The Hindu : National : Oil producers, consumers must talk: Aiyar

Online edition of India's National Newspaper
Tuesday, Mar 28, 2006

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Oil producers, consumers must talk: Aiyar

Special Correspondent

NEW DELHI: Union Panchayati Raj Minister Mani Shankar Aiyar on Monday said India must eschew any confrontation that would pit the petroleum importing countries against OPEC (Organisation of Petroleum Exporting Countries). "What we need is a dialogue between producers and consumers, recognising that Asian energy security lies as much in security of supplies for Asian buyers as in security of demand for Asian sellers. Such mutual trade if reinforced by mutual investment will lead to mutual interdependence, which alone is the guarantor of true energy security."

Delivering the convocation address at the Indian School of Mines at Dhanbad, he said India's only hope for poverty eradication would be to ensure energy security through a combination of the highest possible domestic production of oil and gas, consistent with the needs of energy conservation, and integration with the Asian hydrocarbons economy. And, since the Asian hydrocarbons economy was an integral part of the global energy economy, any Asian regional cooperation would have to seamlessly merge into global energy cooperation.

Mr. Aiyar was conferred the honorary degree of Doctorate of Science by the school of mines for his contribution to public life and the country's development.

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