Energy Crisis´ Impact On The Economy

Essay, 2009

7 Pages, Grade: Sehr gut

Abstract or Introduction

Did you know that the world consumes 40,000 gallons of oil per second? Because of that, oil production has reached its peak in 33 out of 48 countries. Today oil is a very important part of everyday life. For example, in the USA, the transportation sector is almost exclusively moved by energy made from oil. Oil is also the reason why we have the possibility to get bananas or melons in winter. Cargo ships make it happen that we can enjoy fruits or vegetables at any time of the year, when it is usually not possible to get these in our region. The big problem is that we run out of oil and gas. Experts say that oil will be finished in approximately 2050 and gas in about 2070. These facts have massive effects on oil prices. Oil and gas prices will increase sharply over the next few decades. The same applies to a lot of other items, which need oil for their production or their transportation. As a result everyone´s life will be influenced and will become more expensive. Today there are many alternatives to oil or gas. Renewable energies could replace them. This is the chance that our dependency on oil or gas will become reduced in the future. Therefore it is very important that the development of the renewable energies gets support and that it will evolve. All in all, the energy crisis has three main impacts on the economy, such as the increase of oil prices, financial downturns and it offers the opportunity to develop renewable energies.


Energy Crisis´ Impact On The Economy
University of Applied Sciences Vorarlberg
Sehr gut
Catalog Number
ISBN (eBook)
ISBN (Book)
File size
381 KB
energy, oil, crisis, economy, industry, renewable energy, solar, wind
Quote paper
BA Dominik Hauser (Author), 2009, Energy Crisis´ Impact On The Economy, Munich, GRIN Verlag,


  • No comments yet.
Look inside the ebook
Title: Energy Crisis´ Impact On The Economy

Upload papers

Your term paper / thesis:

- Publication as eBook and book
- High royalties for the sales
- Completely free - with ISBN
- It only takes five minutes
- Every paper finds readers

Publish now - it's free