The global economy depends 100 percent on energy and energy consumption keeps increasing steadily. However, society today faces enormous energy challenges as a result of massive dependence on fossil fuels. Burning fossil fuels lead to global warming (Houghton, 2004). However, Fossil Fuels are non-renewable and limited in supply as such they will eventually become depleted. Although renewable sources of energy such as solar and wind power promise global warming friendly energy, they only account for 7 percent of the world energy demand and are expensive to adopt.
As population increases, demand for energy will increase. Therefore, it will be difficult for the global economy to meet the rising demand without relying on reliable and affordable energy. Fossil fuels will diminish within 50 to 200 years, and within this period population will grow increasing demand for energy. So societies have to adopt policies that regulate population growth so as to ensure a population that can be sustained by available energy sources. Alternatively, the globe can result in nuclear energy sources that produce energy by splitting of atoms. Nuclear power has tremendous potential but pose considerable dangers.
No single solution can address these problems, so all countries should adopt concerted policies promoting energy efficient standards and reforms that redirect energy subsidies (Tatsutani and Ahuja, 2009). Policies that identify promising indigenous renewable sources of energy should be adopted and implemented to ensure sustainable development leading to positive economic spillovers. Developed countries can help out developing nations through transfer of effective energy technologies that will ensure sustainable global objectives. Population should be controlled to reduce environmental degradation and high energy demand.
Houghton, J. T. (2004). Global Warming: The complete Briefing (3rd ed.). Cambridge University Press
Tatsutani, M., & Ahuja, D. (2009). Sustainable energy for developing countries. Vol. 2 Retrieved from http:// www.sapiens.revues.org/823