Global Energy Crisis

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Man is dependent on energy, which has been the key to his rapid industrial growth and technological development. The pace of development after industrial revolution is unprecedented. Just 200 years ago, the world experienced energy revolution that launched the industrial age. The catalyst to this epochal change was ordinary black coal; an energy rich hydrocarbon. A century later, oil and gas were added to satiate the thirst of industry. Man, still relies mainly on these fossil fuels. Nevertheless, many other sources of energy: hydro, solar, nuclear, wind, geothermal, biogas and wave have been taped. These sources of energy are not only renewable but clean as well. Since the hydrocarbons are exhaustible and their use also threatens human health and environment; this fact has necessitated transformation from non-renewable energy resources to renewable and clean energy resources so that economic growth could be sustained and environmental degradation could be prevented. Energy is not only vital for the industry but it is also the life blood of our daily life. The consumption of fossil fuels has increased manifolds due to rapid industrialisation of developing countries like China and India. However, the major proportion of hydrocarbon is consumed by already developed countries like the US, Japan and Western European states. The fossil fuels are also the main source of energy for heating of houses and running motor vehicles and generation of electricity. Since the demand has been increased far more than the increase in the production of fossil fuels, a disproportionate imbalance between the demand and supply has been created which has resulted in energy crisis. If the fossil fuel production remains constant, it is estimated that the reserves will be depleted soon. The oil crisis of 2008, when petrol prices soared to $150 a barrel, was an early symptom of such scenario. The increasing demand coupled with speculations of depletion of fossil fuels caused sky rocketing rise in the prices, which was the principal catalyst behind economic crises in the world. The energy crises are caused due to disproportionate dependence on non-renewable energy resources fossil fuels. As the demand of energy is set to grow rapidly during next 20 years the supply of energy is going to decline, which could give rise to competition and conflict coupled with economic instability. Meanwhile, human environmental and health hazards could become irrecoverable. Therefore, man should strive for energy independence that can be achieved only through fuel choice and competition. And the first choice of sustainable energy is clean and renewable energy.

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