The reliable supply of cheap energy is something that is taken for granted in the developed world. This now seems to be under threat.
‘Japanese authorities have raised the severity rating of their nuclear crisis to the highest level, seven. Level seven previously only applied to the 1986 Chernobyl disaster, where ten times as much radiation was emitted’ (BBC News, April 12 2011). ‘A year on, fear and division still poison the oil spill coast’ (The Times, April 18 2011). ‘Germany withdraws from nuclear power’ (The Telegraph, May 31 2011). These are bad news stories arising, firstly, from the outcome in Japan following the tragic earthquake and tsunami and, secondly, from 12 months ago with the explosion of the Deep Water Horizon drilling platform in the Gulf of Mexico causing America’s largest environmental catastrophe.
Energy demand
The world population is growing and, with rapid industrialisation in China and India, so is the demand for energy per person. Many experts estimate that by 2050 the population of planet Earth will consume twice as much energy as it does at present. It’s an open question as to where this extra energy is going to come from. Seeking more oil in ever deeper waters is going to be a high risk activity. While there are major reserves of coal, the impact on climate change of doubling or trebling carbon dioxide and other gases in the atmosphere will be massive.