CRUDE REALITIES

Amidst the mushrooming ideas of India, the attempt make rocket fuel as cheap as mineral water is a move to bring down launch expenses drastically. Are we keeping a meaningful silence about the soaring oil prices?

The ‘deadly dependence’ on foreign oil is threatening the very foundation of the energy security of India in an accelerated manner. Oil dependency has become a real challenge to our economy. As the oil price level reaches sky high, government is doing precious little to confront the so called “dependency dilemma.” Oil subsidies provided by the government do not address the hike I fuel price. India, in tune with soaring global crude costs, had no option but to hike the oil prices, which led to anti government demonstrations. Reeling under the pressure, the common man has fundamentally lost belief in people’s government. It has shaken peoples trust in the government ofIndia.

There are several factors that attribute to the skyrocketing global oil cost. The growth appetite for oil in the global economy has risen drastically; oil price hike is a crystal clear indication of the drying up of oil wells. It took millions and millions of years for the formation of this treasure house of energy but within a short span of less than hundred years, the civilized society has consumed more than fifty percent of the total oil deposit. How can we conveniently forget the time when this invaluable energy source was thoughtlessly being destroyed during the gulf war? When the ‘power’ struggle had got American aid, the oil wells virtually turned into fireballs.The present political and labour situation in all oil exporting countries like Iraq, Nigeria, Venezuela and Saudi Arabia has affected its production, and uncertainty in the dollar value has also contributed towards this. In the wake of ‘crude realities’ the government should not turn a blind eye towards energy issues. India should blaze a new trail with technological breakthrough, research, and domestic discoveries and should open up new horizons to explore alternating energy resources.

As India is endowed with substantial energy resources it should harness the energy sources effectively. The nuclear power plant is an easily accessible substitute. We should adopt nuclear power based power generation and transportation. There should be greater reliance on indigenous sources of supply like gasification of coal, biomass,use of ethanol and biodiesel as alternative fuels, the promotion of electric cars, and the use of renewable bio fuels which provide increased independence from petroleum and enhances energy security. Besides the development of hybrid vehicles, promotion of hydrogen cars in India can lessen dependency on foreign oil. India should take over right conservation prices and restructure the economy to plug wastage and inefficient use of oil.

A truly empowered India will emerge only when we tackle our dependence on foreign oil with a strong sense of social responsibility, political censuses and by moulding visionary leaders who refuse to live in the past and are determined enough to script a new future which is free the scourge of soaring oil prices.

Article By: Sheethu Ann George