The United States is considered to be the world’s largest national economy. The United States have proven time and time again that its economy is one that should be modeled after by showcasing a proven track record. Although its economy is considered the largest, it has had its problems such as the Great Depression and the Recession that have taken placed recently beginning in 2007 lasting until mid 2009. Both of these economic down turns are similar in nature which has caused many to feel negative effects,
Good afternoon (teacher) and classmates. Whilst it may seem a “no-brainer” to cease investment in non-renewable power and transfer our effort, resources and investment into developing renewable energy sources, the reality is that we have become so reliant and dependent upon non-renewable energy – particularly fossil fuels – that we must continue to use, develop, and invest in such energy to maintain the living standards that we enjoy today. In our short to medium-term future, and in spite of our ever-increasing scientific knowledge about the environmental price that we pay in using non-renewable energy, we must continue to invest in it. Let me explain why.
After the War of 1812, America initially sank into a time of economic regression and the public began to lose faith in the government. The United States was in debt, British products flooded the ports, and many citizens became more concerned of their own welfare compared to the country’s. However, through years of improvement and hard work, the United States began to prove itself once again to the foreign countries. Beginning in the 1800’s, the technological developments began to greatly transformed the United States. At first, many people considered America to be a weak and undeveloped state, however, throughout the years, America slowly began to prove to the other countries that it is becoming a strong and independent state. In the end, America became an industrialized country, domestic trade became popular, and the transportation system in the country was
Renewable energy’s increasingly greater power output has “made wind and solar more competitive with fossil fuels in many regions” (Warrick). In fact, renewable energy has improved so much, both financially and technologically, that many “developing economies will ultimately choose renewables over cheap coal”, enabling them to “skip over a generation of technology” (Warrick). Hydropower, geothermal energy, solar energy, and wind energy will only keep improving in power output until they inevitably become the best choice for electricity. Now that private tech companies have begun to back renewables, their technology is increasing at an extraordinary pace. With more prominent business leaders supporting renewables, the public is more inclined to accept them. People like Elon Musk, CEO of Tesla (and many other companies), fund and promote clean energy projects to raise popular support and develop new renewable technologies. Some people argue, however that renewable energy will never produce enough energy to power the entire United States. After all, “by 2016, wind energy accounted for just over 6.7 percent of U.S. electricity production” and solar energy sits at just “0.6 percent” (Renewable). While this number seems extremely low, it has been increasing rapidly. In 2012, “solar energy accounted for only 0.2 percent of the electricity
Recent doubt in country’s energy supply as a result of political concerns in the Middle East nations, and other foreign oil generating nations, also volatility in the prices of oil, and natural gas have contributed to increase country’s energy independence through a greater local energy supply and to minimize the greater effects of the economy from any prices fluctuation in the fossil fuel markets, including the natural gas price hike in 2004 and 2005 cyclone
Recently, a report by REN21 (Renewable Energy Policy Network for the 21st Century) reported two facts that set the stage for the growth of green energy. First, in 2015, the global economy experienced the largest annual increase of renewable energy; second, developing economies spent more than developed countries on increasing their use of green energy. Another notable fact to mention is that the substantial increase in green energy
According to research, 80 % of the Energy sector is owned and operated by the private sector, some of which do not take security
Private Sector in Energy Critical Infrastructure Energy is an important necessity that most society cannot live without especially in the Western culture. With today’s technological advancement, the reliance of power is more than ever. Businesses, transportation systems, and all the way down to individual household relies on power. Without power, the US in particular, will not be able to function properly and this is why energy is one of the critical assets. The US needs the energy infrastructure to fuel its economy because without power, the US economy will not be able to function as well as health and welfare of its citizens will be threatened (DHS, 2016). The Energy Sector is divided into three subsectors; they are electricity, oil, and natural gas (Department of Homeland Security, 2015, p. 3). The private sector owns more than 80 percent of the US’s energy infrastructure responsible in supplying the fuel needs of the country most especially to businesses, transportation systems, and its citizens (DHS, 2016). Businesses, transportation industry, and citizens are vital for the US economy maintain its operational efficiency. The private sector’s role in securing the energy infrastructure is more than ever. This paper will discuss the prevalent risks and threats of each energy subsectors and the overall risks or threats that the Energy Sector currently faces. Also, this paper will also discuss the private sector’s roles and responsibilities in enhancing its
There is a great understandable hunger for energy in the world. Increases uses of energy are strongly correlated with the gross domestic product
With American population expected to increase by approximately fifty percent over the next fifty years, some sort of energy reform is needed (Lehrman 2). The most commonly proposed idea is for America to stop relying so heavily on fossil fuels, and to turn its focus onto renewable sources of energy, such as solar power and hydroelectricity (Energy Information Administration). If the United States could realize the benefits of renewable energy, then much of the world’s energy problems could be solved.
A new plan always comes at a cost. The most significant one is the shock to the old energy industries and the budget to support new industries. Prosper of new energy industries will decrease the profit of old industries. However,
Energy is one of the main drivers of economic and social development. Years ago, the only uncertainty was the price of oil. Now the concern is if the current economic model growth is reasonable in a world with limited energy resources. This has lead to more research in other forms of resources of energy. Now we have other unconventional resources such as wind, solar, geothermal, water, and so on. Energy demand is set to double by 2050 (Beckman, 2013). Therefore, greenhouse gases could double by 2050 as well. Hence, renewable energy is vital. However seen as fossil fuel is still the dominate source of energy, it makes it the current economic model growth rate somewhat unreasonable.
The main way the environment is Some may believe that renewable energy is not beneficial. In contrast, some believe that renewable energy is a key factor involved in helping the economy to grow. Many jobs are created in the manufacturing and running of renewable energy plants. The renewable energy and energy efficiency technologies created 8.5 million new jobs and $970 billion in revenue in the year 2006 (Langwith, “Renewable Energy is Economically”). The American Solar Energy Society says by 2030 it could generate up to $4.5 trillion in revenue for the U.S and create 40 million new jobs. This would represent one in every four jobs (Langwith, “Renewable Energy is Economically”). This shows how vital it is to get renewable energy companies in the U.S. It is important to build a stable economy again and do it all while helping the environment.
This paper reports on the microeconomic aspect of obtaining the energy that is present in the environment. A number of factors including the rapidly growing demand for energy to fuel economic development, the need by countries to diversify their energy production into environmentally sustainable supply sources while concurrently taking into careful consideration climate change, energy security and economic factors have all served to greatly contribute towards the current accelerated private and public investment in renewable energy. While numerous countries around the world have been able to design attractive incentive structures that aim at inducing private investment in obtaining the renewable energy that is present in the environment,
On the same note, the energy revolution spoken of above brings forth another advance in the ongoing global climate situation. The nature of the Kyoto Protocol calls for nations to increase research and eventually semi-convert their energy usage to accommodate for cleaner energy. Products such as solar power, wind power, biomass, geothermal power, and hydropower are now widely being studying to create processes that use less coal, oil, and natural gas in production. Altogether the results have