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Disruptive technology and the Indian oil & gas sector-I: Don't lock-in investments in mega refineries, warns paper
Jan 16: A controversial new government sponsored article has warned against India "locking in" its investments in mega refinery projects when rapid technological changes are taking place. This has been the position of this website too over the past one-and-half years.
8The author quotes a growing ambition among Indian policy makers to ensure that all vehicles sold by 2030 are electric vehicles.
8A government-led initiative – the National Electric Mobility Mission Plan – is already targeting annual sales of 6-7 million EV/Hybrid vehicles by 2020.
8There are already several studies that indicate that lifecycle cost of an electric car in India would be the same as that of an internal combustion (IC) one by 2022.
8Over the last one-and-a-half decades, India has been an exporter of petroleum products, which is now changing to just self-sufficiency.
8There has been a buzz that India needs to step up refining capacity, to cater to the burgeoning demand arising from the transport sector. But if EV technology was to out-compete IC based vehicles in the coming years, surely the demand for liquid transport fuels would be adversely impacted, and new refinery sector investments would face a challenging, altered reality.
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