Buy, baby, buy: Energy connect set for big boost

INDIA'S POSITION IS STRATEGIC: IMPORTING MORE THAN 87% OF ITS CRUDE OIL, IT SEEKS RELIABLE AND ECONOMICAL ENERGY SOURCES

- Prashant Jha

WASHINGTON: Nothing symbolized the importance of energy in the talks between Prime Minister Narendra Modi and US President Donald Trump than the seating in the Oval Office on Thursday evening.

On the left of Trump were three cabinet members. Among them, two dealt with energy: secretary of interior and chair of Trump's energy council, Doug Burgum; and secretary of energy, Chris Wright. The intertwined connections of energy policy and industry were embodied by Wright, who served as CEO of North America's second largest hydraulic fracking company and on board of a small modular reactor company before his current role.

Trump made his priorities clear at the press conference with Modi. He highlighted trade imbalances, proposed oil and gas sales as compensation, spoke of an agreement that would "restore the US as leading supplier of oil and gas" to India, and referenced India's intent to reform laws welcoming US nuclear technology—developments worth billions to US companies.

The joint statement followed suit, with both leaders emphasizing "the importance of US-India collaboration to ensure energy affordability, reliability, and availability and stable energy markets," given their positions as leading producer and consumer respectively.