Promoting bio fuels, energy efficiency are our priorities: Dharmendra Pradhan

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan stressed on the need for responsible pricing of fuel at the Organisation of the Petroleum Exporting Countries (OPEC) and priorities of promoting energy efficiency fuels at the seminar on Wednesday. "Promoting bio fuels, energy efficiency and moving to a gas based economy are our priorities. Since this forum has of producing and consuming countries and captains of industries, it will be the right forum to discuss sustainable pricing. Oil and gas are commodities of trade but also basic necessities," said Dharmendra Pradhan. "It is high time to move to a responsible pricing, on that balance the interest of both producer and the consumer. We also need to move to transparent and flexible markets for oil and gas. Crude prices are creating stress throughout the global economy. It is giving pain to us in India. The global economic outlook already has threats from trade wars. My fear is that his will lead to energy poverty in many parts of the World," he added.