Hydrocarbon extraction in Cauvery basin areas not economically viable: Baalu

New Delhi [India], July 1 (ANI): DMK member in Lok Sabha TR Baalu on Monday raised the issue of hydrocarbon extraction in areas of the Cauvery basin, saying the farmers were against it and the exercise was not economically remunerative.
Baalu told the House that the delta farmers were suffering for the last three years. He was supported by other members of the party.
Responding to the issue, Petroleum and Natural Gas Minister Dharmendra Pradhan said that it was not a new matter and agreed that the farmers had concerns and apprehensions.
"I am inviting all the senior leaders of Tamil Nadu. We will discuss that. The government of Tamil Nadu is also of the same opinion. You are also of the same opinion. These are national issues," he said.
The minister said DMK leader Kanimozhi had met him over the issue when she was a member of Rajya Sabha.
Baalu asked if the government had gone into details of financial or socio-economic returns of the project.
"I think nothing of this sort was taken into consideration. Actually, for the past 50 to 60 years, in the delta areas of the Cauvery basin, they have been exploring the possibility of extracting crude oil. But only 0.6 per cent out of the 32 million tonnes of total production in Tamil Nadu is extracted from there. So in that case, where is the possibility of the economic rate of return?" he asked.
"There is no socio-economic rate of return and there is no financial rate of return," he said.
Baalu said drilling was going on in 31 areas.
"We are all agriculturists. All the people, who came from Tamil Nadu there, are almost agriculturists," he said, adding that the people will protest to stop these activities. (ANI)