Economics of the Energy Crisis: Environment, Policy and Security in the Indian Subcontinent

The global energy crisis is a two-dimensional phenomenon: on the one hand, the gap between a continuously depleting supply capacity of fossil fuel and rapidly increasing demand for energy is fast widening, and, on the other, the burning of fossil fuels intensifies the problem of global warming day by day. This book explores this global crisis through a regional focus, exploring the issues as they relate to the Indian subcontinent. The book argues that since no source of energy is entirely pollution-free, it is essential to place greater emphasis on enhancing energy-use efficiency. This requires proper auditing of existing energy use and proper management of future use. Providing the foundation for this argument, the first section of the book examines the root cause of the problem: the supply-demand imbalance of energy. Alongside this, market imperfections in energy pricing are also discussed. The second section of the volume explores the environmental and political dimensions, examining policies in the region designed to provide a sustainable environment. The third and final sections present several plausible policy prescriptions to solve the problem. This book will be of particular interest to researchers of energy economics and policy, sustainability, environmental studies and South Asia more broadly.