Economics of Oil in the Context of Energy Security
Author Dr. Arvind Dewangan Dr. D.P. Gupta Naveen Rai Download Pdf
Pages 47 to 50
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Abstract

Since the advent of industrial revolution, energy has become the key to growth and development. Modern life is dependent on consumption and use of energy so much that per capita energy consumption is directly proportional to per capita Gross Domestic Product of the country. The per capita primary energy consumption in India is about 1/3rd of the world average per capita primary commercial energy consumption. It is about 1/20th of the per capita energy consumption of United States of America, about 1/10th of the per capita energy consumption of Europe and about 1/4th of the per capita energy consumption of China. Any policy and programme for growth and development in India will have to address the issues of access of energy resources as well as harnessing them for the benefit of the population.

Key Words : Energy, Energy Consumption, oil and gas, Renewable energy

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