Socioeconomic Impacts on Non-renewable Energy

7/30/2019 Socioeconomic Impacts on Non-renewable Energy

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SOCIOECONOMIC IMPACTS ONNON-RENEWABLE ENERGY

ENERGY SYSTEM

BIL NAME MATRIX ID1 AMARANATH S/O THANGARAJU 15DKA10F11412 NUR ZAWAWI B. ZULKIFLEE 15DKA10F11323 MOHD RIDZUAN B. ROSDI 15DKA10F11294 AIDIL AZRUL IZZAT B. ZULHAIDI 15DKA10F11385 SASIKUMAR S/O MANYVELAU 15DKA10F11986 MUHD REDHZA B. MOHAMED KHALIB 15DKA10F11277 RAVINDRA KUMAR S/O CHANDRA

SEGARAN 15DKA10F1144


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THE EFFECT OF NON

RENEWABLE ENERGY TOECONOMY GROWING


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WHAT IS MEANT BY ECONOMYGROWTH?

Economic growth is the increase in the amountof the goods and services produced by an

economy over time

theory of economic growth pays little or no

attention to the role of energy or other naturalresources in promoting or enabling economic

growth

Growth is usually calculated in realterms,

As an area of study, economic growth is

generally distinguished from development

economics.


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key factors

These key factors are of economic growth substitution between energy and other inputs

within an existing technology

technological change

shifts in the composition of the energy input shifts in the composition of economic output.


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What is Social Economy?

Can be defined as that part of the economy which is neither private

nor public, but consists of constitutedorganisations, with voluntary members andboards of directors or management committees,undertaking activities for local benefit.


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Economies may beconsidered to have three

sectors: The business private sector, which is privately

owned and profit motivated;

The public sector, which is owned by the state;

The social economy, that embraces a widerange of community, voluntary and not-for-profit

activities.


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FACTORS AFFECTING THEECONOMY GROWTH TOWARDS

THE USE OF ENERGY

Supply and DemandBecause unsustainable energy reserves are limited, they

will become more and more expensive as they are used.

Consider the state of gas prices today, and imagine how

these prices will continue to rise as oil becomes rare and

gasoline is no longer an easily accessible resource. T

he technologies we use to make our lives easier will berendered completely useless if the fuel used to power

them ceases to exist, and yet someday this is exactly

what will happen.

If alternatives are not sought out and perfected, such a

shortage could result in chaos.


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Cont.

Running OutEventually,all non renewable energy resources will be

depleted; the name itself admits this inevitability.

When this happens, all technologies still running on these

fuels will become obsolete, and many people may suffer

in their absence. We must turn to other forms of energyproduction: wind, solar, and geothermal power sources,

which can be used indefinitely.

With these alternatives, the process of technology

conversion should begin sooner rather than later. It would

be better to stop needing fossil fuels before they have

completely disappeared.


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Non-renewable resources are energy sources that we use andconsume faster then nature produces them. Fossil fuels such as coal

and natural gas, take centuries to form naturally, and crude oil takes

millions of years to form. These resources are not infinite and over time,

most experts believe they will cease to exist. Here are some scary facts

regarding non-renewable energy according to The Ecologistbased oncurrent worldwide consumption rates :

The natural gas supply will run out within the next 35 years.

Within 70 years the world's current oil reserves will be gone - If thecurrent rate of consumption continues for oil, the supply ispredicted to run out within the next 14 years.

Not only is the scarcity of these resources a global problem, the

resulting pollution of using fossil fuels is as well.


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Not Just Fossil Fuels When most of us think about non-renewable resources, the first

thing we think about is fossil fuels. Though these fossil fuel energysources are the most widely publicized, there are other resourcesthat are slowly running out such as:

Aluminum

Copper Silver

Gold

Diamonds

Once people mine these materials, they cannot be replaced at a

sustainable rate.


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Socioeconomic Aspects

On a long term basis, may be as important as environmentalaspects

Lack of stable and reliable energy source can cause major

social and economic disruptions and even lead to wars.

Japan used concerns about oil supplies as an excuse to

attack US in WWII.

Fuels used as weapon (1970s oil embargo,Russia closes

Ukraine pipeline).

Current economic downturn directly tied to high energy prices.


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A growing world population meets thechallenge of limited natural resources. Howabout the future?

Socioeconomic Impacts on Non-renewable Energy

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