This blog provide information about Alternative energy & Renewable energy which become more significant since energy sources ; such as coal, natural gas etc , have been highly used during few decades. So it is time for us to take more consideration about alternative energy and get their beneficial use before existing energy sources has been exhausted.

13/05/2007

Energy crisis

An energy crisis is any great bottleneck (or price rise) in the supply of energy resources to an economy. It usually refers to the shortage of oil and additionally to electricity or other natural resources.
The crisis often has effects on the rest of the economy, with many recessions being caused by an energy crisis in some form. In particular, the production costs of electricity rise, which raises manufacturing costs.
For the consumer, the price of gasoline (petrol) and diesel for cars and other vehicles rises, leading to reduced consumer confidence and spending, higher transportation costs and general price rises.

Historical crisis

1973 oil crisis - Cause: an OPEC oil export embargo by many of the major Arab oil-producing states, in response to western support of Israel during the Yom Kippur War
1979 energy crisis - Cause: the Iranian revolution
1990 spike in the price of oil - Cause: the Gulf War
California electricity crisis - Cause: failed deregulation, and business corruption.
UK fuel protest (of 2000) - Cause: Raise in the price of crude oil combined with already relatively high taxation on road fuel in the UK.
Oil price increases of 2004-2006 - Cause: Near-stagnant world oil production in the face of increasing demand from the U.S and China

From wikipedia

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