...Sherrah Adderley Ms. Marjorie Downie Eng 300 October 16, 2012 Should the government invest in solar energy? The impact of high crude prices on the economy has always been negative, resulting in high energy cost. Many Bahamians continue to struggle to keep their lights on due to the constant increases in surcharge on electric bills by The Bahamas electricity Corporation (BEC) .To reduce this energy load, the government should invest in renewable energy such as solar energy. Solar power is one way we can explore renewable energy. Maybe Bahamians are reluctant to explore renewable energy because of perceived difficulty or cost. The government should invest in solar power because; it reduces cost, environmental safe and may create jobs.(smith) Solar energy reduces cost. Since solar energy is hundred percent free it means that it can reduce the energy loads such as lowering electricity bills by the use of solar panels, solar lights and other solar products. Solar panel is cost effective as it requires no maintenance. (Van) Once installed, there are no recurring costs involved and money can be saved in the long run. Solar lights are easy to install. This is because there are a few wiring issues and little need to ever dig supporting trenches. Many Bahamians argue that it is misleading to say that solar energy is free However, the price of solar energy is found in the expense of the technology and other factors involved in extracting it and transforming it into...
Words: 1175 - Pages: 5
...How realistic is it for the UK government to think nuclear power has a role to play in plugging the energy gap? Introduction In recent years there has been much debate about the energy gap in the UK. According to Black (2005) the “energy gap” is the shortfall of fossil oil, natural gas and other fossil fuels, and this phenomenon is due to there is an increase trend for the need of fuels in Britain. However, we must face the phenomenon that fossil fuels will run out in the near future. Due to this energy gap, we need to look for alternative sources of energy, and the UK government wants to reduce greenhouse gas emissions, so they believe that nuclear power can close the energy gap. However, critics have pointed out the dangers of using nuclear power. This report will examine how realistic the UK government is being in believing that nuclear power can successfully close the energy gap. It will begin with a literature review highlighting the main advantages and disadvantages of using nuclear power. Next the key issues will be analysed and discuss. Finally, a conclusion will be drawn. Literature Review One of the main arguments in favour of using nuclear power to close the UK energy gap is that are 70 per cent of our low-carbon electricity comes from nuclear energy in UK. (Nuclear Industry Association, 2012) In addition, the Nuclear Industry Association (2012) have showed the nuclear stations reduce 7% to 14% of greenhouse gas emissions in the UK, and...
Words: 913 - Pages: 4
...Assess the relative importance of named players in the global supply of energy. (15 marks) Energy supply is the delivery of fuels or transformed fuels to point of consumption. It potentially encompasses the extraction, transmission, generation, distribution and storage of fuels. There are a number of players involved in global energy supply including TNCs (Transnational Corporations), organisations such as OPEC (Organisation of Petroleum Exporting Countries), governments and consumers. All of these players are stakeholders in the energy market and have varying degrees of importance and influence. Energy resources are not evenly distributed across the globe, certain factors such as geographic location/relief of the land, economic ability for extraction, technology available and demand for said resource. The Middle East and Africa are the richest regions in Oil, the Middle East, Europe and Eurasia are richest in gas, and North America, Pacific, Europe and Eurasia are richest in coal. OPEC, the organisation of Petroleum Exporting Countries, is a very important player which controls the price and supply globally. It controls 3rd of the world's oil reserves, making it a very powerful player. It is a powerful cartel which has a lot of influence over global energy markets. It aims to regulate oil prices and make the price of oil more stable. However, it is accused of holding back oil in order to increase the price of oil. Dramatic rises in the price of oil from 2002 onwards were...
Words: 947 - Pages: 4
...Energy Portfolio management (Like Financial Portfolio management) is the Key to solving today’s and the future’s energy issues….. by Doug Story I believe it has been determined and accepted by almost everyone in the financial management industry and by those of us that invest or have our jobs supply financial instruments such as IRAs, Roth IRAs, 401Ks, etc for our retirement that it is imperative that our financial portfolio be diversified in such a manner that when part of the portfolio drops in value other parts of the portfolio will climb so that we may maintain, protect and continue to grow our funds in preparation for retirement. For example, why was the ENRON collapse such a disaster to most of the employees at ENRON? ENRON management had put pressure on everyone in the company retirement program to put all of their retirement savings into ENRON stock, so when the stock collapsed from its record highs these employees lost everything. If many of the employees at ENRON had invested in a diversified portfolio most of the money they placed in their retirement accounts may have been protected from the collapse of the ENRON stock. What does “Diversified Retirement or Stock Portfolio” mean? Simply put it means having a retirement account that is spread out over a range of stocks, bonds, cash and even precious metals. If the stock market goes down, in theory the bonds and precious metals will stabilize or go up at a rate that equals or reduces the losses due to the stock...
