World Energy Crisis

                                      An energy crisis is any great bottleneck (or price rise) in the supply of energy resources to an economy. It usually refers to the shortage of oil and additionally to electricity or other natural resources. An energy crisis may be referred to as an oil crisis, petroleum crisis, energy shortage, electricity shortage or electricity 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, ageing infrastructure, choke point disruption or bottlenecks at oil refineries and port facilities that restrict fuel supply. An emergency may emerge during unusually cold winters.
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.



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An electricity shortage is felt most by those who depend on electricity for their heating, cooking and water supply. In these circumstances a sustained energy crisis may become a humanitarian crisis.
If an energy shortage is prolonged a crisis management phase is enforced by authorities. Energy audits may be conducted to monitor usage. Various curfews with the intention of increasing energy conservation may be initiated to reduce consumption. To conserve power during the Central Asia energy crisis, authorities in Tajikistan ordered bars and cafes to operate by candlelight.[8] Warnings issued that peak demand power supply might not be sustained.
In the worst kind of energy crisis energy rationing and fuel rationing may be incurred. Panic buying may beset outlets as awareness of shortages spread. Facilities close down to save on heating oil; and factories cut production and lay off workers. The risk of stagflation increases.

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In response to the petroleum crisis, the principles of green energy and sustainable living movements gain popularity. This has led to increasing interest in alternate power/fuel research such as fuel cell technology, liquid nitrogen economy, hydrogen fuel, biomethanol, biodiesel, Karrick process, solar energy, geothermal energy, tidal energy, wave power, and wind energy, and fusion power. To date, only hydroelectricity and nuclear power have been significant alternatives to fossil fuel.
Hydrogen gas is currently produced at a net energy loss from natural gas, which is also experiencing declining production in North America and elsewhere. When not produced from natural gas, hydrogen still needs another source of energy to create it, also at a loss during the process. This has led to hydrogen being regarded as a 'carrier' of energy, like electricity, rather than a 'source'. The unproven dehydrogenating process has also been suggested for the use water as an energy source.
Efficiency mechanisms such as Negawatt power can encourage significantly more effective use of current generating capacity. It is a term used to describe the trading of increased efficiency, using consumption efficiency to increase available market supply rather than by increasing plant generation capacity. As such, it is a demand-side as opposed to a supply-side measure.

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The majority of renewable energy technologies are directly or indirectly powered by the sun. The Earth-Atmosphere system is in equilibrium such that heat radiation into space is equal to incoming solar radiation, the resulting level of energy within the Earth-Atmosphere system can roughly be described as the Earth's "climate." The hydrosphere (water) absorbs a major fraction of the incoming radiation. Most radiation is absorbed at low latitudes around the equator, but this energy is dissipated around the globe in the form of winds and ocean currents. Wave motion may play a role in the process of transferring mechanical energy between the atmosphere and the ocean through wind stress.[15] Solar energy is also responsible for the distribution of precipitation which is tapped by hydroelectric projects, and for the growth of plants used to create biofuels.
Renewable energy flows involve natural phenomena such as sunlight, wind, tides and geothermal heat, as the International Energy Agency explains:
"Renewable energy is derived from natural processes that are replenished constantly. In its various forms, it derives directly from the sun, or from heat generated deep within the earth. Included in the definition is electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and biofuels and hydrogen derived from renewable resources."[16]
Each of these sources has unique characteristics which influence how and where they are used.

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World Energy Crisis