ECONOMICS

Economics



Introduction

After the Second World War, the United States the world leader in energy production and distribution. Over time, other countries have rebuilt their war-ravaged economy. As their oil consumption has increased, our reputation as the demand and supply is gradually diluted (Tobey Ronald 2006 145). Our relative decline accelerated in 1970, after the organization of Petroleum Exporting Countries (OPEC) was created, and then again when he flexed his muscles by depositing the oil shock. Later, in early 1990, some developing countries in Asia began to grow rapidly, which requires huge amounts of oil. Consequently, our significance as the client started to fall in the same order as our value as a supplier did before.

What happened to energy independence? As decades progressed, the United States, more and more integrated into the global economy, where goods, information, and oil move unimpeded across national borders (Nye David 2000 90). Throughout the world, produce energy, if they can, and buy on the world market, they need outside their own production. Oil flows toward the highest bidder, like all other goods. Consequently, talking about "independence" in terms of a product otherwise seamless global economy is a contradiction. As national policy, we must protect the U.S. economy from interruptions in the delivery of critical goods-whether these interruptions due to natural or political reasons. I believe that the appropriate objective is to strengthen our ability to adapt to these changes to strengthen our energy sustainability. We can do this by increasing our dependence on electricity.Electric Power

America - and much of the world - is becoming increasingly electrified. Today, more than half the electricity produced in the United States comes from coal. In the foreseeable future, coal will remain the dominant fuel used for electricity production. Low cost and abundant coal is one of the main reasons why consumers in the interests of the United States from some of the lowest electricity rates of any free market economy (Jacobson David2001 56).

Office of the Department of fossil fuels is working hard to keep coal in electricity generation America's future. The main task is to remove the environmental objections to coal use in power plants of tomorrow. New technologies being developed within the framework of fossil energy can virtually eliminate sulfur, nitrogen and mercury pollutants released when coal is burned. It may also be possible to capture greenhouse gases from coal-fired power plants and prevent their contribution to the global warming problem.

The study is also underway to increase the fuel efficiency of coal-fired power plants. plants today convert only one third of the energy potential of coal to electricity. New technologies for fossil energy program of energy could nearly double the level of efficiency in the next 10-15 years. Higher efficiency means more affordable electricity and fewer greenhouse gases.

Although coal is the main fuel for the country's electricity, natural gas is the fastest growing fuel. More than 90 percent of power plants will be built in the next 20 years will likely be fueled by natural ...