File photo
NEW DELHI: Congress leader and leader of opposition Rahul Gandhi on Thursday warned that country’s energy security could face serious challenges amid disruptions in global fuel markets caused by the escalating conflict in the Middle East.Speaking about the potential impact of the crisis on India’s fuel supply, Rahul said the government must urgently prepare for possible shortages of oil and cooking gas.
“Normally the procedure is that you can ask to talk. So I asked to be allowed to make a statement about the LPG gas and oil situation in the country… But a new procedure has started where the Minister will first decide, then I will speak, then the Minister will reply,” Rahul said while speaking to reporters.
Israel Iran War
This came after Congress MP KC Venugopal asked Lok Sabha Speaker Om Birla to allow the LoP to raise the issue of the LPG crisis in the House.”Basically, the main thing is that all fuel is going to be a problem because essentially our energy security has been compromised. Flawed foreign policy has created this problem… Now we have to prepare. We still a bit of time left. The government and the Prime Minister should instantly start the preparations, otherwise crores of people will suffer great losses,” Rahul said. “This war is fundamentally changing the current world order. It is a much bigger issue than whether Iran will allow fuel or not. We are entering an unstable time. During this time you have to change your mindset… What I am suggesting to the government is that now they need to start thinking deeply and ensure that our people do not suffer heavy losses. This is not a political statement. I can see a big problem is coming,” he added.Taking aim at the government, Rahul said the Prime Minister must ensure that India’s energy security is protected despite the worsening global situation.”The problem is that the Prime Minister is not able to function as the Prime Minister of the country. There is a reason for it, which is that he is trapped. Anyway, he still needs to make sure that people of India are protected, and our energy security is managed by us,” the LoP said.His remarks come at a time when global energy markets are facing volatility due to the intensifying conflict in the Middle East.Industry developments indicate that crude oil supply has been significantly disrupted by the ongoing military escalation, pushing benchmark prices such as Brent crude close to $100 per barrel.Supplies of natural gas and liquefied petroleum gas (LPG) are also under pressure as maritime trade routes in the region face disruptions.One of the key concerns is the virtual closure of the Strait of Hormuz, a critical global shipping route through which a large portion of the world’s energy supplies pass.The strait handles roughly 20% of global liquefied natural gas (LNG) trade, making it one of the most important maritime chokepoints for global energy markets. Any disruption in traffic through the route can significantly affect the movement of oil, gas and related energy commodities across international markets.
