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- Title
'PEAK OIL'AND ALTERNATIVE FORMS OF ENERGY: NEED TO TRANSIT TOWARDS GANDHIAN ECONOMIC THINKING.
- Authors
Yajnik, Gaurang
- Abstract
The alarming and persistent global economic and financial failures of the last few years and the alarmingly increasing climate change situations have raised the eyebrows of many thinkers. Some attribute them to mere faulty decision making and misplaced economic directives leading to manipulation by vested interests but the reality is different. Modern industrial society and its growth model is based on oil, a finite nonrenewable energy resource; which has reached its peak according to Hubbert's Peak Oil theory. 'PEAK OIL' is a well-argued controversial theory. 'Peak oil' and other climate change situations are predicaments which need to be combated. We shall have to design our future course of action to cope up with them sustainably. Part I of this paper critically discusses 'Peak oil' situation. The alternative forms of energy in the above context and the question of the viability of each alternative forms of energy is discussed in part II of this paper as many of them are directly or indirectly oil-dependent in nature. This paper also foregrounds the possible inevitable transition towards sustainable economic growth based on sustainable consumption pattern in the light of Gandhian Economic Thinking.
- Subjects
HUBBERT peak theory; CLIMATE change
- Publication
Research Horizons, 2015, Vol 5, p40
- ISSN
2229-385X
- Publication type
Article