Article written by Eshwer Kale published in the Economic and Political Weekly (EPW) (Vol. 52, Issue No. 3 dated 21 Jan, 2017)
The Carbon Climax: End of HydroCarbon Legacy
This paper is a lucid introduction to Peak Oil and its dire implications. It spells out the basics of Peak Oil and links Oil Exploration Dynamics to World Giant Oil Fields and eventually to the interconnectedness of Energy, Economy and Food availability. It also states India’s position in this context and cautions us unless we act with the foresight; we are heading towards economic contraction, declining food production and hyperinflation. The paper also underlines the fact that we live in an energy deficit society and failure to develop a foresight would surely be an ethical failure on our part.