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About the World Oil Crisis+ Implications |
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Oil has taken 50-350 million years to form. Today, there is an oil shortage because be have drained nearly half of the oil reserves. Today, oil production in 33 out of 48 out countries has now peaked, including Kuwait, Russia and Mexico. Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Still, the world now consumes 85 million barrels of oil per day, or 40,000 gallons per second , and demand is growing exponentially! PROBLEM: The problem over here is that we the demand for oil is high yet oil is a non-renewable resource and is rapidly being depleted. The oil left in the earth?s crust has fallen over the years. Oil takes millions of years to form and in order to get oil we will have to wait for millions of years and there is no current solution as yet.Effects of the world oil crisis ~Fuel, petrol and oil prices are shooting up. ?A barrel of crude costs some 15% more than it did at the beginning of the year. In the first three months of 2011, the oil price surged by almost 35%.? ~Due to high energy prices, several industries have shut down due to high production costs and this reduces a country?s GDP. ~?Nations start bid to secure remaining contracts, driving oil prices to record highs. ~Increase cost of living for citizens of a country forcing them into poverty. ~Increase in the cost of transport that uses fuels which means increased bus fares and cost of air tickets. ~Countries who earn majority of their GDP from oil exports , will have their whole economy crushed as they heavily depend on the oil. The solution to this is simple. We must find alternative renewable sources of energy.: - Hydrogen powered machinery -Ethanol Powered cars like in Brazil -Hybrids -Styrofoam powered cars (Development Stages) -Algae powered cars (Development Stages) These are just a few that exist. Here's a simple activity, What would you want the fuel of your future car be made from? Here's mine - Non-biodegradable garbage fueled car Statistics from |
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6 Comments
Don't worry , I , and many others are working to find a sustainable source of energy.
Posted 01-01-2013 06:04
Thanks for high lighting the world greatest issue of this century.
Thanks to Shibajyoti for his nice poem.
Posted 22-12-2012 23:51
yes! This means that we have to change our lifestyles and use renewable sources of energy because once the non-renewable are depleted, there will be several major outcomes negatively affecting people
Posted 22-12-2012 19:14
Oil, Oil,leakage of Oil
Polluting water and soil,
For formation to It took million years,
Due to it's crisis developed fears.
The time is not so far, please wait,
The oil will import from other planet,
The energy will get from sea water,
God will supply us solution better.
For your this nice report,
Already got below moral support,
From Our sister Christly Lee
Thank you Ambassador, Nalee,
Posted 21-12-2012 22:51
Oil is a fossil fuel which causes pollution .
Posted 21-12-2012 15:25
Wow this a great abstract for the Oil Peak Crisis. Good job, Naylee.
As you made a good point, Oil Peak Crisis includes important economic issue.
It deepens the economic polarization problem putting heavy burden on poor people.
Posted 21-12-2012 08:42