer should address the following dimensions:
- Current energy crisis – highlight the disbalance in demand -supply equation of global oil system.
- India’s case – present dependence on oil imports, conditions of other types of energy sources and potential in future.
- How and why India needs to diversify its oil supplier base and increase domestic sources of energy.
- Way forward.
Conclude with significance of diversification of energy sources amidst such shortage of oil.