2021 was supposed to be the year of recovery for the whole world, after the disastrous first wave of COVID-19. However, individual challenges and the common global issue of sky-high fuel prices is making it impossible to recover economically for any country.
The current situation of unusual inflation in coal, petroleum and natural gas altogether, has put immense pressure on economies across the globe. On top of that, there is urgent action required to revolutionize the energy industry to make it more sustainable.
In the USA oil prices are up more than 65% this year, while natural gas prices have jumped 112% since January. India also is seeing a leap in the domestic natural gas price by 62% from $1.79 per million British thermal units to $2.9 per MMBtu under the domestic gas price regime.
Citigroup has predicted a 'winter price shock' for natural gas and energy supply shortages in both Europe and Asia. In Europe, the rate of natural gas could go up to $30 per MMBtu in the fourth quarter while in Asia it could reach $32.
A CSR Initiative of
Designed and Executed by
Implemented by
Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
