::
Energy
The
energy sector, the driving force for modern civilization, has been
giving mixed signals. While oil prices have dropped because of producing
countries' desires to maintain income, the latest estimates suggest
that global oil production will peak in a decade or two. Falling
production will then drive prices up rapidly. On the other hand,
changes in technology such as a rapid shift to electric vehicles
could cause a fall in demand, which would have severe economic consequences
for oil-producing countries. While this would improve air quality
in cities, the impact on greenhouse gas production would depend on
whether non-fossil energy sources were used to meet the increased
demand for electricity (MacKenzie,
J., 1996).
.. References and Sources..
MacKenzie,
James. 1996. World Resources Institute report, April 1996. Cited
in "Scraping the barrel". New Scientist, 20 April 1996,
and Matthews, Jessica. "The two-alarm energy crisis". Washington
Post, 19 February 1996.
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