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energy shortage - Coggle Diagram

- - - - Unlike fossil fuels, some energy sources are totally renewable, and do not emit greenhouse gases. These clean and sustainable alternative energy solutions include solar energy, hydropower, wind energy, geothermal energy and biomass energy.
    - - In order to prevent an energy crisis, it is also crucial that we consume less energy by improving and modernising energy infrastructure such as smart grid solutions, and smart cities. It is also important that we replace old devices by energy efficient solutions, such as replacing traditional light bulbs by LEDs.
- - - - National Balancing Point NBP (UK) natural gas prices
      - Europe TTF natural gas prices
      - United States Henry Hub natural gas prices
- - - - Our current consumption model relies almost entirely on the use of non-renewable energy sources such as oil, gas, coal and uranium. At the current rate of consumption, oil will be the first fossil fuel to run out. According to projections, there would be between 40 and 60 years of proven reserves of conventional oil. Natural gas could be exploited for another 70 years. For coal, there would be around two centuries of reserves.
    - - These data are to be put into perspective because they are based on current consumption, while it is clear that it will increase considerably. Energy demands are and will be amplified by the demographic - the world’s population should reach nearly 10 billion people in 2050 - and economic boom of growing areas. According to the International Energy Agency (IEA), global energy demand could increase by more than 50% by 2030 in the absence of public policies in this area.
    - - Another reason for energy shortage and scarcity is the poor infrastructure of power generating equipment. Most of energy producing companies keep on using outdated equipments that limits energy production. The need to upgrade the infrastructure and set a high standard of performance is critical.
    - - Mainly coming from the unnecessary use of energy resources, energy waste describes the wastage of energy sources, in particular fuels and electricity. Consequently, the reduction of waste is a colossal source of energy savings, which requires actions both on an individual and collective level.
    - - The massive use of traditional energy sources leads - among other things - to the increase of greenhouse gas emissions such as carbon dioxide (CO2), resulting in global warming and harming the environment and biodiversity. Therefore, the energy crisis is closely linked to the environmental crisis.
    - - Energy security is one of the major concerns of the main economic centers of the planet. In fact, energy conditions the possibility of growth, which is essential to the market economy and its development model. The energy crisis could thus have a dramatic impact on the global economy. Besides, when energy markets fail, an energy shortage develops. Energy shortages and resulting economic factors may create socio-political issues.