Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on January 9, 2005
India Economic Summit 2004
While there is unclear evidence that the world is running out of fossil fuels, panellists agreed that we cannot continue to burn them at current rates given the environmental cost.
Alternative sources of energy must be developed that are clean and economically viable.
“There is a commercial incentive – and not just a moral incentive – to work towards a sustainable energy system,” said Vikram Singh Mehta, Chairman of Shell Group of Companies, India.
World Economic Forum
BBC World Debate: the energy challenge ― At the start of the India Economic Summit, government, industry and experts from the energy sector debated the limitations and future prospects of the world’s energy supply.
Enlarge image
While there is unclear evidence that the world is running out of fossil fuels, panellists agreed that we cannot continue to burn them at current rates given the environmental cost.
Alternative sources of energy must be developed that are clean and economically viable.
“There is a commercial incentive – and not just a moral incentive – to work towards a sustainable energy system,” said Vikram Singh Mehta, Chairman of Shell Group of Companies, India.
However, governments must provide the incentives for industry to make this shift and reduce subsidies that encourage the overuse of hydrocarbons, said Issam Chalabi, Chairman of Al-Sanam Petroleum & Economic Consultancy, Iraq.
Michael Lynch, President of Strategic Energy & Economic Research, USA, said that “governments react to short-term movements as if they were long-term trends”.
Some 57 percent of rural Indians do not have access to traditional fuel sources such as oil, gas and coal, said Leena Srivastava, Executive Director, Energy and Resources Institute. Alternative sources like biomass will become more important to these people.
Watch the debate televised on BBC World Television on Saturday 8 January 2005 at 0810, 1210 and 2010 GMT.
Leave a Reply