India need not engage in the global race to secure energy assets overseas, according to Suman Bery, Chief Economist, Strategy and Business Environment, Shell International BV.
“There are two schools of thought on this… one is by buying up equity stake in foreign assets and securing them. The other is to acknowledge that the global energy scene functions very well, and that India will be a large part of it, and that there is no need to lock up resources,” Mr. Bery said, in an interaction with The Hindu .
“I have tried arguing with some of my Indian friends, both academics and officials, but they believe that India needs to go out and aggressively secure its energy security,” he added.
Mr. Bery was here recently to present Shell’s report on the energy sector titled ‘New Lens Scenario’.
According to the Shell study, in the decades ahead, environmental stress will be one of the more troubling issues that needs to be addressed and that socio-political factors will decide the energy-mix that nations will choose to employ. For example, countries that are dominated by the wealthy and elite will primarily use natural gas as a source of energy.
