The international crude oil prices are going up and does not seems to ebb down. The effect of this price rise was such that petrol/diesel prices have been raised to a significant amount. The price hike of crude oil is affecting the Indian economy to a large extent. As India does not have sufficient production of oil, it has to depend on external sources for oil.
Thanks to Bio-fuels! Now Indian corporate like Tata Group and Reliance Industries are making huge investment in the research & development of Bio-fuels. Jatropha plant cultivation is gaining popularity among farmers too. The plant yield non-edible seeds, which is used to extract bio-fuels. It is estimated that around Rs 15,000 crore to Rs 20,000 crore will be invested in bio-fuel sector over the next five to eight years. These efforts will surely reduce pressure on the Car Industry which is witnessing downfall due to fuel price hike.
Labels: Bio-Fuel, Fuel Prices
4 Comments:
With the fuel prices going high, bio-fuels is the best options.Now many car manufacturers are also planning to roll out duo-models
Bio-fuel is the answer for petrol price rise. It is not longer an affordable fuel. Even rich feel it is too much of a price to pay for driving the vehicle. Indians have to do their lot in minimising petrol consumption. It is best if at least one week in a day is observed as 'cycle day'.
Finally Indian companies are looking at alternative resources to run cars. Bio-fuels will prove to be an excellent alternative to reduce dependency on petrol. But the negative impact of this cultivation will be that food grains cost could go up.
Hike in fossil fuel, has been a big blow to all the the industrial sectors. The big shots are now behind Bio-fuels, an alternate to the fossil fuel. May be in the coming years the huge investments made by Corporates for the R&D will come out in flying colours.
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