The exaggerated attention on ‘peak demand’ for oil, a point in time when demand growth for oil peaks and has started to decline, is misplaced, the authors argue, partly because the date at which oil demand will stop growing is highly uncertain and partly because even after the so called ‘peak demand’, oil demand is unlikely to fall sharply as the world would require large quantities of oil, decades after the peak. India is expected to account for 30-40 percent of overall demand growth for energy in the next two decades. India’s oil demand alone is expected to increase from about 4.4 million barrels per day (mb/d) in 2016 to about 9.7 mb/d by 2040. One of the key drivers of this demand is the projected five-fold increase in the number of cars in India. While technological, macroeconomic and geo-political factors may shape the future differently, the probability of […]