Life without turm‘oil’?

IIPM MANAGEMENT INSTITUTE

While the world economies are growing at an astonishing rate, our energy resources are being devoured like no one’s business. To gauge the criticality of this issue, think of a future where there is simply not enough oil to serve our needs. Economic growth would stall, oil prices would go beyond the reach of the masses, dangerous energy games would be played by nations. Iraq was just a small trailer; there could be many more brutal wars fought, bringing massive death and destruction.

The world has been waking up to this reality for quite some time. A number of energy alternatives are being considered to quench our relentless thirst for oil. However, these alternatives have hardly been promising to satiate one’s expectations from them, as Rajendra Singh, Chairman, Tarun Bharat Sangh, comments, “An alternative means something which is not as effective as the original.” Undoubtedly, most of the ‘alternatives’ used to dissuade consumers from fossil fuels have failed more or less. Take the instance of India, which consumes a normal (compared to developed world standards) 900 GW of energy annually, out of which, a total of 67% comes from high polluting coal. Would the world fare any better in future? Would any of the potent ‘alternatives’ we have today, ever be able to replace the original, non-renewable ones?

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative