Energy Crisis

Only available on StudyMode
  • Download(s) : 3112
  • Published : December 29, 2009
Open Document
Text Preview
An energy crisis is any great bottleneck) (or price rise) in the supply of energy resources to an economy. In popular literature though, it often refers to one of the energy sources used at a certain time and place. Causes

Market failure is possible when monopoly manipulation of markets occurs. A crisis can develop due to industrial actions like union organized strikes and government embargoes. The cause may be over-consumption, aging infrastructure, choke point disruption or bottlenecks at oil refineries and port facilities that restrict fuel supply. An emergency may emerge during unusually cold winters due to increased consumption of energy. Pipeline failures and other accidents may cause minor interruptions to energy supplies. A crisis could possibly emerge after infrastructure damage from severe weather. Attacks by terrorists or militia on important infrastructure are a possible problem for energy consumers, with a successful strike on a Middle East facility potentially causing global shortages. Political events, for example, when governments change due to regime change, monarchy collapse, military occupation, and coup may disrupt oil and gas production and create shortages. Historical crises

{draw:a}
1970s Energy Crisis
Cause: peaking of oil production in major industrial nations (Germany, U.S., Canada, etc.) and embargos from other producers 1973 oil crisis
Cause: an OPEC oil export embargo by many of the major Arab oil-producing states, in response to western support of Israel during the Yom Kippur War 1979 oil crisis
Cause: the Iranian revolution
1990 spike in the price of oil
Cause: the Gulf War
The 2000–2001 California electricity crisis
Cause: failed deregulation, and business corruption. The UK fuel protest of 2000 - Cause: Raise in the price of crude oil combined with already relatively high taxation on road fuel in the UK. North American natural gas crisis

Argentine energy crisis) of 2004
North Korea has had energy shortages for many years. Zimbabwe has experienced a shortage of energy supplies for many years due to financial mismanagement. Political riots occurring during the 2007 Burmese anti-government protests were sparked by rising energy prices. [edit] Emerging shortages

{draw:a}
{draw:a}
Kuwait's Al Burqan Oil Field, the world's second largest oil field, will be depleted within 40 years.[1] Crises that exist as of 2008 include:
Oil price increases since 2003
Caused by continued global increases in petroleum demand coupled with production stagnation, the falling value of the U.S. dollar, and a myriad of other secondary causes. 2008 Central Asia energy crisis, caused by abnormally cold temperatures and low water levels in an area dependent on hydroelectric power. Despite having significant hydrocarbon reserves, in February 2008 the President of Pakistan announced plans to tackle energy shortages that were reaching crisis stage.[2] At the same time the South African President was appeasing fears of a prolonged electricity crisis in South Africa. [3] South African electrical crisis. The South African crisis, which may last to 2012, lead to large price rises for platinum in February 2008[4] and reduced gold production. China experienced severe energy shortages towards the end of 2005 and again in early 2008. During the latter crisis they suffered severe damage to power networks along with diesel and coal shortages.[5] Supplies of electricity in Guangdong province, the manufacturing hub of China, are predicted to fall short by an estimated 10 GW.[6] It has been predicted that in the coming years after 2009 that the United Kingdom will suffer an energy crisis due to its commitments to reduce coal fired power stations, its politician's unwillingness to...
tracking img