Oily messWith the global price of crude rising to US $ 22 per barrel, the country's trade deficit on account of oil imports is bound to increase drastically. But what's worse, the country's dependence on import of crude is likely increase manifolds too. According to the Tata Energy Research Institute's annual report, the country's dependence on imported crude is projected to go up from around 47 per cent in 1995 to 64 per cent next year. In 2005, it could stand at over 70 per cent.The policy analysis division of TERI suggests ways and means to optimally exploit and utilise oil and gas resources by tracking policy developments, interfacing government and oil companies and by examining scope of regional cooperation.
