India is mentioned in the article as one of the countries that has large amounts of fossil fuels. Yet, fuel prices in India are among the highest in the world. Why ?
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Answer:
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Explanation:
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Explanation:
The energy policy of India is largely defined by the country's expanding energy deficit and increased focus on developing alternative sources of energy,[1] particularly nuclear, solar and wind energy. India attained 63% overall energy self-sufficiency in 2017.[2][3]
The primary energy consumption in India grew by 7.9% in 2018 and is the third biggest after China and USA with 5.8% global share.[4][5] The total primary energy consumption from coal (452.2 Mtoe; 55.88%), crude oil (239.1 Mtoe; 29.55%), natural gas (49.9 Mtoe; 6.17%), nuclear energy (8.8 Mtoe; 1.09%), hydro electricity (31.6 Mtoe; 3.91%) and renewable power (27.5 Mtoe; 3.40%) is 809.2 Mtoe (excluding traditional biomass use) in the calendar year 2018.[4] In 2018, India's net imports are nearly 205.3 million tons of crude oil and its products, 26.3 Mtoe of LNG and 141.7 Mtoe coal totaling to 373.3 Mtoe of primary energy which is equal to 46.13% of total primary energy consumption. India is largely dependent on fossil fuel imports to meet its energy demands – by 2030, India's dependence on energy imports is expected to exceed 53% of the country's total energy consumption.[1] About 80% of India's electricity generation is from fossil fuels. India is surplus in electricity generation and also marginal exporter of electricity in 2017.[6] Since the end of calendar year 2015, huge power generation capacity has been idling for want of electricity demand.[7] India ranks second after China in renewables production with 208.7 Mtoe in 2016.[2]
In 2017-18, the per-capita energy consumption is 23.355 Giga Joules (0.558 Mtoe) excluding traditional biomass use and the energy intensity of the Indian economy is 0.2332 Mega Joules per INR (56 kcal/INR).[8][9] Due to rapid economic expansion, India has one of the world's fastest growing energy markets and is expected to be the second-largest contributor to the increase in global energy demand by 2035, accounting for 18% of the rise in global energy consumption.[10] Given India's growing energy demands and limited domestic oil and gas reserves, the country has ambitious plans to expand its renewable and most worked out nuclear power programme.[11] India has the world's fourth largest wind power market and also plans to add about 100,000 MW of solar power capacity by 2020.[12][13] India also envisages to increase the contribution of nuclear power to overall electricity generation capacity from 4.2% to 9% within 25 years.[14] The country has five nuclear reactors under construction (third highest in the world) and plans to construct 18 additional nuclear reactors (second highest in the world) by 2025.[15] During the year 2018, the total investment in energy sector by India was 4.1% (US$ 75 billion) of US$ 1.85 trillion global investment.[16]
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