"Oil's Not Well"

editorial from The Times of India:

India's economic growth could come up against two major roadblocks: energy and infrastructure. Oil prices are flirting with the $100 mark, prompting questions on India’s long-term energy plans. The International Energy Agency has projected that China and India will account for 45 per cent of the increase in demand for oil between now and 2030.

Transport will lead the demand surge. The supply-demand gap is set to worsen for a number of reasons. Proven reserves are estimated to last another 40 years at current rates of demand but the economic and political costs of extraction will increase. How should India cope with the emerging crisis?

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