World Energy and the Issues Surrounding It - Essay Example

The main conversation lies on the fear that the world oil may have reached peak oil, a situation that politicians interpret to mean that we have already reached half of the world’s oil reserve. Many oil geologists predict a slow decline in oil availability, which in turn will cause a major world economic crisis. This is according to Schwartz (1987) who cited that this is because many industries and many forms of transport rely heavily on oil. The numerous articles journalists have published about the end of oil as a source of energy point to a world oil crisis hence the numerous talks. Generally, the world will deplete all fossil energy, including natural gas and coal, in the near future.

The suggestion that wind and solar power be looked to as a source of energy seems logical at the onset. However, despite these two being sustainable they are marred with severe doubts. for instance, they are inconvenient. According to Tester (2005), not only do they produce very little energy that can match up to the world’s energy needs, but they are also unreliable and the machines they use in wind plants still need oil to move. Policy-makers have poured plenty of resources into generating cheap energy from these sources but the outcome has been dismal.

Besides its depletion, the use of fossil fuels also raises environmental concerns. Oil spills and global warming are just some of the issues that have environmentalists advocating for renewable clean energy. In view of all these problems, it is imminent solar and wind will be turned to as a source to provide the world’s energy. The UNEP report on Global trends in sustainable energy investment (2009) shows that governments and large companies continue to pump billions in resources into companies selling “green energy” with the belief that the future of energy lies in these companies.

Another issue that arises when discussing matters of energy is that of monopolies. Energy production is an expensive endeavor and thus those capable of undertaking it remain few (Smil 2010). With the exception of the government, private energy companies seek profit first before the delivery of service. This has resulted in hiked electricity charges, unexplained blackouts, hiked fares, and overall chaos. Regulation of energy by the state has seemed to resolve the issue of monopolies but lack of transparency and political has challenged this endeavor.

In conclusion, one thing remains certain; an energy crisis is looming. This is unless we can find a renewable source of energy that can meet the world’s energy needs. Environmentally, the energy source has to be more favorable than its fossil fuels predecessors are. Until the world finds a viable solution, we must strive to conserve energy in order to maintain the usage of fossil energy fuel. The transition into renewable power will be marked with major setbacks and energy conservation can help straighten these kinks. Nuclear power could also be a lasting solution although the costs and risks involved are high. In summary, we should find a permanent and working solution before we start feeling the effects of the impending energy crisis.