The US will become energy-independent as early as 2018: says Mukesh Ambani

The US will become energy-independent as early as 2018: says Mukesh Ambani

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani has said that the United States would become energy-independent as early as 2018.

In a recent interview, Mr. Ambani said that he believed that the US had found non-conventional energy in shale oil and gas, which would make the country independent of foreign energy imports in the next five to seven years.

Speaking on the topic, the billionaire said, "For many decades we have heard that the US will be independent of the foreign imports of energy. Realistically, it is my judgement this will happen in the next five-seven years."

He added that the discovery of non-conventional energy in shale oil and gas will bring in benefits not only for the US but also for everyone across the globe.

RIL has invested more than $5 billion in the shale business in the US and has established joint ventures with energy giants like Carrizo Oil & Gas, Pioneer Natural Resources and some other companies. The company has diversified into solar power business and expects solar power to become more affordable than electricity generated from coal and other fossil fuels.

Mr. Ambani also expressed optimistic views about the prospects of economies like China, the EU and the US. About Indian economy, he said that India would enjoy long-term growth, with its 100 billion people ensuring prosperity.

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