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Professor David Victor spoke at the 7th Petro India Conference on the theme of "Gas in India - Issues, Opportunities and Challenges" in Delhi. The Hindustan Times summarizes what Professor Victor said:
David Victor, Freeman Spogli Institute for International Studies, Stanford University, USA, also focused on gas pricing in his special address. He drew the attention of delegates to research analysis that indicated that gas prices tended to follow the oil price trend. More importantly, he cautioned the industry that US gas demand had dropped by almost a third in recent years primarily due to higher prices. Therefore, any discussion on gas pricing should incorporate the aspect of potential demand destruction.