Global Energy Consumption and the Forecasted - Essay Example

Outline Introduction Current Global energy consumption The global forecasted consumption by fuel category for 2050 New sources for energy and fuel Conclusion Reference: Introduction Global energy consumption refers to the energy used worldwide. Energy falls in four categories including commercial, industrial, transportation, and residential sectors of an economy (intermediate energy info book p1). Heating, cooling, lighting, and manufacturing all consume energy in different ways. Moreover, there are different sources of energy used globally including coal, natural gas, petroleum, nuclear, hydropower, and non-hydropower renewable (U.S department of energy p9). Nevertheless, energy consumption varies among countries, with some countries such as the United States leading in energy consumption, while others follow. This essay will discuss the current global energy consumption, the forecasted consumption by fuel for 2050, and the new sources for energy and fuel. The current global energy Energy is important to the world, as human beings require energy at home, work, and church or in school. According to Open EI (Para 1), in the United States alone, buildings consume up to three quarters of electricity in the country; and as a result, huge amount of energy is consumed on daily basis. Generally, energy consumption of a country is determined by its population, such that, the higher the population, the higher the energy consumption. According to Independent Analysis & Statistics (Para 1), the world energy consumption is expected to grow by 53% by 2035. Despite the above estimates by the independent statistics and analysis, the world suffered recession between 2008 and 2009, and has thereafter experienced slow growth, while the levels of unemployment continue to grow. The increase in oil prices in 2010 created uncertainty in the energy sector. In addition, the earthquake and Tsunami that hit Japan affected the source of nuclear power; all these factors have led to an increase in the global consumption of energy from fuel. Therefore, fossil fuels are being relied on in the supply of energy used globally, while liquid fuels are the largest source of energy globally. According to independent analysis & statistics, the energy consumption is expected to fall from 34% 2008 to 29 percent in 2035. (Independent statistics & analysis). According to BP statistical review (p2), the world’s energy consumption in 2010 grew by 5.6%, as China energy consumption grew by 11%, hence exceeding that of the United States. The world’s natural gas grew by 7.4 %, and global coal consumption rose by 7.6%, Hydroelectric grew by 5.3% while biofuels increased by 13.8% (BP statistical review, p5). The below diagram illustrates global energy consumption 2010. Fig 3: world’s consumption (BP statistical review p42). This dramatic increase in energy consumption published last year is alarming; according to the economist (Para 2), the recent increase in energy consumption can only be compared to 1973 when there was a similar increase. For instance, China only consumed 11% of energy in 2009, while in 2010 the energy consumption increased to 20%, and as a result, emerging as the highest consumer. Shift in production in some economies decreases energy efficiency, but also increases carbon emissions from energy use (The Economist, Para 6). Needless to say, it is vital for the world to regulate energy consumption; the production and consumption of energy affects the climate of a country. For instance, high temperatures reduce the consumption of energy, however, they increase the energy used for cooling buildings through air conditioning (united stated environmental protection agency, Para 4). Due to the energy consumption changes, it is vital to adjust energy supply in order to balance demand. Human being reliance on energy sources has increased over the years; however, the effect of energy use on the environment is ignored. Carbon dioxide emissions are released in the air as a result of burning coal and fossil fuels, which are sources of energy; therefore, there is a great need to shift to new sources of energy. The global forecasted consumption by fuel category for 2050 Fuels are among the sources of energy; petroleum is among the liquid fuels, which is estimated to grow from 86% in 2008 million barrels daily to 98% million barrels daily in 2020; in addition, 112.2 million barrels are expected to be produced daily by 2035 (independent statistics & analysis). Fuel is globally used especially for transportation and industrial practices, whereby, 82% of liquid fuel is expected to be used by 2035 through transportation. The competitive fuel prices are some of the determinants of fuel consumption by 2050. Below is a figure that indicates the estimated growth in consumption by 2035. (Independent statistics & data analysis) However, the global energy consumption is expected