SOCIOECONOMIC IMPACTS ON NON-RENEWABLE ENERGY

ENERGY SYSTEM

BIL 1 2 3 4 5 6 7

NAME AMARANATH S/O THANGARAJU NUR ZAWAWI B. ZULKIFLEE MOHD RIDZUAN B. ROSDI AIDIL AZRUL IZZAT B. ZULHAIDI SASIKUMAR S/O MANYVELAU MUHD REDHZA B. MOHAMED KHALIB RAVINDRA KUMAR S/O CHANDRA SEGARAN

MATRIX ID 15DKA10F1141 15DKA10F1132 15DKA10F1129 15DKA10F1138 15DKA10F1198 15DKA10F1127 15DKA10F1144

THE EFFECT OF NON RENEWABLE ENERGY TO ECONOMY GROWING

WHAT IS MEANT BY ECONOMY GROWTH?

Economic growth is the increase in the amount of the goods and services produced by an economy over time theory of economic growth pays little or no attention to the role of energy or other natural resources in promoting or enabling economic growth Growth is usually calculated in real terms,

As an area of study, economic growth is generally distinguished from development economics.

key factors
These key factors are of economic growth
substitution between energy and other inputs within an existing technology technological change shifts in the composition of the energy input shifts in the composition of economic output.

What is Social Economy?

Can be defined as
that part of the economy which is neither private nor public, but consists of constituted organisations, with voluntary members and boards of directors or management committees, undertaking activities for local benefit.

Economies may be considered to have three sectors:

The business private sector, which is privately owned and profit motivated;

The public sector, which is owned by the state;

The social economy, that embraces a wide range of community, voluntary and not-for-profit activities.

FACTORS AFFECTING THE ECONOMY GROWTH TOWARDS THE USE OF ENERGY

Supply and Demand
Because unsustainable energy reserves are limited, they will become more and more expensive as they are used. Consider the state of gas prices today, and imagine how these prices will continue to rise as oil becomes rare and gasoline is no longer an easily accessible resource. T he technologies we use to make our lives easier will be rendered completely useless if the fuel used to power them ceases to exist, and yet someday this is exactly what will happen. If alternatives are not sought out and perfected, such a shortage could result in chaos.

Cont.
Running Out Eventually,all non renewable energy resources will be depleted; the name itself admits this inevitability. When this happens, all technologies still running on these fuels will become obsolete, and many people may suffer in their absence. We must turn to other forms of energy production: wind, solar, and geothermal power sources, which can be used indefinitely. With these alternatives, the process of technology conversion should begin sooner rather than later. It would be better to stop needing fossil fuels before they have completely disappeared.

Non-renewable resources are energy sources that we use and consume faster then nature produces them. Fossil fuels such as coal and natural gas, take centuries to form naturally, and crude oil takes millions of years to form. These resources are not infinite and over time, most experts believe they will cease to exist. Here are some scary facts regarding non-renewable energy according to The Ecologist based on current worldwide consumption rates : The natural gas supply will run out within the next 35 years. Within 70 years the world's current oil reserves will be gone - If the current rate of consumption continues for oil, the supply is predicted to run out within the next 14 years. Not only is the scarcity of these resources a global problem, the resulting pollution of using fossil fuels is as well.

Not Just Fossil Fuels

When most of us think about non-renewable resources, the first thing we think about is fossil fuels. Though these fossil fuel energy sources are the most widely publicized, there are other resources that are slowly running out such as: Aluminum Copper Silver Gold Diamonds

Once people mine these materials, they cannot be replaced at a sustainable rate.

Socioeconomic Aspects
On a long term basis, may be as important as environmental aspects Lack of stable and reliable energy source can cause major social and economic disruptions and even lead to wars. Japan used concerns about oil supplies as an excuse to attack US in WWII.

Fuels used as weapon (1970s oil embargo,Russia closes Ukraine pipeline).

Current economic downturn directly tied to high energy prices.

A growing world population meets the challenge of limited natural resources. How about the future?