Question 1 By the year 2020, energy consumption is expected to rise by more than

Question

Question 1

By the year 2020, energy consumption is expected to rise by more than 40%. Much of the growth will appear in the developing world. Please assume that all fossil fuels will accurately fill the deficit. Identify the different concerns and unwanted side effects this may posse on the natural environment. Additionally, does this notion inflict any infringements on global stability?

Question 2

What are some of the pros and cons of the following energy resources?

Fossil Fuels
Nuclear energy resources
Renewable resources
Oil and Natural Gas

Question 3

Identify and discuss three (3) causes of the volatility within the oil and gas industry.

Explanation / Answer

1) Due to industrialization, the energy consumption is increasing day-by-day. Most of the developed countries have developed alternative to conventional form of energy resources i.e. fossil fuels. In some of the developed countries, the electricity is generated using nuclear energy. In some countries, public transport and much of private transport use cleaner form of energy like battery powered electric vehicles. But in developing countries, due to lack of proper technology and capital, they are still using fossil fuels as a primary source of energy e.g. for power generation, for transportation, etc. Due to more dependency on fossil fuels, the developing countries will need more and more fuel to cater to their industrial and public needs. But are they safe and environmental friendly. Answer is no. These type of fuels have bad and sometimes hazardous effects on our environment. Due to the use of fossil fuels in industries e.g. coal, toxic gases are released in the atmosphere, thereby making the air polluted. Also, use of petrol and diesel as fuels for vehicles pollutes the air. These toxic gases gets mixed in the air and leads to some unnatural phenomenons like acid rains. These gases are also contributing in global warming - phenomenon in which the average annual temperature of the globe is increasing every year. Though they are the cheapest form of fuel, they are having various serious implications not only on our environment and but also on public health. The air pollution caused by these toxic gases are causing serious respiratory diseases such as bronchitis, asthma and other lung diseases. The frequent use of fossil fuels as energy resources by the Developing Countries and damages caused by them to the environment has led the developed countries to raise this issue on International Platform. Kyoto Protocol is one such platform where the developed and developing countries make agreements on permissible level of use of fossil fuels. However, developing countries wants to use the fossil fuels till they attain the status of developed countries but the countries that are developed want to restrict the use of fossil fuels by the developing countries. As the problems created by the fossil fuels have implications not only on the country using it, but also on the globe. So, it is a world crisis and that's why the developed countries wants to push for the restrictions on the developing countries. It has already created rift among the countries for their vested interests and it is a clear sign of global instability, not only environmental but political also. So this problem needs to be addressed to immediately and some agreement need to be made for safety of our environment and humanity.

2) Pros and cons of following energy resources are given below:

Pros -

Cons -

2. Nuclear Energy Resources:

Pros -

Cons -

3. Renewable Resources:

Pros -

Cons -

4. Oil and Natural Gas:

Pros -

Cons -

3) The three causes of the volatility within the oil and gas industry are discussed below:

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