to change by 2050 due to various constraints facing the energy resources. HSBC Bank (p2) argues that, domestic energy production per population will be a concern by 2050; fuel is mostly used by the transportation and industrial sector. Therefore, by 2050, it is likely for the number of vehicles to increase compared to today, therefore increasing the demand for fuel, since the transportation industry relies of fuel. Fig 5: Energy in 2050; demand in car increases (HSBC bank p10) In addition, the increase in fuel demand may contribute to rise in prices, and as a result, consumers will opt for smaller engine sizes due to the high prices of oil, and a shift to public transportation (HSBC bank p25). Nevertheless, the high fuel prices will also yield to the rise of electric vehicles, which are environmentally friendly. Needless to say, fossil fuels and coal have harmful effects on the environment despite producing fuel for vehicles, and as a result, alternative energy solutions, which do not impact negatively on the environment may be in place by 2050 (HSBC bank p29). In addition, biofuels may also be considered to power vehicles by 2050. In conclusion, the era of cheap fuel ended and it is not expected to change in the future. New sources for energy and fuel The world releases huge amounts of carbon emission in the atmosphere while producing energy daily; as a result, global warming is likely to occur whose effects are disastrous to the universe. Therefore, there is need for alternative energy sources. Royal Dutch Shell and British Petroleum are among the largest oil companies in the world, which emphasized that by 2050 a third of the world energy will be derived from solar and wind among other renewable resources (alternative energy news). Alternative energy differs from energy sources that have negative effects on the environment, such as fossil fuels. The alternative energy sources will have low carbon emissions, such as wind energy, solar energy, geothermal energy, and biomass energy source. Solar power is environmentally friendly with the potential of driving carbon emission out of the atmosphere; as a result, pollution, acid rain, and smog will diminish. Wind power is a promising source of energy and affordable today; it is pollution–free, however, it is a diffuse source, since many wind generators are required to produce enough electricity. According to renewable energy world (para1), fuel cells are an emerging technology that will combine hydrogen and oxygen to produce water, heat, and electricity; the fuel cell can only produce electricity if hydrogen does not lose its charge. Conclusion Energy production and consumption is a norm today, and as a result, human beings have a high level of reliance on energy without knowing the impact it has on the environment. There are several sources of energy, fossil fuel being among them; however, this source emits huge amount of carbon dioxide into the air, which fosters global warming. Therefore, clean energy should be the main emphasis today; this includes wind and solar energy among others. As a result, the future of energy production will be environmentally friendly, and harmful energy production practices will be curbed. Nevertheless, we should be in a position to foster new innovations with an aim of increasing energy efficiency and conservation globally. Works Cited Alternative energy news. Alternative energy solutions for the 21st century. 2011. 24 January. 2012. http://www.altenergy.org/ BP statistical review of world energy, June 2011. 24 January. 2012. http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/reports_and_publications/statistical_energy_review_2011/STAGING/local_assets/pdf/statistical_review_of_world_energy_full_report_2011.pdf. HSBC bank. Global economics & climate change. Energy in 2050. 2011. 24 January. 2012. http://www.research.hsbc.com/midas/Res/RDV?p=pdf&key=TB0uEyzId3&n=293253.PDF. Intermediate energy info book. Energy consumption. Efficiency conservation. 2011. 24 January. 2012. http://www.need.org/needpdf/infobook_activities/IntInfo/ConsI.pdf. Independent statistics & analysis. U.S energy information administration. International energy outlook. 2011. 24 January. 2012. http://www.eia.gov/forecasts/ieo/more_highlights.cfm#world. Open EI. Building energy technologies. 2011. 24 January. 2012. http://en.openei.org/wiki/Gateway:Buildings. Renewable energy world. Hydrogen energy. 2012. 24 January. 2012. http://www.renewableenergyworld.com/rea/tech/hydrogen The economist. The world gets back to burning. Energy statistics. 2011. 24 January. 2012. http://www.economist.com/blogs/schumpeter/2011/06/energy-statistics. United States environmental protection agency. Energy production and use. 2011. 24 January. 2012. http://www.epa.gov/climatechange/effects/energy.html U.S department of energy. Energy efficiency & renewable energy data book. 2010. 24 January. 2012. http://www.nrel.gov/analysis/pdfs/51680.pdf Read More