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Posts Tagged ‘global energy crisis’

Global Energy Crisis
Friday, May 14, 2010@ 11:17 PM
Author: admin

Global Energy Crisis

Energy is the lifeblood of modern era. Oil is necessary for almost all machines to move and we live in an era where oil is necessary to produce, transport food, for movement of vehicles, airplanes etc.  We live in the age of oil.  Oil is the most important ingredient for our lives, for industry, for economic development, for our prosperity but unfortunately, we are facing a global energy crisis with natural reserves being depleted fast due to over consumption.

The reasons for global energy crisis are many.  It can be the aging infrastructure, the disrupting activities at oil refineries, over consumption during the cold winters. In certain cases, accidents and pipeline failures also caused a crisis in energy supplies.  Unforeseen attacks by terrorists, or certain political events like change in government regime, coup, etc, may cause disruption in oil and gas production. Dependence on non-renewable sources of energy instead on utilizing the renewable sources of energy is also one major cause of this global energy crisis.  Abundantly available non-renewable sources of energy like coal, petroleum that can be used immediately results in not exploiting the non-renewable sources of energy like wind, water.  Now, with the global energy crisis, nations are aware of the threat of the current situation and new technologies and developments are carried out to exploit the renewable source of energy.

The US is heavily dependent on oil imports for its ever-increasing needs of energy.  With its huge companies and growing economy, the US also requires a growing energy base that has not been feasible.  Instead, the US is depending on imports and petroleum imports have grown steadily and is said to be at record levels. The growing energy scare is evident from the high rise of oil that has gone over $30 per barrel and is still on the increase.

Almost 90% of the world’s energy needs are met by the non-renewable sources of energy like coal, oil and natural gas.  This has resulted in an alarmingly increased rate of depletion of the natural resources.  This is of concern globally as the future generations would definitely be at threat.  Rapidly increasing oil prices are a threat to the economic growth of the nation, by way of increasing inflation and rising unemployment.

All countries of the world are united to tackle the global energy crisis.  Certain countries who depend for oil on other countries find it difficult to exercise foreign policy options. This poses a security threat for the concerned nations.  Global energy crisis is posing economic and security threat to almost all countries of the world.

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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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