Energy Prices and the Future Climate

What is in store?

Falling oil prices, rising oil prices, and then the hope that everything will fall into place. This has been the agenda on everyone’s mind, especially the oil rentier economies. While falling oil prices have made researchers agree on the fact that there may not be any positive effect on pollution levels, carbon emission levels, and intrinsically the consumption levels, there is a wide opinion that oil-price rises may be good in reverting to the prior of employment and gross income of many allied businesses and otherwise.

The reason for such undeterred levels of consumption may be the fact that the potential for demand is improving year on year. A recent survey results of the World Bank made it clear that there is atleast a 15 percent gap in electricity consumption. Nevertheless, such consumption still has traditional sources of power/electricity. This also means that there are prospects for renewable energy usage by this potential segment.

In the same context, energy giants like Total and Shell have announced investments in renewable energy. Call it taking a safer route, or improving fortunes, these are welcome initiatives in reducing carbon emissions, and a less polluted environment for the future. Unstructured oil markets, and supply issues that still to be worked on, it is certainly a good time to think of investments in energy that has long-standing future.

 

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