Changing energy scene takes center stage at European conference.Byline: Roudi E. Baroudi Summary: <p>The paper presented at the "International Association for Energy Economics International Association for Energy Economics (IAEE) is an international non-profit society of professionals interested in energy economics. IAEE was founded in 1977, in the period of the energy crisis, when it became obvious that lack of knowledge on energy economics is one of " attempts to show how the changing energy scene, be it due to scarcity Scarcity The basic economic problem which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently. of energy leading to increasing energy prices or climate change effects, has influenced policy change, and technological advances in energy production, consumption, and conservation. First person by Roudi E. Baroudi Aa Overview Aa The paper presented at the "International Association for Energy Economics" attempts to show how the changing energy scene, be it due to scarcity of energy leading to increasing energy prices or climate change effects, has influenced policy change, and technological advances in energy production, consumption, and conservation.Aa With rapid growth in a number of emerging economies, especially the highly populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. ones, we have witnessed significant increases in energy demand with attendant increases in prices. This has in-turn led to formulation formulation /for·mu·la·tion/ (for?mu-la´shun) the act or product of formulating. American Law Institute Formulation of policies, strategies, and regulations aimed at providing incentives for the development of innovative technologies to enhance energy production, reduce pollution and climate change impacts of energy production and consumption, development of new and renewable sources of energy, and energy efficient technologies for industrial and household applications.Aa The rise in energy prices, as had been seen prior to the recent world-wide economic recession, had also rendered economic the development of alternative energy resources that were otherwise uneconomic, thus increasing the envelope of available energy resources that could be tapped to support economic growth. In the same vein the challenge that arises is to ensure that such resources can be development in an environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] manner, and without impacting adversely on the natural climate.Aa As the world population grows, and living standards living standards npl → nivel msg de vida living standards living npl → niveau m de vie living standards living npl in developing countries improve, the demand for energy will increase significantly. The document also discusses the linkages between policy and strategy on one hand, and advances in energy technologies on the other for sustainable economic growth. The paper will go into some degree of detail on the costs and benefits of applicable modern energy technologies, and their adaption adaption see adaptation. for application in developing countries, including issues of cost-effective access expansion to the majority of the world' s under-privileged populations. Aa Methods Aa We now face major development challenges to secure the energy future that would assure efficient sustained economic growth. Meeting the challenges depend on the policies that are adopted as well as the strategic choices that would lead to the desired outcomes. The days of "laissez-faire" economics, where the supply and demand balance is established purely by market forces, are gone. It is now up to countries to build planning based on sound economics into development programs to secure cost-effective energy supplies. The significant technological advances that have been made in recent years in the areas of energy production and consumption stem from the policy changes of countries to adapt the changed energy scene of dwindling dwin·dle v. dwin·dled, dwin·dling, dwin·dles v.intr. To become gradually less until little remains. v.tr. To cause to dwindle. See Synonyms at decrease. low cost resources, and the increased awareness of the negative impacts of energy production and consumption on the natural environment and on human health, as well as on the global climate. The advances in boiler boiler, device for generating steam. It consists of two principal parts: the furnace, which provides heat, usually by burning a fuel, and the boiler proper, a device in which the heat changes water into steam. technologies with the ultra and super-critical boilers are making it possible to use less fossil fuel fossil fuel: see energy, sources of; fuel. fossil fuel Any of a class of materials of biologic origin occurring within the Earth's crust that can be used as a source of energy. Fossil fuels include coal, petroleum, and natural gas. , especially coal, to achieve same energy production as compared with non super critical boilers. Least-cost generation expansion analyses to establish basis of long-term future generation expansion should incorporate the costs of externalities externalities side-effects, either harmful or beneficial, borne by those not directly involved in the production of a commodity. in comparing alternatives in establishing the long-term least-cost expansion development plan. This raises the debate as to whether the cost carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions should be included in establishing the merits of coal-based generation, and nuclear powered generation candidates. Such comparison would provide for integrating climate change effects in planning for future power system expansion. The grey area of such analyses remains the appropriate value of a pound or kilogram kilogram, abbr. kg, fundamental unit of mass in the metric system, defined as the mass of the International Prototype Kilogram, a platinum-iridium cylinder kept at Sèvres, France, near Paris. of carbon dioxide. The solution for analyses lies with the use of range values resulting in alternative solutions to the system's expansion. Part of the solution lies in regional integration of power systems and the developments of networks in an optimized manner for the entire region. Countries with large low-cost hydropower hy·dro·pow·er n. Hydroelectric power. resource potential, such as the untapped significant potential of the Congo River Congo River or Zaire River River, west-central Africa. Rising in Zambia as the Chambeshi and flowing 2,900 mi (4,700 km) through the Democratic Republic of the Congo to the Atlantic Ocean, it is the second longest river in Africa. in the Democratic Republic of Congo (about 100,000 MW) could serve as a source of low-cost clean energy to serve the needs of Southern Africa
The role of pricing that reflects economic cost of production and distribution is critical in inducing efficiency of consumption and conservation. While this is necessary as a market mechanism, command and control mechanisms are necessary not only for situations where market imperfections exist, but to provide the incentive to industry and households, through direct interventions by setting standards, and providing the financial, taxation and material support. The changed energy scene, and the likelihood of continuing higher prices have given rise to the development of cutting edge technologies for industrial energy efficiency. In addition, industries are retooling and changing processes to save on energy.Aa Aa Results Aa The methodological approaches help to determine the trade-offs among alternative strategies to securing reliable and cost effective energy supplies to sustain economic growth. Decision makers would have basis to assess the costs of alternative strategies and even the cost of decisions that may be based on political considerations. Aa Conclusions Aa The changes in the energy scene as we have experienced in recent years has made it imperative for policy change toward adaption to the new situation in order to achieve and sustain economic growth. The positive impacts of policy change in inducing the significant advances in technological improvements for energy production, quality and use has been phenomenal. The challenge of climate change has shown how interdependent in·ter·de·pen·dent adj. Mutually dependent: "Today, the mission of one institution can be accomplished only by recognizing that it lives in an interdependent world with conflicts and overlapping interests" we are as a global community. Securing reliable and affordable energy for sustain economic growth would require sound policies that integrate economics and technologies effectively. Aa Roudi E. Baroudi is secretary general of World Energy Council-LebanonAaE-mail : wecleb@wec-lebanon.org Copyright 2009, The Daily Star. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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