India is well-positioned with global crude oil prices at $70 per barrel, according to Union Minister for Petroleum & Natural Gas, Hardeep Singh Puri. Addressing the future of energy, Puri stressed that a reduction in green hydrogen costs from $5.5-$6.0 to $3 per kg could revolutionize the sector. Lower costs would accelerate the transition from fossil fuels to cleaner, sustainable alternatives, driven by public demand and policy incentives.
Key Highlights from Hardeep Singh Puri’s Statement
📌 Crude Oil Prices: India finds $70 per barrel crude oil manageable.
📌 Green Hydrogen Goals: A drop from $5.5-$6.0 to $3 per kg could trigger a clean energy revolution.
📌 Future Energy Shift: Public pressure & technological advancements may lead to reduced fossil fuel reliance.
India’s Position on Oil Prices
🔹 The Indian government is not overly concerned with crude oil hovering at $70 per barrel, ensuring stability in fuel pricing and inflation control.
🔹 The global oil market’s volatility is being monitored, with India adapting its import strategies accordingly.
🔹 Strategic oil reserves and energy diversification are key priorities to mitigate price shocks.
Why Green Hydrogen at $3/kg is a Game-Changer
🌱 Affordability: If green hydrogen reaches $3/kg, it will become cost-competitive with fossil fuels.
🌱 Sustainability: Hydrogen fuel reduces carbon emissions, aligning with India’s net-zero goals.
🌱 Economic Growth: Cheaper hydrogen could boost industries, including transportation, manufacturing, and energy storage.
Challenges & Government Initiatives
🚀 Scaling Production: Current hydrogen production methods are expensive; research into cost-efficient alternatives is ongoing.
🚀 Infrastructure Development: Expanding hydrogen refueling stations & pipelines is necessary for adoption.
🚀 Policy Support: India’s National Green Hydrogen Mission aims to accelerate investment and innovation in the sector.
Global Trends & Public Demand for Green Energy
📢 Countries like Germany, Japan, and the USA are heavily investing in hydrogen energy.
📢 Growing public awareness is pushing industries towards renewable solutions.
📢 Businesses are exploring hydrogen-powered transport, industrial heating, and energy storage.
Future Outlook & Conclusion
🔹 Crude oil stability at $70 per barrel benefits India’s economic planning.
🔹 If green hydrogen costs drop, a massive energy shift could follow.
🔹 The government’s investment in renewable energy aligns with India’s commitment to sustainability.
As the world transitions to clean energy, India’s strategic policies and technological advancements will play a crucial role in shaping a sustainable, energy-secure future.
