alternative energy

Running head : ALTERNATIVE ENERGY

Alternative Energy

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Alternative Energy

With the continuous price increase of petroleum products in the global market , the need for consumers to turn into alternative sources of energy becomes clearer to most policy makers of various countries . With many countries which economy depends much on oil , the continuous oil price hike in the global market causes major adverse effects on their economic development . Furthermore , since oil is a non-renewable resource , it would be wise to start investing to alternative sources of energy in

to secure that a specific country would have sustainable and sufficient energy supply in the next coming decades . Almost all types of industries are being adversely affected by the spiking of oil prices in the international market causing too much burden to consumers in the domestic market since it causes inflation rate , cost of electricity , transportation fares and the like to increase robustly . Due to this given negative impacts of rising petroleum prices in the global market , it is therefore clear that each and every country must start research for potential alternative sources of energy available on their locality . Aside from the protecting the economy and consumer welfare against the spiking oil prices , another benefit that can also be derived from alternative sources of energy like biofuel , solar , wind and hydro energy would be the fact that they are environmentally friendly (Cooper 2007 . With the increasing threat from global warming and environmental degradation , shifting the focus of every energy consumers to the above mentioned alternative sources of energy could minimize the adverse effects of global warming and climate change

The only downside of the utilization of the above mentioned alternative sources of energy would be the fact that most of them requires tremendous amount of money or capital in to make them functional or operational . Especially for the case of developing countries investing to technology that would produce biofuel or building solar wind or hydro energy facilities is not a wise decision for their government has , most of the time , limited budget

References

Cooper , J (2007 . Renewable Energy is the Future . Retrieved June 18 2008 , from HYPERLINK "http /greenfuelpower .blogspot .com /2007 /11 /renewable-energy-is-future_2 1 .html http /greenfuelpower .blogspot .com /2007 /11 /renewable-energy-is-future_21 .html

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