India’s energy minister said on Wednesday that the current global energy crisis is likely to continue for some time due to the “cartelisation” of the fossil fuel industry, not just the Ukraine conflict.
“This crisis will persist,” Energy Minister Raj Kumar Singh told the Sydney Energy Forum, co-hosted by Australia and the International Energy Agency. “I believe this crisis has been brewing for some time.The crisis was caused by “the trend toward cartelization, the trend to reap the profits, the biggest profits possible, as quickly as possible,” he said.