Peak oil theory: The Indian response

It will be better for India to start planning for a time when oil will be in limited quantity and prices far above the current level.

Crude oil prices have made a record each day during the third week of April, reaching a high of $ 117 per barrel. Since 2004, crude oil prices have been increasing with no end in sight. At the same time every year, most energy experts have been forecasting that prices would come down next year. All of us have been proven wrong.

Various explanations like Russian trouble with Yukos, Venezuela

The real fact is that no one knows for sure why crude oil prices are where they are today and what may happen next year or next 10 to 25 years. World oil demand is forecast to increase from the current level of 87 Million barrels per day to 118 which is an increase of 31 million barrels a day (MMBD).

In recent years, there is a new debate on