Surging Oil Demand in India


The increase in demand for oil gives credence to the fact India’s economy is growing at a rapid pace.  Oil product consumption in India expanded at the fastest pace in a decade in October as petrol prices fell amid a global commodity slump. “There is no doubt of a pickup in the economy, and that’s fueling India’s oil demand,” said Amrita Sen, a London-based analyst with Energy Aspects Ltd. who holds an economics degree from Cambridge University. “This is a clear indication that India’s middle class is going out and spending.” The economy is growing at a rate of greater than 7%, according the Economist reports. This is a clear sign of bigger things to come and that the economy is picking up steam quickly.

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Oil consumption in October grew at the fastest pace in a decade!

Oil imports are set to rise to an estimated 90% by the year 2040, from a present 70%, as domestic energy consumption rises according to International Energy Agency [IEA]. This is a strong indicator of where the country is headed in terms of economic growth and developments, as oil is a strong indicator of wealth and affluence. With this increase in demand, India will be pinned as the second biggest oil importer only behind China, making it a major contributor in world energy demand in the next 25 years. Plans are being made to import more of the country’s oil from Middle East and parts of Latin America. Continue reading

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The new deal: Electric Cars


An article I wrote a little while ago. It stills holds a lot of relevance till today and may well be a powerful field in the future.

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Electric cars nesting their way into our lives?

The economy is slowly recovering from a recession. At the moment consumers are facing higher prices with the onset of higher inflation rates. With the Jasmine revolution and downturns in Japan’s economical condition, there is scarcity of oil in circulation, leading to a rise in prices. The cost-pull inflation effect is hitting car manufactures and leading to decline in sales, because of reduced aggregate demand.

Many auto companies are turning to what they indicate to be a huge sector in the making, and that is electric cars. Continue reading