Economic Growth and the Population Dynamics

Question: Discuss about the Economic Growth and the Population Dynamics? Answer: Introduction: The global energy demand is dependent upon the economic growth and the population dynamics of the countries. It has also been identified that the global energy depends on the supplies of the fossil fuels. However, these energies are distributed across all global regions. Presently, the industrialised countries are increasing higher demand of utilising the primary energy. On the other hand, the climate change, energy insecurity and the pollution have become the major issues in managing the global energy infrastructure. Starting from the information technology and manufacturing industry, the energy consumption form the carbon fuels are increasing rapidly and the current projection indicates almost 80% increment in the energy utilisation form coal resources. However, the falling price of oil is also encouraging us to use the highest level of petroleum energy. Thus, a dilemma is occurring in the context of how to save the natural energy in the future. Considering all these aspects, the e ssay attempts to describe a clear view on the global supply and demand perspectives and which future actions are needed to be considered. A critical analysis has been made whether the legislation could address all these issues or not. Main body: The current energy demand scenario predicts that the supplies of the fossil fuels are required to achieve global energy demand. It is dependent upon production from the available reserves of coal, gas, oil which has not been placed in a distributive manner. In the words of Abbasinejad et al. (2012), the amount of the energy supply made to the global area is not proportional with the regional reserves placed for different energy types. It is significantly driven by the major socio-economic condition. The global climate change, also impacting on the supply of the fossil fuels across varied global regions. Aleklett et al. (2010) identified that the fossil fuel almost accounts for 81% primary energy supply across the globe and supposed to account for almost 8% of the fuel at the end of 2030. The report, published by the International Energy Agency (IEA) also indicated that oils share as the global primary energy supply is higher than any other natural energy resources. Although the oil price has greatly altered, oil will account for more than 30% of the global fuel supply till 2030 (refer to appendix, exhibit 1). However, the IEA statistics in the year 2009 stated that the shift in the extreme energy utilisation has been found higher in developing economies, due to which the demand is increasing rapidly. Due to the rapid industrialisation, population and the economic growth, the developing countries account for increasing the energy supply demand. The World Bank and the IEA show that primary energy demand will be increased by 90% by 2030 (www.econjournals.com, 2016). Dubash Florini (2011) also identified that the non-OECD energy demand will be increase by 73% as compared with the OECD countries, which has projected only 15% consumption amount. The significant fluctuation among the global nations is predicting higher utilisation of the energy resources and the amount will increase in the future also (refer to appendix, exhibit 2). Thus, civil cooperation will also be needed and energy saving awareness campaigns could be an effective agenda to improve the future energy supply scenario. Considering the fact, Crane et al. (2010) stated that China and India are the major consumers of utilising the greater amount of natural energies. The geography of the new energy demand growth could exe cute severe implications on the energy trading and a new financial flow pattern between the creator and users can also be arrived. Thus, understanding the global energy consumption has become a critical approach today, as it is going to impact extremely on the economic globalisation, climate change and the economic security as well (refer to appendix, exhibit 3). A large scale plan has been made to power the globe without any application of biofuels, nuclear power, or coal. The need for renewable energy is coming into the scenario to address the global energy demand by the year 2030. However, Anderson (2009) argued that almost 11% of the worlds electricity comes from the nuclear suppliers. More than 436 commercial nuclear reactors are operating across 30 countries as a source of power generation unit. Not only this, the nuclear energy presently supplies almost 20% of the UKs electricity (web.stanford.edu. 2016). However, due to the shutdown of the old plants, the degree of electricity generation has been reduced to 19%, which was more than 25% in the 1990s (web.stanford.edu. 2016). This scenario creates higher confusion among the researchers whether the nuclear power can be treated as a useful source of electricity generation unit or not. On the other hand, no permanent facility has been generated to store high level waste anywhere across the world (www.green-alliance.org.uk, 2016). The UK is not alone with this situation, even France, Finlands new reactor is also found overdue and the cost billions are more than the expected scenario. Thus, after few years of negotiation, the UK government has finally convinced EDF to invest in the nuclear energy. However, this scenario could not be the solution of other countries as well. Thus, several debates between the renewable, nuclear power and the carbon based energy production are facing large oppositions for varied reasons. Setting the priorities for energy generation will be prioritised to save the global population from the energy scarcity. Thus, it is high time to avoid options which require further development to produce optimum energy. Andresen et al. (2009) mentioned that a technology which creates zero greenhouse gas emission needs to be exploited to create sustainable energy conservation. Along with this low impact on wildlife, water and land pollution, are generation of air pollutants per unit also need to be calculated before utilising the renewable or recyclable energy. The waves, tidal, hydroelectric power needs to be utilised as a source of energy generation unit. Furthermore, the corn ethanol, nuclear reactors, etc. has been identified worse as compared to the other WWS options in terms of safeguarding the environmental impacts. Ethanol is considered as the most climate friendly sources and the same has been found to cause air pollution mortality as same as gasoline. Additionally, the use