The Political Economy of Energy and Growth

21st century global realities have altered the concept of national security and energy is fast becoming one of its pivotal components. Energy is the lifeblood of modern societies to drive growth and stimulate economic activity and any slump in its availability can hamper production process and growth. It is particularly critical for India as it depends on energy imports to fuel everything from transportation to communication, and education to health delivery systems. This book illuminates the possible policies and measures to successfully meet the long-term energy challenges. To derive these, the book combines theoretical and empirical issues and draws its conclusions from rigorous methodologies and latest data. It covers a wide range of issues on energy such as trends in oil markets, oil diplomacy, political economy of reforms, environment issues, interaction between macroeconomic policies and the energy sector, technology challenges, and innovations in oil industry. The editor also analyses India's national energy policy and its broad long-term implications towards achieving energy security. Contributors to this volume - Shahid Ahmed is Professor at the Department of Economics and Director of the Centre for Jawaharlal Nehru Studies, Jamia Millia Islamia, New Delhi; Mani Shankar Aiyar is member of the Rajya Sabha; Afsaneh Beschloss is President and Chief Executive Officer of The Rock Creek Group; N. R. Bhanumurthy is currently working as Professor at National Institute of Public Finance and Policy, New Delhi; Sukanya Bose is presently working as a Consultant at the National Institute of Public Finance and Policy, New Delhi on macro issues relating to the Indian economy; Fereidun Fesharaki is Chairman of FGE - FACTS Global Energy, a leading consulting group focusing on oil and gas markets of East of the Suez, Europe, and United States; Bill Gammell founded Cairn Energy and was Chief Executive from the Company's initial listing in 1988 until 30 June 2011; Anil Jain is a member of the Indian Administrative Service of the Government of India; Najeeb Jung is currently serving as Lieutenant Governor of Delhi, the ex-officio constitutional head of the state; Ajit Kapadia was the first Director (Planning) Gas Authority of India Ltd (GAIL). Following that he served as Managing Director of Hindustan Oil Exploration Company (HOEC). Currently he is member of the Gujarat Council of Confederation of Indian Industries (CII) as well as member of CII's Gujarat Energy Panel; Shailly Kedia is Associate Fellow and Area Convenor at the Green Growth Strategies Area of The Energy and Resources Institute (TERI) in New Delhi; Praveen Kumar is a Senior Consultant and heads the South Asia Oil and Gas Team at FACTS Global Energy (FGE); Vikram Mehta is currently the chairman of the think tank Brookings India. He is also a non-executive director of, Mahindra and Mahindra; Colgate Palmolive India Ltd and Larsen and Toubro; Sanjiv Misra is currently an independent director on the Boards of a number of Indian companies, including the Bombay Stock Exchange; Sudipto Mundle is a member of the 14th Finance Commission and an Honourary Emeritus Professor & Member of the Board of Governors of National Institute of Public Finance and Policy (NIPFP), New Delhi; Kirit N. Naik is working as Director with Centre for Fuel Studies and Research; Rita Nangia is a development practitioner with over 35 years of hands-on experience working on complex issues in energy and infrastructure sectors in the Asia and Pacific region; Ligia Noronha is a Senior Fellow of The Energy and Resources Institute (TERI), India, and Director of its Resources, Regulation and Global Security Division; Rajendra Kumar Pachauri is the Chair of the Nobel Peace Prize-winning Intergovernmental Panel on Climate Change (IPCC). He is also Director General of The Energy and Resources Institute (TERI); Asha Ram Sihag is an (Indian Administrative Service) IAS officer who has worked with the Government of India, Government of Himachal Pradesh, the Energy and Resources Institute and the Asian Development Bank; Anjali Tandon is an Associate Fellow with the National Council of Applied Economic Research, NCAER, New Delhi; Daniel Yergin is author of the new book The Quest: Energy, Security, and the Remaking of the Modern World.