26.+Energy,+Past,+Present+and+Future

Synopsis:
In our project we will discuss the effects of energy on our global economy. Since the discovery of coal, energy has played a major part in the global economy; we will discuss this.

1. How has the need for energy resources affected the global economy over time?
In the past, energy was important and still is today. The first big need for energy began when industrial revolutions sprang up a hundred years ago. The global economy today was mainly based on energy resources found and used in the past, and over time, the need for resources increased as new technologies spread like power plants and cars. These things used fossil fuels which eventually this “ancient” energy will run out. When it does the economy will change drastically because the major imports and exports is fossil fuel. Around the 1970’s, the oil embargo drastically affected the economy because the demand for oil wasn’t as great and there was too much supply. In the 1990”s, new energy sources like wind and solar power was being discovered and improved. The problem with energy like this is that it will not effect the economy like fossil fuels did. Throughout the 20th century, fossil fuels have been the main source of energy, and this energy still drastically affects us today.

2. What resources will the future generations use if the nonrenewable resources run out?
==In my research I have found that not one, but a combination of different renewable resources will replace the non-renewable resources if they do in fact run out. Many sources of alternative, renewable energy sources are emerging that seem to be capable to, as a whole, run the country as fossil fuels are used up. One such source is hydropower. Hydropower harnesses the energy of rushing water by channeling it through turbines that turn to generate electricity. It can be expensive to build and destroys the land that is flooded when a dam is put in.== ==Other sources of renewable energy are as follows: wind power, solar power, geothermal power, biomass power and nuclear power. Each have their strong points and their downfalls. Wind power, is a great source of energy but the initial set up is costly and the wind isn't consistent or even there in some areas of the world. Solar power, although less expensive to set up, is even less consistent since it doesn't work at night or even when it's cloudy. Goethermal power is extremely inconsistent since only some parts of the world are even close to warm enough to create the steam needed to produce electricity. Biomass is one of the better ideas; it is about burnuing left over or excess things to boil water to spin turbines to generate electricity. Of these types of energy sources, nuclear is the most dangerous but proves to be one of the most effective. Only time will tell wether or not these methods are effective as energy sources.==

3. What energy resources are emerging to help the global economy and slow down the consumption of nonrenewable resources?
The global economy is a delicate thing, and recently, it has not been doing so well. This is partly the result of rising energy cost. The demand for energy resources has gone way up, and as a result, the prices of other devices and commodities have gone up as well (transportation, gasoline, etc.). Although this may sound like a gloomy outlook, it is possible to see improvement in the present state of the economy, for gas prices have fallen some, the housing market has slightly improved, and the stock market is no longer on the border of crash. It will most likely take many years for the global economy to return to what it once was, but it is improving and this can give everybody a sense of hope.

Narrative:
Since the Industrial Revolution, the world has heavily relied on energy sources. Almost everything we use today is oil based. As scientists theorize, it may run out soon thus leving us with no alternative for power? No. There are many renewable resoureces we could use to power our planet. Things like biomass, hydro, wind, geothermal, and nuclear power. Except there is no garantee that these will fully replace the nonrenewable resources we use called fossil fuels should they run out. Currently, energy is an important part of our global economy. Since demand is up and supply is lower, the prices are rising and causing the economy to go down. Although it has turned around and we're no longer on the endge of a collapse, it will still take years to fully restore it.

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