This morning, Carbon Copy published the second – and concluding – part of my report on global fossil fuel companies making a beeline for India.
It is a development which comes with large fallouts. In the past, every time India liberalised a nationalised sector, private players have gained at the cost of public sector entities – think banking and telecom. As companies like Bharat Petroleum (and, perhaps, Hindustan Petroleum too) go up for sale – and firms like Indian Oil struggle to compete coz it has to also accommodate the state’s myriad populist demands –India’s energy sector is likely to see something similar. Other changes. Oil dividends to the centre will fall. Not to mention the multiple fallouts of a large chunk of India’s energy sector being controlled – yet again – by foreign firms.
And yet, the biggest elephant in the room is GHG emissions. What does the entry of foreign players – given their requirements, lobbying power and local alliances — mean for India’s emissions and energy transition? Today’s report takes a look at that question.
Do take a look.