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India's oil dependency at a new high-V: Production will eventually shift to low cost Middle East
Oct 23: The latest analysis shows that even though peak oil demand is reached quickly enough in the 2020s, crude demand will go down on a slow curve up to 2050
8There won't be a sudden wilting of demand even with the advent of electric cars.
8Then again, even as crude demand shrinks, the offtake of natural gas will be significantly higher by 2050, the new analysis shows.
8For countries such as India, the domestic oil & gas industry will shrink as will it in most other parts of the world,
8Production will shift to the low-cost Middle East region.
8And even though output shifts to the Middle East, low oil prices will shrink incomes and the region is likely to see a huge amount of instability.
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