energy crisis and its global implications

8/8/2019 Energy Crisis and Its Global Implications

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An energy crisis is any great bottleneck in the supply of energy resources to an

economyA situation marked by disruption in oilsupplies resulting in increase energyprices that threatens economic andnational security


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1973 oil crisis : the price of oilquadrupled by 1974 to US$12 per barrel

1979 oil crisis : occurred in US due toIranian revolution.oil prices increased to39.5$/barrel from$15.85.

1990 oil crisis : resulted due to 1st

gulf war.milder than previous crisis.oil prices hit arecord


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By summer 2007 the price of a barrel hadcrossed US$100.

Strikes and political instability inVenezuelaTerrorists attacks on oil and gas

installationsNatural disaster-hurricane Katrina toworsen the situation.


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Energy flows from many sources ,exists ina variety of interchangeable forms, and

drives all systemsEnergy is a key ingredient in all sectors ofmodern economies

The us economy had the energy bill of 2trillion in year 2010


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The construction of a Camry at TOYOTAconsumes 20 barrels of oil.

An average car consumes during itsconstruction 10 % of the energy usedduring its lifetime.


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In US ,approximately 10 calories of fossilfuels are required to produce every 1

calorie of foodThe construction of a desktop consumes10 times oil than its weight.

The construction of a single 32megabyte chip uses 3.5 pounds of fossilfuel.


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The effect of decrease in productioncan be devastating. Shortfall in oil supply

of 10% is enough to shatter an oildependant economy.1973-the production drop of 5% causedthe price to soar by 400%

An overall decline of 50% is expectedover the next 9 years.

A re we heading towards post industrialstone age..????


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The worldwide banking system stands onthe availability of cheap oil.

its not physics but reality that moneyequals energy.R eal costs represents the energy cost ofdoing something.R eal value represents energy cost ofbuilding something.

The scene is set for the Second GreatDepression


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H igher prices, high imports, tradedeficiency

Fewer jobs in a slowed economyR educed opportunitiesLess comfort

H eightened political turmoil


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Convert to organic agriculture and growas much of our food locally as possibleR elocalize daily living, work andcommerceVastly expand public transport

Convert to non polluting renewableenergy resourcesSeek to stabilize and then graduallyreduce world population growth rate


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Oil discoveries 40 years ago is the basisof current oil production.

The technology of oil has improvedgreatly since the major discoveries, yetlittle oil has been found in recent years.


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There is a growing gap betweendiscoveries and production..

SOON THERE WILL BEA G AP BETWEEN

P RODUCTON A ND DEMA ND.


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