Future Energy

With ever increasing petroleum prices and no alternative in sight, some key enablers of Globalization such as Aviation and Shipping industry are taking a hit.

Its interesting to note that imported steel is no longer the best option in USA and domestic steel industry is booming once again. The same trend could catch up all across the manufacturing sector as freight costs increase further.

Some renowned economists including Jeff Rubin are already predicting the end of global economy as we see it.

But shipping industry can certainly take a helping hand from bio-fuels and natural gas if crude prices maintain their trend upwards.

May be one day we will see solar cargo ships!!!

Moreover as oil prices rise, consumers will adjust and replace oil. We can see oil prices plateau even if supply falls in future. For example as oil prices increase, many will adjust their life to commute shorter distances and switch to electric vehicles, trucks will embrace natural gas, etc.

While there are many compelling arguments in favor of Wind and Wave energy, there are few that go against these sources of power. According to Axel Kleidon, Mark Buchanan and others, Wind and Wave energy are essential components of our Climate system and once we start tapping their energy, Earth's climate will begin to change. They express caution against wide spread use of Wind and Wave power plants. While these arguments have compelling science behind them, we are still long way away from making any noticeable impact.

More:

http://www.newscientist.com/article/mg21028063.300-wind-and-wave-farms-could-affect-earths-energy-balance.html

Ocean waves have a great deal of energy in them which can be harnessed to create yet another alternative source of electricity. Many shorelines across the world have enough energy to make these systems viable.

Many start-ups and research initiatives across Europe and Asia have already started perfecting this technology and it may not be long before the associated costs are brought down to a level comparable to traditional sources of electricity.

The only hiccup according to me is that this will directly compete with Wind power. Any location with adequate waves will also be suitable for Wind power as wind and waves go together. It all depends on which turns out be cheaper of the two.

Here is an interesting argument and plan for a sustainable future...

An inspiring talk by Donald Sadoway, MIT, about high capacity battery technology that will eventually help us transition to renewable sources of energy like solar and wind.