The Hindu Business Line : PM calls for conserving energy, stresses on nuclear energy

Prime Minister Dr Manmohan Singh today called upon the nation to conserve energy and stressed upon the need to develop renewable sources of energy including nuclear energy.

In a televised address to the nation, Dr Singh said that “I urge every citizen to conserve energy at every step, every minute of the day.”

“Be it petrol, diesel, kerosene, LPG, electricity or even water – let us learn to save and use efficiently. Let us reduce wasteful consumption of petrol,” he said.

Stressing up on the necessity to develop alternative sources of energy, the Prime Minister said that, “We cannot remain captive to uncertain markets and unsure sources of supply. We have to develop renewable sources of energy, including nuclear energy.”

Pointing out that rising food and commodity prices around the world and rising world oil prices are two primary causes for current high level of inflation, Dr Singh said that steps to increase food production and procurement, restricting food exports and expectations of a normal monsoon will stabilise food prices in the coming months.

However, he said that in the case of oil, nature has not blessed India in the same manner and the country remains dependent on imports.

He pointed out that when the UPA Government came to power international crude oil prices were $39 a barrel which has now gone beyond $130 a barrel.

“This global oil shock has imposed a huge burden on our finances and on the financial resources of our oil companies. In the past year alone, as oil prices doubled, our Government did not make any adjustments in the price of petrol and other petroleum products. Kerosene prices have not been touched in four years,” he said.

Stating that business cannot go on like this for ever, the Prime Minister said that “There are limits to which we can keep consumer prices unaffected by rising import costs. Our oil companies cannot go on incurring losses. This way, they will have no money to import crude oil from abroad.”

He said that the Government has reduced taxation of petroleum products to the extent possible.

“But given the commitments of the Government for vital development and non-development expenditure, taxes on petroleum products cannot be completely eliminated. Thus a rise in prices is inevitable,” Dr Singh said.

More Stories on : Petroleum | Power

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page