It is clear that the current natural gas market is working.
Demand in all sectors is already responding to affordable prices.
Indian manufacturing is on the rebound largely because of the currently affordable and reliable supply of natural gas.
At Vadilal Industries we incorporate intelligent public policy that is a necessary part of renewing and sustaining this Indian manufacturing competitive advantage Natural gas is essential for Indian industry.
It is used as an energy source and a raw material to manufacture chemicals, plastics, pharmaceuticals and many other products.
For the first time in more than a decade, due to the recent discoveries and development of domestic shale gas, natural gas prices are affordable and relatively stable, especially when compared to oil.
In fact, global oil is more than five times as expensive as domestic natural gas on a thermal basis.
This disparity between expensive, volatile global crude oil and affordable, competitive domestic natural gas is fueling lower utility bills for individuals, greater national energy security and billions of dollars in new investments.
These investments are already making an impact by creating new manufacturing jobs, increasing exports of value-added products, sparking stronger economic growth and fueling high-tech industries like clean energy innovation.
Natural gas represents a tremendous competitive advantage for Indian industry that must be nurtured.
Actions that threaten to return natural gas prices to parity with global oil will jeopardize this once-in-a-lifetime opportunity.
A thoughtful, prudent approach to gas policy will ensure this tremendous resource remains abundant, stable and affordable to all users. As a nation, we make the best use of our natural gas reserves to support and bolster the Indian manufacturing base while helping create new, higher paying jobs for Indian workers.
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