Energy Crisis
INTRODUCTION
Energy is the basic necessity for life. But for energy no form of life would have ever emerged. We all know energy for providing us light and comfort. It can help us to cool down during summers and feel warm during winters. It also helps us to go from one place to another. All automobiles need energy to run; but even otherwise all other means of transport need energy. But even though we use it every moment of our life and learn about it at school it often remains a riddle for many all through the life.
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, particularly those that supply national electricity grids or serve as fuel for vehicles. There has been an enormous increase in the global demand for energy in recent years as a result of industrial development and population growth. Supply of energy is, therefore, far less than the actual demand.
CAUSES OF ENERGY CRISIS
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
Energy is the basic necessity for life. But for energy no form of life would have ever emerged. We all know energy for providing us light and comfort. It can help us to cool down during summers and feel warm during winters. It also helps us to go from one place to another. All automobiles need energy to run; but even otherwise all other means of transport need energy. But even though we use it every moment of our life and learn about it at school it often remains a riddle for many all through the life.
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, particularly those that supply national electricity grids or serve as fuel for vehicles. There has been an enormous increase in the global demand for energy in recent years as a result of industrial development and population growth. Supply of energy is, therefore, far less than the actual demand.
CAUSES OF ENERGY CRISIS
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