Analyse the Reasons of the Energy Transition - Petroleum Essay Example
Analyse the reasons for which countries are seeking to make the energy transition The world is passing through a period of transition from oil to many sources such as geothermal power, solar power, wind power and hydropower - Analyse the Reasons of the Energy Transition introduction. As the impassioned discussion over the issue of renewable sources comes into the spot light of the world, it has long been asserted that the issue of new sources in modern times is very prominent. The energy transition is caused by a variety of connected factors which each contribute to the situation.
This essay will examine closely to the main reasons: nonrenewable energy sources, high price, conflicts and climate change. The first factor must be aware of is that the main sources (e. g. oil, natural gas, coal and uranium) people use are nonrenewable energy sources. For instance, it is estimated that within a few decades the shortage of oil will be pervasive feature of world. However, the world’s demand for oil is increasing 1 or 2 percent each year. High price which concerns the law of supply is closely relative to the first reason. As the nonrenewable energy sources become limited, the price of them has fluctuated greatly.
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The first oil shock came in 1973-4, leading the oil price quadrupled. In 1979-80, the Organization of Petroleum Exporting Countries, of which most oil-exporting nations are members, doubled its prices. In 1990, the retail price per gallon of regular gas was $1. 16, but in 1970 was $0. 36. Higher prices led to slow economic growth, higher inflaction, big trade deficits and increased unemployment. In addition to the high price, it is generally held that the main reason of energy transition becoming widespread is conflicts. Wars are already being fought over the control of oil, the main fossil fuel the earth depends on at present.
Due to the reliance on oil by the western countries, a number of Arab oil-producting countries use oil sanctions which mean stopping shipping oil to the United States and other countries allied with Israel, bringing western economy really the serious influence in 1973. As long as that dependence remains, more conflicts seem likely. Climate change is another important contributory factor. When fossil fuels are burning, carbon will be released into the atmosphere as a gas, carbon dioxide. There is a growing international awareness of the relation between greenhouse gases (most is CO2) and global warming.
The rising global temperatures will increase the frequency and seriousness of extreme weather events. The final point is that the factors of why countries are seeking to make the energy transition can be seen to operate in combination. Nonrenewable energy sources may be the underlying reason and it can cause high price and conflicts. The burning of these fossil fuels is causing the climate to change in potentially very destructive ways. The problem will be even worse if countries cannot seek a possible way to make the energy transition.