Economics of the Energy Crisis Environment, Policy and Security in the Indian Su.pdf
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Energy is the backbone of modern civilization. The major share of this energy
all over the world, however, comes from only one source, namely, fossil fuel, to
be more specific, oil and coal. So any kind of demand–supply imbalance of
these fossil fuels may call forth a severe energy crisis, which can upset all the
development efforts all over the world. However, this is only one side of the
coin. On the other side, the crisis is much more critical. Fossil fuels-fired ener￾gies are identified as the main culprit behind present climate change, which is
continuously damaging the sustainability of our ongoing developmental
works. But the problem is that every day we are slowly but steadily approach￾ing such a bleak destination. To get rid of such a dark future, the entire world
is engaging in the search for alternative energy sources. Hopefully, our scien￾tists have invented a number of alternative energy sources. But even after that,
neither the economists nor the environmentalists can find their final answer to
their search for these alternative sources. If they can, this resource would be
meaningless.
None of the alternative energy sources discovered so far can become a via￾ble alternative for various reasons. First of all, none of them can become cost￾effective in relation to coal-fired or oil-fired energy sources universally. Second,
none of them alone can be an effective alternative source of energy supply.
Third, none of them is absolutely pollution-free. Almost all of them pollute the
environment, although in a different way from what would be from fossil fuel￾fired energy sources. All these negative externalities of alternative sources make
the energy crisis much more deepening.
It is at this point that the energy crisis needs to be addressed from a different
perspective altogether. It is to be understood that so long as a viable alternative
energy source can be found, we have to emphasise enhancing energy-use effi￾ciency. But enhancing energy-use efficiency primarily requires proper auditing
of existing use and proper management of future use. The present volume is
organized keeping this outlook of the editors towards the energy crisis we are
facing at present.
The volume is subdivided into three sections. In the first section, the supply–
demand imbalance of energy, which is the root cause of the problem, is dis￾cussed in the context of the Indian subcontinent. Along with this market,
Preface xiii
imperfection regarding energy pricing is discussed thoroughly. In the second
section of the volume, we shall try to visualize the problem from a purely environmental perspective and discuss the country policies to sort out a sustainable
solution to the problem, keeping in mind the international politics in this
regard. Finally, in the third section, the authors have tried to draw a plausible
policy prescription to solve the problem.
It is our immense pleasure that Routledge, one of the global leaders in the
world of research publication, has agreed to publish this volume. Energy crisis
is a global issue, but it has some novel dimensions also in different continents
and subcontinents. With the help of a global publisher, problems of the Indian
subcontinent will come to the global knowledge.
The endeavour of the editors will be amply rewarded if the readers benefit
and the researchers can find new routes of thought from the present volume