The world today faces an energy crisis. The world is dependent on certain natural resources like oil and natural gas that are quickly depleting. These resources are being imported from countries that have the ability to set higher prices due to demand (Nef 1977). Because of this, the world faces a great recession, and like Britain in the second half of the 16th century, we need to find alternative sources of energy. Britain found itself in an energy crisis and was on the brink of a recession however they were able to exploit a new means of energy and revitalize their country and situation. The purpose of this paper is to show similarities between Britain’s Energy crisis of the 16th century and our Global energy crisis of today, with the hopes to learn from Britain to solve our current global issues.…
Energy is one of the major inputs for the economic development of any country. In the case of the developing countries, the energy sector assumes a critical importance in view of the ever-increasing energy needs requiring huge investments to meet them.…
Power crisis is a perennial problem particularly among nations which are dependent on foreign countries for their energy source. Oil is an expensive commodity, but it is the life-blood of developing nations in their quest for comfort in life. The life of the business world in said countries depends on a highest degree on power run by oil. But they will have to bear the price of oil in order to maintain operation. Energy for household use is therefore given the backseat in importance due to its high cost. We need alternative source for that matter.…
In this paper we shall try to define the scope of this problem, identify the reasons…
With drying of sea water, touching of oil prices to its peak, damaging of roads and streets, disappearing of electricity in cities is clearly giving idea of present condition of Pakistan. According to revolutionary Russian leader Lenin defined socialism as, “the electrifician of the whole country and the transfer of power to the people’s representatives” (cited by Kabir, 2002). For revolutionary development of any country, it is important that the country should be electrifying. As all industries and business which help to rise economy of country depends on energy in one form or another. Since many years, the looming energy crisis in Pakistan has covered us like spider net but, in recent months it has been increased and got a massive shape that could damage the economy and autonomy of the country. According to one report in The News, “this summer, the country faced an electricity deficit of over 2,500 megawatts (MW) … it is feared that by 2010 the gap between demand and supply could reach up to 8,000 MW” (Asif, 2007). Breakdown of power supply to cities has devastating effects on economical and social aspects of country, which could reduce by some strategies and principles.…
While countries in the west move towards enlightenment, Pakistan is moving towards darkness. The country suffering at the hands of corrupt politicians and terrorism has much graver problems and one of them is load shedding. It is the 21st century and there is no electricity in Pakistan! People are crying their hearts out in front of the government to provide them with the basic necessity of electricity but the government seems to have no clue about how to solve this problem.…
There has been an enormous increase in the demand of energy in Pakistan as a result of industrial development and population growth, as compared to increase in energy production. The number of energy consumers has increased to 12.5 million: household 46 per cent, industry 28 per cent, agriculture 12 per cent, bulk supply nine per cent and commercial five per cent. For faster economic growth, Pakistan need more generation. Supply of energy is, therefore, far less than actual demand, resultantly crisis has emerged. An energy crisis can be defined as any great bottleneck (or price rise) in the supply of energy resources to an economy.…
Pakistan’s economy continues to face numerous domestic and external shocks from 2007 onwards. Economic performance was affected from the devastating floods and rains, the internal security hazards, and the energy crisis. The economy of Pakistan during the last five years grew on average at the rate of 2.9 percent per annum. Deterioration in the power sector is the main constraint on growth. It is true that the energy crisis is frustrating the…
The aim of this study is to estimate the impact of electricity crisis and interest rate on the production of Pakistan…
The economic engine and the wheels of industry, agriculture and business need energy to move forward. On the social aspect, energy consumption per capita is a key indicator of the quality of life of the citizens and community. Unfortunately in Pakistan, in spite of all claims and rhetoric by all governments, real solutions to meet the energy equirements of the nation have never been formulated or achieved. As a consequence, Pakistan’s economic, industrial and social growth has been greatly constrained. Due to an increasing gap in energy demand versus capacity.…
That’s such a shameful reality of our present power generation scenario, false promises are made in every session for no use and its now obvious to everyone that energy will never be available with such absurd advertisements about electricity trafficking and operating air conditioner at 26 degrees what an excuse they have put forward..Although they have got loads of water reservoirs which can serve as huge hydro power generating plants in the north of the country, but again it’s a sorry condition of not utilizing the nature’s reservoirs. I remember the last year’s experience of 17 hours straight breakdown of electric power in the whole Karachi vicinity. That was such an impudent condition of our recent government that shows off the 21st century Pakistan. News are full of scandalous predictions as well as real facts but with a tag of complaint only and not for its solution. New graduates in the technology whenever tries to work on it, are highly condemned by the excuse of limited resources that shows the lack of interest in Pakistan’s prosperity.…
Critics blame it all on the government for lack of planning and a vision. They say no efforts were made in the past to ensure a continuous increase in the power generation capacity of the country. Even now, when the country is faced with devastating prospects, not much is seemingly done by the government to tackle the issue. It has turned into a complete nightmare for Pakistanis. Many people have resigned to the fact that the electricity crisis is here to stay for a long period of time.…
Meanwhile, higher energy consumption has placed greater strains on the country’s energy resources. During President Bush’s visit to Pakistan earlier this year, he and the Pakistani president committed to developing alternative energy sources. Pakistan's current and future energy needs was the topic of another Asia Program conference on June 23.…
The people of Karachi know it very well that Karachi has become a city of problems. All these problems go together to make the life of Karachi ties very difficult. Perhaps the most serious of these is what we may call energy crisis there have been an acute shortage of electricity in our city during the last ten years.…