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"Renewable energy will be the most significant challenge for the oil industry. Explain, by citing three reasons, whether you agree or disagree with this statement"
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It is not true that renewable energy will be a challenge for the oil industry because of many factors. The renewable energy requires more infrastructure compared to the petroleum oil (Piotrowiak (2012). This process makes the consumers abandon the renewable sources of energy for oil. The price of oil usually fluctuates. It creates uncertainty in the market. The consumers are subjected to speculation. This process affects the prices of other products given that the industries rely on petroleum oil to run their plant and machinery. The petroleum oil undergoes many processes before obtaining pure oil. However, the other sources of energy like wind energy involves many processes.
The transition to the use of electric cars will need an industrial transition from the old model spare parts to the manufacturing of electric vehicle spare parts. The adoption of renewable energy vehicles will require continuous monitoring and control software in order to maintain proper functioning of the vehicle. Thus renewable energy will not be a major challenge for the oil industry. The process will cause an additional cost to the owners of vehicles. According to Chan (2012), the marginal returns from the transport business will drastically reduce. Consequently, many potential investors in the transport will be sent away. The electric vehicles will also require extensive facilities for the safe transmission of electric energy to the intended destination. The transmission facilities will require extra electric energy. The cost of using this form of energy will be high. The common form of renewable component, ethanol, and gasoline are not suitable because of the high oxygen content of the mixture. The high oxygen content makes the mixture unsuitable for pipeline transmission.
Safe transmission is financially constraining. The additional costs make the preference of the renewable energy sources
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The energy that comes from sources which are continually replenished such as geothermal heat, sunlight, tides, wind, water and waves is widely known as renewable energy. We can also define renewable energy to be the energy that comes from the natural and persistent flow of energy found in the immediate environment.
However it is also used in the rural areas. Renewable energy gives an encouraging range of technologies which can be used today and even in the future. According to Sorensen (2010), the most important advantage of renewable energies is reduced rate of carbon emission to the atmosphere.
Setting up a wind turbine is relatively cheap compared to building a hydroelectric power plant and once it is operational it requires minimal maintenance and it is not labour intensive since the wind does all the work. It is economical because it cuts back on labour expenses.
Arguably, energy is an indispensable prerequisite for causing change or performing work. Renewable and none-renewable forms of energy are the two known forms of energy that have been in use for century. The none-renewable energy source is the natural energy source that is in limited supply.
This research essay will make an earnest attempt to elucidate the wind and hydropower generation of manoeuvres of both Australian and Bangladesh government, to minimise the global warming and of that USA, China, Brazil, Russia and Canadian governments in general by giving unique attention to various empirical studies and eminent authors’ views.
There has also been question over the possibility of depletion of current fossil fuel reserves, where only certain states are able to produce these fossil fuels on a commercial scale and supply them to the rest of the world making them their chief economy driver.
Renewable Energy VS Fossil Fuel. In recent times, there have been worries in the energy sector over the possibility of clean energy instead of using the type of conventional fuel that pollutes the environment and has been affecting it negatively, one of the notable negative impact of fossil fuels is increase in the global warming.
And for the reason that fossil fuels have been foreseen to be all-consumed one day, the government never stops seeking out for the most excellent renewable energy resources to rescue our economic welfare. Also, being able to find another
t day have come up with several measures that are used to conserve the energy resources so that humanity would not face an energy crisis in the future.
The production of renewable energy requires expensive machinery that is used by skilled people. However, in the recent past,
Considering that there is increasing demand of electricity especially for industrial purposes, the use of non-renewable energy has reduced because it
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