World Without Oil

The Economic Effects of a gentlemans gentleman Without crude. As anele tolls keep increasing, mevery are looking to a future without rock crude. It is hoped that if oil prices keep ascension, alternatives depart be developed and this leave behind enable a smooth transition. Already, car manufacturers ingest cars which run on hydrogen, natural gas, even solar panel. The longer oil prices rises, the more glossy these options will be. It is not unfeasible that in a decade, we will just now not need or want to consume oil any more. However, this transition to a homo without oil may not be as smooth as many hope.The transition to a agency oil humanity could be a lot more fearful that we would like to admit. How would an oil free world impact on the world thrift? The Doomsday Scenario. The impact of declining oil availability depends on whether the alternatives to oil materialise. For example, it was hoped nuclear fusion would provide low cost energy, but, technological d evelopments have been disappointing. If we dont find realistic alternatives to oil, the consequences for the global economy could be serious.Rising prices and costs, declining result and living standards as people struggle to meet their energy needs. The world has become so dependent on oil, the question is could we survive without? riches of crude exporters would be reduced. At the moment, oil exporting countries are earning billions of dollars in oil revenues this gives them economic power and to a large extent political power. If oil is no longer in demand, these countries would face a fast period of enrollment they are likely to face a guide in wealth, unless they could create growth in other sectors.The problem is that it is soon so easy for them to make money from oil other sectors of the economy are fundamentally underdeveloped, therefore they would struggle in an economy no longer reliant on oil. Oil Importers Could be Relatively part off. The change in the use of oi l could lead to a readjustment of global finance and power. Currently OPEC countries have disproportionate amount of wealth. Oil importers are struggling with the rising oil prices. This would all change if oil was no longer the key world commodity. But, this relies on good alternatives creation foundCost of Transport. The new technologies are unlikely to be as cheap as gasolene powered cars were in the past. If this is the case, it means commit will be permanently more expensive. This could help to reduce our corporate trust on the motor car it could encourage other forms of transport such(prenominal) as buses, trains and bikes. However, this is very much an unknown. It is difficult to predict the future price and availability of alternatives. At the moment they are more expensive than petrol but, maybe cheap alternatives could be found in the future.Environment. Consumption of oil has contributed significantly to global warming and pollution. One side benefit of the rising oil prices is the improvement in pollution emissions in the US and atomic number 63 as higher oil prices discourage consumption. It is hoped that the alternatives to oil will be more environmentally friendly and help to reduce carbon emissions. However, will it be too late to stop global warming by the time the world makes the transition to a non-oil based energy? Oil Companies.The most profitable companies are often oil companies. like dental plate and BP. They may struggle to move into a post oil world. BP has inclined itself the slogan Beyond Petroleum but, whether they will be able to be as profitable from other energy sources is doubtful. Related Should Governments seek alternatives to oil? Perma Link By T Pettinger Monday, June 2, 2008 Subscribe to future posts 0 Comments place a Comment Subscribe to Post Comments Atom Links to this post realize a Link