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Our Bureau

Hyderabad, Jan. 14

The Union Secretary for Petroleum and Natural Gas, Mr M.S. Srinivasan, has said that the growing dependence on hydrocarbons is set to continue.

Crude pricing is no longer an economic issue but geopolitical. This has lead to extreme volatility of crude. Already, there are indications that the price is going to cross $150 a barrel possibly during this year itself.

Therefore, this called for a more focussed approach to explore other fuel options including coal bed methane and gas hydrates. In fact, deeper layers of Earth which are relatively costlier to explore, are stated to contain about $150 billion barrels of oil and gas and industry needs to train its focus.

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