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Exploring the viability of strategic petroleum reserves for countries like India, the financial dynamics and shifting energy landscape, and India's innovative approach of leasing oil caverns to private companies for stable oil supply.
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Quick takeaways
- Maintaining SPRs may not be economically viable due to high costs and limited benefits.
- Leasing out SPR spaces to private oil companies can reduce maintenance expenses and optimize reserve management.
Deep dives
India's Decision to Lease Petroleum Reserves
India has decided to build its first privately managed Strategic Petroleum Reserve (SPR) by FY30, different from existing government-managed reserves. The cost of maintaining SPRs could outweigh their benefits, especially if oil is not released promptly during supply disruptions. Despite the US's large SPR capacity, historical releases haven't effectively stabilized oil prices, questioning the true value of SPRs in current market conditions.
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Listen to the best highlights from the podcasts you love and dive into the full episode