Sustainable exploration of oil and natural gas on economic and ecological basis Sharma Shaurya* Chemical Engineering, University School of Chemical Technology, I.P University, Sector 16C, Dwarka, Delhi–78 *Email id: shauryasharma09@gmail.com
Online published on 16 January, 2015. Abstract The paper elucidates the adverse ecological impacts of oil exploration. Four case studies are briefly discussed, throwing light upon issues that are considered tangential to the oil sustainability debate. Oil wells have historically been vulnerable to both wartime and asymmetrical threats, thus posing a grave risk to both human safety and the environment. Oil spills mostly attributed to human error, have an equally deleterious impact on the flora and fauna, such as in the Mumbai oil spill. Indian market policies are known to be greatly influenced by communism with freebies on behalf of the exchequer being a classic example. The Indian economy besmirched by such consumer-end freebies has led to a debt ridden oil sector, discouraging further research in eco-friendly oil production. Lastly the contentious issue of why India should take a cautious approach in shale gas exploration with its dubious environmental credentials is analyzed. Drawing from the case studies, certain recommendations are presented that need to be incorporated in the existing policy framework to ensure that India is poised for an effective environmental governance program, testing India's democratic principles for their legitimacy and practicalities. Top Keywords Oil, shale gas, environment, economy, government, industry. Top |