Letter to BS: Govt needs to speed up its alternative energy initiatives

As a country, we must not lose sight of the rapidly increasing solar and wind installations

This refers to “Facing the oil headwinds head on” by Arunabha Ghosh (October 23). The article has beautifully analysed the current scenario of high crude prices and the effects on current account deficit, rupee value and so on. With the government taking steps, I am sure we will tide over this oil price crisis soon. The shale revolution, the Organisation of the Petroleum Exporting Countries' (OPEC) reduced strength to hold the world at ransom and the slowdown of the global economy are all factors that can help diffuse the situation and bring down crude prices in the not so distant