Help at hand in India
Conservation, EVs and renewables can play their part. But India wants much more yield from its own oil and gas resources too
India has awoken to the imperative. Forecasts for soaring energy demand in the coming decades implies a costly and inevitable surge in imports—unless the country's maturing oil and gasfields can be rejuvenated or new projects brought into production. While oil consumption has risen steeply in the past decade, production has flatlined. Last year, according to BP's statistics, output was just under 0.9m barrels a day, less than five years ago. Consumption was 4.5m b/d. No one expects India to reach anything like self-sufficiency in its oil sector. But a domestic boost would help tame the pace at which the deficit widens. Resources remain significant, but have also been declining in recent year
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