ENERGY SECURITY: TODAY AND TOMORROW

Main Article Content

Dr. Babita Srivastava

Keywords

Energy security, oil, turmoil, demand, supply, sustainable, economic growth

Abstract

Purpose:

To emphasize the importance of renewable and alternative energy, as nations become increasingly reliant on increasingly less available conventional energy sources. Simultaneously, the long-term and detrimental effects of such reliance is explored and quanitified so as to better justify investments into renewable, widely available, and less polluting energy sources.

Design/Metholody/Approach:

Data is collected from a variety of publicly available sources and their relevance is explored through contrast and comparison. The graphs and data used primarily focus on energy and energy consumption such as fuel pricing and exporting as well as the rate of fuel exporting by various nations.

Findings:

Based on the data analyzed, through the continuous use of fossil fuels, a country faces multiple challenges: depletion of fossil fuel reserves, global warming, environmental concerns, geopolitical and military conflicts and, of late, a continued and significant fuel price rise. The authors conclude these problems create an unsustainable situation and that without converting their energy sector to at least be in part less reliant on hydrocarbons and similar fuels and more reliant on more widely available and less polluting energy sources such as sunlight or geothermal energy a nation will inevitably face a catastrophic collapse of their energy sector.

Research Limitations/Implications:

Without cooperation of the governments of leading energy consuming nations in redeveloping their energy sector based on this or similar research, little of what has been explored can be widely applied. Consequently, the conclusions of this paper represent a single step in the process of redefining worldwide energy consumption rather than giving an explicit answer. Further research will be needed in order to most fully present an effective argument to the public sector, the private sector, and the common citizen that energy habits must be changed.

Originality/value:

The conclusions reached are an essential part to understanding the wide reaching effects of the world’s current energy habits. With the ever increasing threat of global warming, emptying fuel reserves, and unnecessary polluting and waste habits of most nation’s energy sectors, this research, along with the cited data, can aid in the redirection of such energy habits before a point of no return. 

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