US may help India conserve energy

Observing that much of the current and projected rise in oil prices is due to increasing consumption in Asia, US President George W Bush has stressed on the need to help India and China conserve energy in order to reduce the global demand for petroleum.

“Much of the current and projected rise in gasoline prices is due to rising oil consumption in Asia. These are emerging economies that are consuming more natural resources, one of which is oil. As Asian economies grow, their demand for oil is growing much faster than the global supply is growing. And that drives up prices”, he said while addressing the 16th annual Energy Efficiency Forum in Washington