Words: 1663 - Pages: 7
...Overview of Sustainable Industry in Malaysia. The 2014 was a huge success to government which a total 396.61MW of renewable energy approved by the Sustainability Energy Development Authority and its represent a total 466% year-on-year growth. The increase of the renewable energy represent years of planning and execution by relevant authorities to regulate and draft policies that suits Malaysian environment. As sustainable industry and climate change are interrelated, often the regulation and policies are overlapped. The Malaysian governement acknowledge the importance of government’s role in reducing climate change, therefore the history of Malaysian government in regulating the policies can be traced back as far as 1992. Below are summary of the Malaysian government sustainavle development agenda: In 2009, Malaysian parliament had passed the National Renewable Energy policy and Action Plan (2009) with the vision to enhance the utilization of indigenous renewable energy (RE) resources to contribute towards national electricity supply security and sustainable socioeconomic development. The objectives of the policies are: To increase RE contribution in the national power generation mix; To facilitate the growth of the RE industry; To ensure reasonable RE generation costs; To conserve the environment for future generations; and To enhance awareness on the role and importance of RE. The National Green Technology Policy which was introduced in 2009 has 2 Strategic...
Words: 643 - Pages: 3
...“In one generation we went from riding camels to driving Cadillacs. The way we are spending money today, I fear we will soon be riding camels again.” King Faisal (1904-1975) Introduction Energy, especially crude oil is one of the most valuable commodities in today’s international trade, an indispensable source primarily for transportation and industrial production. This makes oil prices one of the most important elements of today’s economy. In that sense, the Kingdom of Saudi Arabia is on the centre of world economy because of her rich reserves also because the Kingdom has the lowest production cost in the world. Saudi production capacity and the Kingdom’s political stability are key elements for the international oil prices and consequently the world economy. Saudi Arabia is essential to the international oil market also, because she is the swing producer, meaning that she has the ability to affect the price by changing the supply and the other producers’ behaviours. Saudi Arabia is given an example par excellence for the leader in an oligopolistic market by Bhattacharya as the country holds an important market share, Saudi Aramco figures state that Saudi Arabia has 260 billion of oil, which accounts near one fourth of the known reserves, also high flexibility in capacity utilization, low financing requirement thanks to the low cost and it is negligible sensitivity to the changes in the market. Rising world oil prices and Saudi Arabia's capability to quickly respond...
Words: 3930 - Pages: 16
...II. Contemporary Energy Use Frederic Menz, a professor of Economics and Finance at Clarkson University, analyzed the impact of renewable energy policies and the relative adoption of those types of energies. He notes that at one time, conventional wisdom suggested that renewable energy sources would gain primacy due to the “rising costs for fossil fuels, growing concern about environmental issues, and national security concerns with imported oil” (Menz, 2005). However, the reality has been “virtually constant” production of electricity from renewable sources, with “coal and nuclear responsible for about two-thirds of net electricity generation in the United States for the last several decades” (Menz, 2005). As regards adoption of solar photovoltaic technology, some argue that its deployment has been tailored towards “a conglomeration of regional markets and special applications” for which significant production will remain elusive until standardized practices of connecting it to existing grid technology are established (Shum & Watanabe, 2007). The stunted deployment of renewable energy technology and failure to meet expectations for growth to surpass fossil fuels, are argued to be due to conventional fuel subsidies that “actively discourage consumers from seeking cleaner alternatives, encourage the overconsumption of resources… and lead to capacity development and consumer patterns in excess of true needs” (Sovacool, 2009). With significant conventional fuel subsidies intact...
