12 February 2013

Nigeria: U.S. Will Attain Energy Self-Sufficiency in Seven Years - Ambani

The United Stated (US) would attain self-sufficiency in energy in the next five to seven years, Chairman of Reliance Industries and India's richest man, Mukesh Ambani, has projected.

Ambani who spoke yesterday in his first television interview in almost a decade with CNN, said there has been a fundamental transformation in the energy scene in the U.S.

"For many decades, we have heard that the US will be independent of foreign imports of energy. Realistically, I can now tell you that it is my judgement that this will happen in the next five or seven years." The US he said, has truly found non-conventional energy in shale oil and gas which he noted is "really, really bringing benefit not only to the population in the US, but, really, to across the world." He also stated that the world energy will transit from what he termed "hydrocarbon present", which is coal, oil and natural gas, over the next many decades into a fully renewable, sustainable future, of which solar will be at the heart.

Ambani, is the richest man in India and second richest man in Asia. He is the Chairman of India's largest company, Reliance Industries, a textile making industry which was started by his father in 1980.

However, the company's revenue presently, comes mostly from energy, with retailing and telecommunications also contributing to its revenue.

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