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India power minister expects energy crisis to persist

Reuters
·1-min read
A man is silhouetted against the backdrop of Jama Masjid as overhead power cables are seen in Delhi

SYDNEY (Reuters) - India's power minister said on Wednesday the current global energy crisis is likely to go on for some time due to the "cartelisation" of the fossil fuel industry, not just because of the Ukraine conflict.

"This crisis is going to stay," Minister of Power Raj Kumar Singh said at the Sydney Energy Forum, co-hosted by Australia and the International Energy Agency. "I believe this crisis has been in the making for some time."

The crisis has been caused by the "trend towards cartelisation, the trend towards reaping profits, as vast profits as possible as fast as possible," he said.

(Reporting by Sonali Paul; Editing by Tom Hogue)