Words: 2457 - Pages: 10
...There are a number of players involved in global energy security; they are Trans-National Corporations Organisations such as OPEC, National Governments and Consumers. All of these players are stakeholders in the energy market and have varying degrees of importance and influence.Energy resources are not evenly distributed across the globe, certain factors such as geographic location/relief of the land, economic ability for extraction, technology available and demand for said resource. The Middle East and Africa are the richest regions in Oil, the Middle East, Europe and Eurasia are richest in gas, and North America, Pacific, Europe and Eurasia are richest in coal. Oil is one of the biggest and most widely used fuels for generation of secondary energy (energy produced usually by combusting fossil fuels), the Middle East, OPEC, the oil cartel, has a very key role in determining price by managing supply in its member countries – this has led to price shocks in the past, as well as periods of very low prices. It controls 2/3rds of world’s oil reserves, making it a very powerful player. This abundance of resources, such as 22% of the Earth’s oil reserves being in Saudi Arabia means that they are major players who are very much in control geopolitically as they control access to these resources and are able to dictate cost and supply. Russia is second to Saudi Arabia in terms of oil production, producing just below 12% of the world’s total oil. This is an example of a cartel (OPEC)...
Words: 908 - Pages: 4
...insight to the history and working of the solar energy industry. From personal experience, I have seen the recent increased use renewable energy, particularly wind and solar energy. Internationally, in Europe wind and solar energy as source of energy is not new revelation too me, many European countries, such as the Netherlands, my birthplace, are not new in utilizing wind and solar energies. What this case brought me to really learn was the involvement and the relationship of the U.S and China government in the solar energy industry. It came as no surprise to me that the U.S government was subsidizing the solar energy, however what came to light to me was the level of international competitiveness and political gridlock between China and the U.S in the solar energy industry. It was interesting to touch on the issue if governments should intervene in the market place. It became clear, that it was tough issue for the government to tackle, with one side of the government arguing that government intervention in the solar energy industry is hurtful and detrimental to business, highlighting the case of Solyndra bankruptcy. The other side, Obama administration, argues that the U.S needs to continue to subsidize and give tax break to solar energy companies to make them competitive in the international markets. The confusing issue, in solving this case is the involvement of international governments subsidiaries to competing solar energy companies in the market. In particular, China’s...
Words: 499 - Pages: 2
...nuclear energy sector stands at a crossroads. We have the opportunity to resume construction of new nuclear plants, revive a once-vital nuclear supply chain, explore and deploy new technologies and reclaim our place as a global leader in the production of nuclear energy. If we do, this nation will reap the benefits: abundant, emissions-free baseload electric power and process heat for industry and substantial economic growth. Additionally, the United States will reestablish its leadership in global nuclear energy and nonproliferation policy, which is directly related to the credibility and vitality of our own nuclear industry. But the rebirth of the American nuclear industry is not guaranteed. The lead times are long, and the costs of building new plants and developing new technologies are high. The various private sector firms that will ultimately decide the future of nuclear energy—through what they design, finance, purchase and build—all must consider the complex economics of such huge investments. This is made all the more difficult in the face of substantial uncertainties about broad government policies, specific regulatory actions and the price and availability of other energy sources. Indeed, the future of nuclear energy is dependent upon an interwoven set of decisions made by both the public and private sectors. On the one hand, private industry cannot act without clear, stable policies and active involvement from the government; on the...
Words: 605 - Pages: 3
...Introduction: Energy is a global matter and energy policy is at focus of some of the hardest challenges that the world encounter. National governments play the main role in energy governance, the challenges fronting policy makers are beyond the range of any sole national government to succeed, making energy policy a key component of global governance and international relations. The global energy landscape has transformed radically in recent decades. The instability of energy markets is a distinct worry for both developed countries and those countries facing rapid economic growth. II. Objectives of global energy governance: Markets necessitate governance appliances that can impose contracts, define and apply property rights, control...
