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Confronting the Global Energy Crisis
Saturday, April 24, 2010@ 12:43 AM
Author: admin

Drilling oil has been the mainstay method to obtain oil and gas for all our energy needs. For the past many years, mankind has been successful in extracting petroleum from under the seas. Though offshore drilling is profitable, it is extremely expensive and the process of detection and directing the drill to the exact place requires sophisticated technology and constant monitoring.  The dwindling proven sources of oil and gas have suffered heavy casualties in satisfying the world’s demand for oil.  Soaring oil prices have also been a cause for concern for the economies of emerging economies.  With the stock of natural gas dwindling by the day due to heavy usage, pipeline jobs face a bleak future. Energy companies constantly need to explore newer sustainable energy options to bring in more energy and also stabilize pipeline jobs.

Oil prices can normalize for the immediate future if the dependency on petroleum is minimized. The first step energy companies should take is to reduce demand by increasing efficiency. As an example, heavy vehicles like tractor-trailers should be constructed to get twice the fuel economy of the present day trucks by raising vehicle weight restrictions.  Estimates state that alone could cut fuel per ton mile by 15-30%. Petrol-hybrid SUVs have the power to triple present efficiency and should be encouraged. Use of domestically sourced natural gas will help eliminate or drastically reduce American oil use.
On the environmental front, research shows that the emissions from fossil fuels have contributed to 88% of the non-naturally occurring carbon dioxide in the atmosphere. Needless to say, these CO2 emissions are suspected as root cause of global warming. The alternative sources of energy that we should bring should be green energy.

The threat of global warming has created an urgent need to use renewable sources of energy with no CO2 footprint, and solar energy may fit the bill. Global energy companies like Shell Oil are now focusing on environmental protection as an element of the search for renewable energy sources. Oil exploration in the Arctic could potential spill enough oil to spell doomsday for the aquatic flora and fauna.
We need to tap sustainable energy by the means of solar energy or wind energy or hydroelectric power to generate more energy. It is certain that a  reformed regulatory framework would help to avoid future energy controversy while fostering the responsible pursuit this sustainable energy. Energy companies necessarily and naturally look for market certainty since government’s inconsistent policies can have a negative impact on the energy sector. To tackle conflicting interest in producing energy, energy independence is one the goal which requires clear cut decision making and policy.

The gravity of the situation can be improved with the right approach and policies being adopted.

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