India’s love for fried food could help curb crude oil imports

appetizers-indian-foodAccording to Ramakrishna Y.B. the head of a panel that is looking at the potential for fuels derived from plants – the nation of 1.3 billion can made at least 2 million tons of biodiesel annually by processing used cooking oil from restaurant chains. He said State-run Indian fuel retailers are due to announce investments in biofuels shortly.

India’s crude consumption growth is expected to outstrip all other Nations in the decades ahead. Prime Minister Narendra Modi’s goal is to reduce overseas energy purchases by 10 percentage points by 2022, through increased domestic output and greater use of alternative fuels.

The Oil Ministry data says India consumed about 22 million tons of gasoline and 75 million tons of diesel in the 12 months through March 31.

India is one of the top edible oil consumers in the world with usage at 20 million to 22 million tons per year. The challenge is organizing a reliable system to collect and reuse these supplies.

India imports about 80 percent of the crude it needs. Oil Minister Dharmendra Pradhan said they have to reduce import dependency. Ramakrishna said in a decade India could use 20 percent blending of ethanol in gasoline and 10 percent of bio diesel in diesel, if farming policies are supportive and encourage more cultivation of biofuel crops such as jatopha. All that is needed is that they provide farmers quality seeds and a fair price.