Words: 1773 - Pages: 8
...that Talisman Energy Inc. is facing are the risks that they will face coming into Iraq, and dealing with the Kurdistan Regional Government. Talisman Energy Inc. will have to deal with KRG not knowing how they will act with the money that Talisman Energy Inc. will give them. Analysis The first thing that worries Talisman Energy Inc. is that they don’t know if KRG will use the money on economic development or to buy weapons. If KRG uses the money to build the economy then this will make Talisman Energy Inc. look like they helping a good cause which will help bring up the value of their stocks and make them grow. But if KRG uses the money for illegal purposes such as buy weapons. This news will make Talisman Energy Inc. look like if they support violence in the Middle East, which will bring uproar in the region. This will also make Talisman Energy Inc. look like they support Saddam Hussein and his weapons of mass destruction. If it actually came to pass that KRG was found actually spending money on weapons of mass destruction. Talisman Energy Inc. stocks would drop significantly and ruin the reputation of Talisman Energy Inc. Although Baghdad gave complete autonomy to KRG, they might still need to overrule these purchases of weapons. For other international NGO communities they will need to come in to stop KRG from continuing to purchase weapons and will ask KRG to safely destroy these weapons. This scandal would really damage the reputation of Talisman Energy Inc. Krg charges...
Words: 864 - Pages: 4
...Learning Ways to Deal with Energy Conservation Talesha Binns SCI/275 November 10th-2013 Shannon Gumtau Learning how energy conservation really works Over the past nine weeks, I have learned some wonderful things about science. Things like Different kinds of environmental issues, conservation vs. preservation and different resources plans for the environment. From all the reading and my own research, I decided to do my final project on energy conservation because this is something we are dealing with on a daily base and we need to know how to make things better not only for the environment but for ourselves as humans. My plan within this paper is to educate people on ways to conserve energy. Some atmospheric issues when dealing with energy are things like driving, heating and cooling your home, What is Energy Conservation Energy conservation is something very important and the issues we are having with it should not be taking likely. Let us define energy conservation. Energy conservation (According to “Energy Conservation" (n.d.)) “Energy conservation refers to reducing energy through using less of an energy service. Energy conservation differs from efficient energy use, which refers to using less energy for a constant service.” energy needs to be conserve so that we can protect our environment from certain changes, and to save what resources we have now for our upcoming generations. I feel that this is when our renewable sources kick...
Words: 1948 - Pages: 8
...Energy Resource Plan Andria Cogar Axia College Our utility bills have been increasing in past months that have raised many questions about the cause. Is no one in the family is turning off the lights when a room is not being occupied, doing less than a full load of laundry, and not taking shorter showers? Energy conservation is on the rise, even though few try to stick with what will make the environment better. Conserving energy can be helpful in a number of ways; whether it be to save money for a family vacation, decreasing pollutions in the air we breathe; or just stopping the amount of green house gases being emitted into our atmosphere. We are using nonrenewable energy to supply us with energy to cook, clean, and keeping us warm; without even thinking of its consequences, which in turn will not last forever. There are distinctions between nonrenewable and renewable energy that will help in the future to ensure a better way of life. Nonrenewable energy is energy that comes from the ground, and is not replaced in a short amount of time. Fossil fuels are the main source of nonrenewable energy, which includes; oil, natural gas, and coal. Steaming from plants, and animals’ decomposed remains; that have been in the soil for millions of years. Renewable energy is energy is energy that replenishes itself automatically from natural processes. Examples include; wind, sunshine, biological processes, flowing water, and geothermal heat flows are all methods of renewable energy...
Words: 676 - Pages: 3
...America’s Future with Renewable Energy Robert Keith Clark ENG122 Prof. Sabine Meyer May 5, 2013 America’s future with renewable energy Only a very small percentage of the energy from the sun reaches the earth. However, one hour of that sunshine provides enough energy to power the entire world for a year (National Geographic, n.d.). As America moves forward into the 21st century, U.S. environmental policies need to do more to encourage green renewable energy technology thus reducing dependence on foreign oil, while focusing on environmental concerns, and helping to ensure that the United States remains a world leader. Methods Initial research for this project began with a look at U.S. government statistics and websites. However, as the research continued the Ashford library became a valuable source of information. This research paper is a combination of scholarly journal articles and other reliable articles from reputable news organizations. Some of the data came from teams of scientists and other international organizations that collect and organize data about renewable energy and environmental issues. One source that was particularly useful was America’s Energy Future (2009); the book was written by the Committee on America’s Energy future, the National Academy of Sciences, the National Academy of Engineering, and the National Research Council. Even though the information contained in this research project came from reliable sources, the information...
Words: 2161 - Pages: 9
