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Adviser's Note




 

Author: Girijesh Pant

Energy Review, Vol 4. Issue 4. 2022


The Russian-Ukraine war is certainly going to have disrupting impact on the global energy transition. The tension that lead to the rewriting of the Glasgow text, has once again surfaced in a recently held talk between Biden and Modi. Global transition today is not so robust. The domination of the global energy mix by hydrocarbon makes transition susceptible to the evolving matrix between clean and dirty energy. Biden recognizes the Indian energy concerns but finds it difficult to appreciate the gains that India could be making in discounted price. But the fact is that the share of oil is not so pronounced. It is not more than two percent of bilateral trade. Hyping it to shadow the agenda has more to do with the apprehension that the crisis could extend the areas of convergence between India and Russia. However, American apprehensions are misplaced because the Indian energy future lies with renewables. In fact, the Indian transition is driven by the nature of its global energy engagement. Thus, in managing the global economy, the efforts should be to expand the areas of convergence including in the clean energy sector. It cannot be overlooked that Indian energy independence is integral to the global climate crisis.

(Prof. Girijesh Pant is Former Dean, Jawaharlal Nehru University & National Fellow Indian Council of Social Sciences Research (ICSSR)