Busting the peak oil myth

Last fortnight, a leading oil MNC came out with its Annual Statistical Review of World Energy and leading business papers splashed it across their front pages. This is an annual ritual in which the company reminds the world that oil is a scarce commodity and will soon be extinct like the dodo.

As per the review, India


Peak oil theory states that any finite resource like oil will have a beginning, middle, and an end of production, and at some point it will reach a level of maximum output, which will be its peak.

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