Oil and it, products are used as the main sources of energy for about last one and half centuries through they dominated basically the twentieth century. Petrol, Diesel, kerosene, Nephta, Natural gas and other products are used as conventional sources of energy in industries, automobiles and production of electricity also.
Because we know that use of energy per capita indicates the economic level of a country and the life standard of its population. In twentieth century in the second and half mainly, oil got political importance also. The oil diplomacy was turned into the policy of oil supremacy. The gulf war of 1991 is its example.
In India, oil has been a big factor in budget to make economists think about its alternative. In India also, there is a huge reserve of oil but large population size and so its. big demand. Of oil cannot be fulfilled by its domestic production, Indian government has to import and for that to pay a big amount of foreign currency for mitigating India’s requirement of oil. But India, in fact cannot afford this expenditure without affecting its economy and so, it results in rising of inflation rate.
Some problems are faced by majority of the countries of the world. India is finding out its alternative source of energy.
It has been proved that natural. Gas can be used as the best alternative to oil. India has big reserve of natural gas. Oil and Natural gas Corporation has been constituted for exploration of oil and gas reserves in India and abroad. It has find out plenty of amount of natural gas in India. This natural gas when pressurized to turn into liquid form, can be used for domestic. Purposes in the form of L.P.G. This LPG is used for domestic purposes through cylinders and even by the facilities of pipe line in some parts like Anklesh war, Baroda in Gujarat.
Compressed Natural Gas (CNG) has proved useful in automobile vehicles as fuel. This gas does not add to environmental pollution.
About oil, it can be said that, if used at the present rate, it would last only for a few decades, while natural gas reserve is comparatively of bigger amount. It therefore, shows that twentieth century was of oil, but twenty first century will be of natural gas.