- The heat of the war unleashed by the USA/Israel on Iran is gradually spreading around the world, since the steady supplies of gas and oil are being affected, leading to panic buying by consumers. Not only that, but several countries have also already initiated measures to ensure the precious supplies of petroleum products do not stop the economic activities in a way that would severely impact their GDPs. Most worryingly, the conflict started by the extremely petulant and unpredictable Donald Trump shows no sign of abating, or the parties involved agreeing to sit across the table to initiate peace talks/negotiations to usher in some thaw from the ongoing destruction all around. Indian citizens are also feeling the heat from the short supply of LPG.
PC: ABP Live – ABP News
- As the popular saying goes, necessity is the mother of all inventions; the Indian authorities/think tank should come out with suitable measures for future setbacks to ensure our dependency is reduced on extraneous factors. Right now, the gas supply isn’t in crisis. However, the Union Government should communicate the evolving situation smartly. Conflicting signals emanating from Trump and other leaders from the Middle East/West Asia haven’t exactly provided encouragement or kindled hopes of an early end to the crisis. Trump’s by now familiar claims of steamrolling Iran’s leadership, achieving the intended objectives, and confidently issuing statements about normalcy returning sooner are being received with a pinch of salt.
PC: The Indian Express
- Nonetheless, Trump’s one-hour chat with Putin last week, followed by a hint of easing oil and gas sanctions on Russia, bolsters hope of prices and economic activities returning to normal levels. Mind you, Russia is the world’s second major oil exporter and has the largest natural gas reserves. And gas is the bigger problem right now, after 11 days of fighting. Note that India meets about 60% of its LPG and half of its natural gas requirements through imports. Mostly from Qatar and other West Asian countries, which can’t send tankers now. Because gas is costlier to store than oil – it needs extreme cooling – we don’t have many weeks’ stock. Hence, the Union Government’s decision to regulate gas distribution to different sectors until normal supply resumes.
PC: Zoom News
- Ordinarily, the biggest share of natural gas goes to fertilizer factories. But now, PNG for kitchens and CNG for transport will be prioritized, followed by fertilizer and other industries, subject to availability. Likewise, LPG for households will be prioritized. While this is pragmatic, essential, and non-essential uses shouldn’t be decided on old assumptions. Yes, people need food, so fuel for cooking has first claim on the country’s gas stock. But does everyone eat at home? Think about workers eating in factory canteens, truckers eating at dhabas, and many people in small eateries. Commercial kitchens are as much a necessity as domestic kitchens. Without gas, a whole ecosystem of canteens, restaurants, and lakhs of workers can grind to a halt for days. Thus, distribution between domestic and commercial uses must not be too skewed against the latter.
