Peak Oil and Implications for India
While it is dicey to predict oil reserves and production rates, one can accurately compute and collate past figures. Experts have been predicting peaking since 1995 but because of energy-efficient machines, substitution and use of natural gas and electricity for heating and so on, the dates have been shifting. This underscores the fact that the only reliable way to predict the timing of peak oil will be by examining past statistics. The most telling evidence of peaking is the near plateauing and negative rise in production for the seven years ending 2011. An article by Maj. Gen. (Retd) S.C.N. Jatar. (Editors Note: Requires subscription to access article)
Is the world about to run out of oil?
Peaking of oil supplies presents an unprecedented risk-management problem. Viable mitigation options could cost trillions of dollars and require more than a decade of intense effort. An article by Maj. Gen. (Retd) S.C.N. Jatar.
From the Business Standard
Peak Oil and India: An Analysis
Are we scraping the bottom of the barrel? Despite the Big Oil bravado, energy gurus actually believe the world might be nearing Peak Oil The End of Cheap Gasoline. An analysis by Akhilesh Singh.
India Spends $2.2 Billion to Triple Oil Reserve
India, Asia’s second-largest energy user, will spend $2.2 billion to more than triple its proposed emergency crude oil reserves as it seeks to protect the economy against supply disruptions. Four caverns with a combined capacity of 12.5 million metric tons will be built at a cost of 133 billion rupees ($2.2 billion) and add to three with 5.03 million tons of capacity under construction, Indian Strategic Petroleum Reserves Ltd. Chief Executive Officer Rajan K. Pillai said. The government may turn to its biggest refiners Indian Oil Corp. (IOCL) and Hindustan Petroleum Corp. (HPCL) to help fill the reservoirs, he said.
From Bloomberg News
The Demise of the Car
Global production of oil started to flatten more than seven years ago, in 2005. And the developing world, which garners headlines for its increased demand for oil, is running mainly on coal-fired electrical power. There is no question that the non-OECD countries are leading the way as liquid-based transport – automobiles and airlines – have entered longterm decline. Why, therefore, do policy makers in both the developing and developed world continue to invest in automobile infrastructure? [Also read: Peak oil? The trend to watch is peak car. A blog post by Nick Butler of the Financial Times]
Ready for peak oil?
As cities expand and markets keep fuel prices high, Indians are demanding better public transport. The States must deliver, but they are only inching ahead. (Editors Note: The article deals with issues plaguing public transport in India, and has very little to do with Peak Oil itself.)
From The Hindu