Recent price hike of the oil has shaken up the entire world economies and people’s day today life activities. The high level protests like strikes ,rallies called by people of India to protest the unpredictable price hike of the oil is a purely political game playing by the superpower like America and its allies. Of course, it is a politics within oil; oil the Natural (Hydrocarbons) and food to the man made machines.
About 95% of the oil produced by the different countries were controlled and handled by their respective Governments. Whenever any tension is arising, or war like situation occurs in the Gulf region particularly, Iraq, Iran or Palestine by the foreign western countries for their unethical vested interests, illogical strategies and defending their nations and their country status quo; the gulf nations, using a strong defensive tool which is OIL. It is obvious, if the country like America or Israel attacks on Iran, no matter, Iran may attack on Saudi Arabia, the result thereof would be incredible price hike of the oil.
The recent unpredictable price hike of the oil is the witness history of two and a half decade and India is no exception. No other country has affected at large as much as India is, in terms of oil price as India Imports 73% of oil mainly oil from Gulf countries, particularly Saudi Arabia, which is considered to be larger oil producing country in the world. Fast depletion of Natural resource (oil) may result the price hike. America is the only kitty which has large oil reservoir. So if we look at India, neither we have reservoir nor do we produce oil at large. So we are in trouble, how to fetch and quench the oil thirst in our daily life activities, without harming the environment and common mans daily budgetary expenses, is the question of today.
Scientists have discovered the oil in Rajasthan and their study reveals that large gas production is in the area of Bay of Bengal. If this happens we may able to export gas to the neighboring countries. Beside world look other options like Russia, a formally USSR, when practically Engineered producing maximum no. of crude oil, which when import may be cheaper as compared to Gulf countries. Non-Producing oil countries, particularly India, must withdraw/cancel the subsidy of the oil, which is the biggest hurdle for becoming a self- reliant. As the world economy is based on bullion, no matter of India sidelined the US dollar and take gulf currency into consideration for denomination value. The diplomacy should tackle with delicacy as 90% of the oil producing countries in the gulf region is not democratic.
The one thing which hits badly is the public transport sector in the world because of the recent price hike of the oil. To control this, the ultimate practicable and fast energy is nuclear energy. India and the rest of the non - oil producing counties must go nuclear as of now as it is a need of today and tomorrow. All other forms of energy whether clean tech or otherwise, also need to be developed. Besides India should go for Bio fuels, wind, gravity and solar energy for domestic energy needs, while rising carbon emissions could still be controlled to curb Global warming.