Indian Prime Minister Narendra Modi wants the pricing of oil and gas should be in “responsible” manner and disapproved the efforts of “artificially distorting” the price as “self defeating.” For serving the energy needs of hunamity in an optimal manner. the Prime Minister urged that there should be a global consensus on “responsible pricing,”
The Prime Minister pitched this view in his inaugural speech of the 16th International Energy Forum IEF ministerial conference in New Delhi on Wednesday.
He said, “We need to move to responsible pricing, which balances the interests of both the producer and consumer.” And he also called for transparent and flexible markets for oil and gas as he added, “Only then can we serve the energy needs of humanity in an optimal manner.”
A mutual supportive relationship between the producer and consumer is needed to let the world grow as a whole, said Mr. Modi during his address,“It is in the interests of producers that other economies keep growing steadily and rapidly. This will ensure growing energy markets for them.”
Modi said, history has shown us that efforts at artificially distorting prices are self-defeating, they also cause undue hardships, particularly to those at the bottom of the pyrmid in developing and least developed countries.
He said people must have universal access to clean, affordable, sustainable and equitable supply of energy as he wished the discussion in the IEF would see that happen.