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India, OPEC, and the Future of Energy – Kaushik Deb

Podcast Summary

As one of the most rapidly growing nations on Earth, India and its energy development plays a huge role in the larger climate conversation. Just ask Kaushik Deb, a senior research scholar at Columbia University’s Center on Global Energy Policy. With a particular focus on India and OPEC and powerful insights gained from experience at BP, Kaushik’s opinion holds weight when it comes to the future of energy. 

In this episode, Kaushik lays out a comprehensive picture of the ongoing global energy transition and the pivotal roles of both India and OPEC:

  • India’s daunting challenge is fostering economic growth without significantly increasing its energy or carbon footprint – a test no other country has faced on such a scale. This would not only push forward India internally, but would also significantly contribute to meeting global climate change targets. With environmental sustainability as one of the key objectives in India’s annual budget for the first time, a path forward just might be in reach.
  • Kaushik points out the influence of OPEC’s decisions on India’s energy policies and investments. In an era of energy transition, OPEC, especially Middle Eastern producers, could end up dominating a shrinking oil market due to their low-cost and least carbon-intensive production. However, Kaushik believes in the potential for collaboration between India and OPEC to positively impact India’s energy policies and investments.
  • India could greatly benefit from diversification in the energy sector. Kaushik urges India to reduce its dependence on oil imports by investing in renewable energy sources, thereby positioning itself as a leader in the energy sector.

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