PEAK OIL: SHOULD INDIA WORRY?

I think not only India, but almost every country including US should worry about it. Since oil is very important part of our live, its very hard to replace it. But everyone should not only consider new cheaper ways of fuel/oil but also how to reduce the consumption of oil.

Although India has slight edge over US to service nicely when Oil shoots up because of excessive use of Buses/rails/Auto-Rickshaws and other local transports. Excessive use of local transportation takes off cars from the road reducing the fuel consumption. Better roads helps reducing oil consumption and improve infrastructure.

Oil and byproducts are not only used as fuel but for our daily need products like plastic, cosmetics etc. which could be reduced by using herbal cosmetic products. It solves multiple problems - a) improves green cover b) helps countries like India where agriculture is still primary business.

Argument on the issue should be both yes and no. Any form of natural resource is always scarce specially hydrocarbon. It is always encouraged to search for cost effective alternative. As on date, technology is available for alternative energy source, however, these are not easily accessible and not cost effective with respect to hydrocarbon oil.Therefore, India should always invest in R&D related activity for alternative to hydrocarbon oil.

Further, it is also required to be noted that at present hydrocarbon oil is not used only as a fuel. It has use in various industries like petrochemical,polyster,coal tar etc. Hence, replacement of hydrocarbon oil is not an easy option. Rather, India should consider about juditious use of hydrocarbon oil.,         

It is just a question of time when peak oil will happen. It might have happened already as some experts claim or it may happen by 2011 or 2030. But it will happen within the reasonable long term planning horizon of say 25 to 30 years.

Therefore it will be better for India to start planning for a time when oil will be in limited quantity and prices will be far above what one can predict today. This way we in India will support rationalisation of pricing policies and energy subsidies, promote energy efficiency, and various renewable energy sources.