This is mainly because of the interrelationship between energy scarcity and raw materials depletion. Majority of raw materials require huge amounts of energy for extraction and transportation. However, since oil has been available, the energy required to extract raw materials has made the production cheaper, making it harder to visualize the depletion of these resources. Nevertheless, as the cost of oil increases, the cost of obtaining raw materials will become more expensive. The cost of various minerals will go higher, while others will become depleted.Oil and other fossil fuels are the most important sources of energy, serving over forty percent of energy needs world wide. Fossil fuels provide the world’s economy with lubricants, fuel, paint, plastics, and asphalt, just to name a few. Globally, the energy crisis is already in play. Since the year 2003, the energy sector has been characterized by the sharp rise in demands for more energy, the oil prices have steadily increased, while the production is declining in major oil producing regions. Consequently this has resulted into numerous controversial debates about the oil peak (Goodchild, 2010).The demand for energy grows stronger everyday as developed countries expand technological developments. Furthermore, countries like China and India have increased the need for energy to feed their growing economies. The need for more energy is evident in both developed and developing nations (Schlesing, 2012). Developing nations are characterized by overpopulation which fosters the need for more energy. Since the world economy is heavily dependent on fossil fuels, especially oil, scholars believe that “peak oil” is near future reality. Peak oil is the date when the annual production of oil in the world will hit the maximum, followed by a decline. It remains unclear as to whether this has happened, or is yet to happen because it is difficult to obtain accurate data especially from the oil producing nations.As the world economies grow, the production of energy must also grow to meet the increasing needs. However, overpopulation and extensive utilization of the earth’s resources has led to the flattening of energy production. This is such that, the exponential growth of the world economy is not matched by growth in energy production, but rather the flattening and seemingly
Bohm, G., 2001. Environmental Risks: Perception, Evaluation and Management. Oxford: Emerald Group Publishing.
Chandler et al, 2002. Policy+ Climate change mitigation in Developing countries Brazil, China, India, Mexico and Turkey. [Online] Available at http://www.iiasa.ac.at/Research/ECS/IEW2003/Papers/Shukla_dev_mitigation.pdf [Accessed 1st July, 2012]
Deke, O., 2007. Environmental Policy Instruments for Conserving Global Biodiversity. New York: Springer.
Diederen, A., 2010. Global Resource depletion, managed austerity and the elements of hope. Budapest, Istanbul: Eburon Uitgeverij B.V.
Digby, B., 2001. Global Challenges. Oxford: Heinemann.
Eccleston, C. & March, F., 2010. Global Environmental Policy: Concepts, Principles, and Practice. Boca Raton, FL: CRC Press.
González, R., 2008. Running Out: How Global Shortages Change the Economic Paradigm: a Statistical Yearbook. New York, NY: Algora Publishing, 2008.
Goodchild, P., 2010. Depletion of Key resources: Facts at your fingertips. [Online] Available at http://www.culturechange.org/cms/content/view/597/1/ [Accessed 1st July, 2012]
Heinberg, R., 2005. The Partys Over: Oil, War and the Fate of Industrial Societies. East Sussex, UK: CLAIRVIEW BOOKS.
Lee, K, McNeill, D & Holland, A., 2000. Global Sustainable Development in the Twenty-First Century. Edinburgh, UK: Edinburgh University Press.
Nilsson, M. & Eckerberg, K., 2007. Environmental Policy Integration in Practice: Shaping Institutions for Learning. UK: Earthscan.
OECD, 1999. Organisation for Economic Co-Operation and Development. Energy the Next Fifty Years. Guateng, South Africa: OECD Publishing.
Ramdoo, I., 2010. Implications of the EU Raw Materials Initiative on ACP Countries: Status of the mining Sector in trade Negotiations. [Online] Available at http://webcache.googleusercontent.com/search?q=cache:HeDSKOooObsJ:www.ecdpm.org/Web_ECDPM/Web/Content/Download.nsf/0/42CE0C6334649F2AC12577FB0044D659/$FILE/Implications%2520of%2520the%2520Raw%2520Materials%2520Initiative%2520EN.pdf+&hl=en&gl=ke [Accessed 1st July, 2012]
Schlesing, C., 2012. China ́s Rising Oil Consumption and Its Impact on the Global Oil market Munich, German: GRIN Verlag.
Please type your essay title, choose your document type, enter your email and we send you essay samples