India, April 29 -- The oil age was triggered by the invention of kerosene in 1846 and got further consolidated with the development of the oil drilling process in 1859. Both these events accelerated the use of oil which, in turn, fueled global economic prosperity. The period from the end of the second World War to the early 1970s saw an uninterrupted oil boom as the rising oil output matched an ever-increasing oil consumption globally.

But as the oil-fed economies started to see the collateral damage unleashed by fossil fuels in the form of climate change, the popularity of oil started to wane post the 1970s. This also heralded the advent of renewable energy.

Today, renewable energy is steadily gaining momentum and preference over tradi...