THE FUTURE OF ENERGY
The power and the glory
Jun 19th 2008
From The Economist
http://www.economist.com/specialreports/displayStory.cfm?story_id=11565685
This article deals with the issue of how renewable energy sources will be adopted in the future. The main argument is that renewable energy sources will only start being adopted if they can compare favorably in terms of cost when compared with traditional energy sources such as coal and oil.
Of course as critical thinkers we can list out the conditions that could cause renewable energy sources to be adopted on a wider scale. Firstly we can look at the issue of supply and demand. If the supply for traditional sources falls short of demands or completely runs out (which will happen in a matter of time), the cost will increase accordingly. As the cost increases, renewable sources can start to compare favorably with traditional sources and this could lead to the adoption of these technologies.
Secondly, there is the issue of saving the earth. As global warming worsens, people could start to realize the need for renewable sources of non-pollutive energy. However what I feel is that this alone will not stop people from using pollutive non-renewable energy sources. Many individuals often chastise others for wasting energy and promoting global warming. However what many do not realize is that these individuals are often profligate users of energy themselves. This illustrates the attitude that most people have towards global warming - apathy and hypocrisy.
Therefore, I agree with what the article implies - it is all a matter of money. The world runs on energy, and if energy gets too expensive to afford people will be forced to find more economical alternatives.
Another point that the article offers for us to consider is that the adoption of renewable fuels as sources of energy will be slow because of both the scale of the energy industry and the non-disruptiveness of energy technology - if a field of wind turbines opens it will not force a neighboring coal power plant to shut down.
However I disagree with this assertion. As the article itself tells us, cost and economy are the decisive factors in whether these renewable sources of technology are adopted or not. Wouldn't people flock to renewable technology, like bees to nectar, if a sudden technological breakthrough allowed for solar power to become 3 times cheaper than that of traditionally generated power?
In fact this technological breakthrough is exactly what many capitalists and scientists are aiming for. The energy industry as the article tells us, makes up 10% of the world's economic output. Imagine if just 50% of the industry adopts a new breakthrough technology - 'rich' would not be adequate to describe the financial situation of the person or company who made the breakthrough.
Since so many people are aiming for it, and with the many brilliant minds on the planet, I am confident that a technological breakthrough leading to a widespread adoption of renewable fuel technology is not far away. Even if somehow it does not happen, the rising prices of traditional fuels will be another pushing factor. Hopefully humans will not wait until it is too late to make the jump to renewable technology.