Energy Independence for Sustainable Future by Sampath Srivatsan

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Energy Independence for Sustainable Future

Oil is one of the greatest inventions of mankind.  It was derived from fossil fuels and has powered automobiles and machines for centuries. The worldwide demand for oil has increased faster than the supplies of oil. Globalization and population increase around the planet are some of the reasons that has increased the consumption of oil to several folds. Today the condition is worsening and the developed countries cannot survive the oil shortages of the 21st century. Reports indicate that the world demand for energy will double by the year 2050.

America consumes 25% of the world’s oil today and its needs are growing voraciously.  2008 has been the year of changes in the stock markets, industries, economy, and the government. With imports growing and world prices rising, the projected cost of oil import this year will be about $440 billion (Cornell, 2008). This is at a time when the American economy is also in an extended down turn. The rising energy prices hit a historic high of $147 per barrel causing concern and potential damage to the economy. The soaring oil price caused ripple affects, changing the driving style of people, work environments, inflation, and cost to the government. The panic in the market and its effects has proven that oil is the nerve and stimulus of the economy.  Indirectly it is one of the major factors that cause the country’s economy to go up and down.

 The new government taking power should adopt new policies & plans that address the economic concerns related to the oil for today and for future.  There is no single solution to make us less dependent on oil.  However, there might be different ways to approach the energy crisis experienced today:

US Congress banned offshore oil in 1981 and approved policies to import oil from foreign countries; which prevented the leasing of coastal waters for fossil fuel development. An alternative means of powering motor vehicles would help reduce our oil dependence on foreign countries. Both candidates in the recent U.S. Presidential election promised to reduce the dependence on foreign oil. America has 3% of total oil reserves in the world. The government needs to change its stance and allow more offshore drilling to help make the US more self reliant.

Additionally, the technology used in the cars for combustion is outdated. There are few new innovations in the auto industries and the few that exist are still in the developmental stages. Today all 3 major automakers are performing badly and are expecting a financial bailout from the government to run their operations. The sales of the automobiles have slowed down as people could not afford to pay high price of oil, and the cars manufactured are inefficient and gas guzzling. The economic conditions of today and the automobile bailout scenarios should motivate the corporations and individuals to invest in new technologies which would reduce consumption and provide alternate source of energy for automobiles.

 Currently two thirds of all oil used in the United States is primarily for transportation (Briggs, 2004). The government and corporations have to be sensible in evaluating options to reduce the demand of oil. Today there are more cars on the roads causing traffic jams and over-consumption of precious oil. In stark contrast, developing countries like China, India have an excellent well developed rail transit system. Investments can be increased to improve the existing and build new rail networks in and around big cities for transportation of goods and commute for passengers. Air, Rail, and Waterways can be alternate means of commute.

All energy on the planet is derived from our sun -including oil, which is solar energy stored in fossilized carbon deposits.  There are other forms of energy in the universe that could be used to reduce the dependence on oil. Hydro, Solar, Wind, nuclear, and clean coal technology are the energy source that needs to be given more attention by government. President-elect Obama campaigned on the promise to spend $150 billion over the next 10 years to support alternative energy, like wind and solar, as well as the green jobs that the sector has the potential to create (Walsh, 2008).  Corporations and individuals need to be compensated with tax breaks and other creative rewards to motivate them to move in this direction.

In the most recent few years corporations have shown a lot of interest in producing bio-fuel from plants such as corn, soybeans, and wheat. The government encouraged those industries by providing a tax break. It reduced the dependence on oil from foreign countries but on the other hand caused an increase in food prices leading to an imbalance to the ecosystem.

Alternatively, there was breakthrough in producing bio-fuel from algae. It can be grown in saltwater or freshwater ponds. Algae can produce 10,000 gallons of bio-fuel per acre. Rather than destabilizing the food prices the government should encourage the biotechnology companies to spur Research and development by rewarding them with subsidies. Fuel from algae is a better alternative then ethanol.

The focus of the new government should be on renewable energy, which invests in the American people and also creates jobs .Improving vehicle efficiency and stringent government standards for automobiles will be helpful in reducing energy consumption and greenhouse gas emissions. The suggestions above are focused to corporations and government. However, everyone in the nation needs to develop conservation measures to control oil consumption and consider lifestyle changes to combat high energy prices.