Surge in fuel prices due to Russia-Ukraine war calls for carbon efficiency of economy: Vinod Khosla

Surge in fuel prices due to Russia-Ukraine war calls for carbon efficiency of economy: Vinod Khosla

As a result of the ongoing war between Russia and Ukraine, oil and gas prices have been soaring. Taking a lesson out of this, venture capitalist and co-founder of Sun Microsystems Vinod Khosla emphasised on the need for countries to improve their carbon efficiency and be less reliant on oil and gas imports.

Talking about incremental innovation, Khosla said that the world has gotten to a place where every fundamental thing we work on is open to radical innovation. “If you look at climate change, it is a big issue. I think of it as a major opportunity to improve carbon efficiency. When you increase the carbon efficiency of the economy, or use other resources than oil and gas, you’re actually making yourself and your country more competitive. What we’ve learned with the Ukraine war is that increasing the carbon efficiency of your economy is making it more secure because you’re not dependent on imports of oil and gas from other parts of the world,” he said, while speaking at TiEcon Delhi-NCR Unstoppable India virtual event that was held on March 25-25.

Almost 80% of the oil in India is imported, making it important for the country to move in this direction. In the last nine days, fuel prices have increased eight times, with rates up nearly Rs 5.60 per litre.

Khosla said oil and gas have been the cause of misery globally more than any other items. Our reliance on it cannot be removed overnight but it can be done in 10 years.

“By 2030, which is the target, fusion energy could make energy cheap and plentiful. If that happens, water would be cheap and plentiful and agriculture would become different,” he added.

Leading fusion power companies like Canada-based General Fusion and US-based TAE Technologies are working on having fusion reactors on sale by 2030.

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