World Energy Crisis.

Essay by xcardinalHigh School, 12th gradeB+, September 2005

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Margaret Mead (1901 - 1978), an U.S. anthropologist once said, "We are living beyond our means. As a people we have developed a life-style that is draining the earth of its priceless and irreplaceable resources without regard for the future of our children and people all around the world."

The potential for an energy crisis has never been higher. Oil prices have recently exceeded $70 per barrel and they may continue to increase. The disruption of Venezuelan oil supplies has increased the world's dependence on Middle Eastern oil. With the crisis in Venezuela, the capacity of OPEC to meet any additional supply interruption is limited and the war in Iraq would put OPEC at its limit. Unfortunately, an energy crisis could cause a recession, inflation, and higher unemployment.

This essay will discuss furthermore, the cause of energy crisis, the vulnerability of energy crisis and the solution of energy crisis.

II. The cause of energy crisis.

Energy crisis is a situation in which world suffers from a disruption of energy supplies, accompanied by the rapidly increasing energy prices that has threatened economic and international security. The threat to economic security is represented by the possibility of declining economic growth, increasing inflation, and rising unemployment.

According to Jimmy Carter, one of the members of the congress in America, The same indicators and warning signs that existed prior to the energy crises of 1973 and 1979 exist today: "a political crisis in Venezuela that halted most of the Venezuelan oil exports, the war in Iraq, stocks at their lowest level in twenty six years, imports nearly record high, and more concentrated imports than ever". However, the current problem is even worse than the previous two energy crises because, unlike the 1970s, most controlling power plants and factories are using oil as their...