of carbon capture and the sequestration (CCS) could reduce the carbon dioxide emissions generating from the coal power plants by 90% more (www.niauk.org, 2016). On the contrary, it will increase the CO2 emission and create ecological pollution in a rapid way. Henriques et al. (2009) also mentioned that nuclear energy could have been considered as long term strategic energy resource. However, Lenzen (2008) contradicted the fact and stated that nuclear energy has put the world in a higher terrorism risk and the weapon development capacity has been enhanced as well. Considering the future demand of energy consumption, if the world attempts to convert electrolytic hydrocarbon by 2030, almost 11.5 TW power demand will result. Satisfying this power demand is complex and it would require 15,800 850 MW nuclear power plants across the globe (Tucker, 2014). The second most vital issue is that the nuclear energy results almost 10-25 times greater carbon emission from the uranium compared to the wind energy (Ramana, 2009). The overall installation and the operational tenure for the nuclear power plants have been found 11-20 years, while the solar or wind installations take only 2-5 years for delivering power energy. Thus, it is high time to use wind, solar, wave, geothermal, hydroelectric, tidal, and CSP to deliver electricity across the globe without generating higher environmental pollution. Similar sort of discussions were held in Paris Summit in the year 2015, where 196 countries participated. The outcome of the summit indicated new hope to bring mass benefits to the natural environment through avoiding the degradation of the ecosystem and the biodiversity loss. The role of public finance has come into the scenario to redirect the private capital towards low carbon investments. The UN convention has prioritised, not only the climate c hanges, but also to the active participation of the global population to safe the excessive utilisation of the global energy (Rothkopf , 2007).The Climate change act 2008 was first imposed in the UK, for setting statutory targets to reduce the carbon emission. Gradually, according to the climate change act 2008, Mexico has adopted General Law on the Climate Change, Nigeria also applied National Climate Change and Response Strategy, followed by China, who will also shortly consult on the similar set of laws (www.econjournals.com, 2016). Around 88% of the global emissions are represented by 66 countries and all have introduced separate Climate legislations across the nation. The present energy scarcity indicates that it is high time for the global inhabitants to come up with lesser consumption of the energy and try to avoid unnecessary utilisation of electricity of oil energy. There is no time to wait for a long time when the oil price will rise and the global warming will drive the actions. Instead, proper knowledge, following environmental pollution act and nominal usage of the natural resources are needed to be maintained, so that the future world can feel the benefit of saving energy. The international agreement based upon the Paris Summit can be helpful in managing the energy availability as it allows the countries to push ahead with the strategies of low carbon emissions. It also provides a framework for low carbon economy and especially law has been enforced to the developing economies to adopt low carbon emission strategies to protect the natural environment. Thus, extreme cooperation of the general public needs to attain a prosperous future. Part 2: For the manufacturing or commercial company, energy saving option has become a major CSR agenda which is done by cheap electricity usage of costs. The lighting, heating cooling, hot water, refrigeration and business requirement needs to be technologically advanced to consume lesser electrical power. For instance, the air conditioner manufacturing companies like Samsung, Godrej, etc. have started making split AC to reduce the maximum capacity of the AC. It provides higher energy savings than the normal mode. The five star rating of Samsung provides optimum energy saving options to the global users. On the other hand, Wadia et al. (2009) mentioned that the global manufacturers, who have not initiated energy saving options, are extremely needed to control energy conservation by advancing the technology. The energy saving option can be started with the following steps: Metering the energy consumption and data collection Identify the scopes to save energy in terms of food processing or manufacturing of the products. Replacing the present equipment with low energy consumption instruments. Finally, tracking your progress by identifying your power meter to check how much the energy saving options has worked. Additionally, Lenzen (2008) mentioned that global warming and the increased energy demand has enforced legal actions to establish long tern energy consumption program. Formal documentations such as energy saving outlook need to be published on the corporate sustainability report. First of all, an agreement needs to be made with the energy sources such as suppliers and the power stations so that renewable energy can be used to meet the global demand. On the other hand, other techniques and the approval need to be taken from the end of the higher management (Tucker, 2014).This scenario becomes more crucial in the aviation industry, as it consumes more power. The resource establishment, data collection and the overall demonstration process needs to be managed as per the environmental law published by the local governments. Thus, companys agreement with the government needs to be briefed within the energy conservation proposal. Finally, a formal documentation process needs to be carried to make the stakeholders aware regarding the energy saving proposed solutions. This could bring higher authentic and mutual readiness within the modern day organisations. Conclusion: The energy consumption process has shown optimum dynamism recently, as the economic growth and the global population are getting fluctuated rapidly. However, to manage the future sustainability, the energy production pattern is also changing with the advancement of the technology. As the oil only offers 30% of the total energy, meeting the demand for the social and economic activities might not be feasible. The overestimations of some areas have generated greater anxiety among the global countries. Thus, the cartograms need to be employed by the nations to improve the energy visualisation effect. 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