Mukesh Ambani sees US becoming energy-independent in 5-7 years

US becoming energy-independent in 5-7 years: Mukesh Ambani
Mukesh Ambani, India's richest man and the chairman of Reliance Industries Ltd (RIL) which is also India's most valued firm, said that US will become energy-independent as early as 2018, helped by development of shale oil and gas in the country.

Ambani, whose RIL operates the nation's largest gas reservoir off the eastern coast of India, said "fundamental transformation" in the US energy sector will help drive economic growth this year, as per a media report.

"For many decades, we have heard that the US will be independent of foreign imports of energy," Ambani told a media agency. "Realistically, it is my judgment this will happen in the next five to seven years," he added.

Besides, Ambani is also bullish on India, China and EU. As per the report, Ambani expressed confidence on India's growth story and said that its 100 billion people will ensure prosperity with their aspirations. "I am very bullish on India because it is really the aspiration of a billion people, and ours is a county where all the billion count," he said.

Read more about: mukesh ambani
Story first published: Monday, February 11, 2013, 13:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?