Harvesting alternate energies from our planet

Economy

Scientific paper

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Scientific paper

Recent price fluctuations have focused attention on the phenomenal increase of global energy consumption in recent years. We have almost reached a peak in global oil production. Total world consumption of oil will rise by nearly 60% between 1999 and 2020. In 1999 consumption was 86 million barrels of oil per day, which has reached a peak of production extracted from most known oil reserves. These projections, if accurate, will present an unprecedented crisis to the global economy and industry. As an example, in the United States, nearly 40% of energy usage is provided by petroleum, of which nearly a third is used in transportation. An aggressive search for alternate energy sources, both renewable and nonrenewable, is vital. This article will review national and international perspectives on the exploration of alternate energies with a focus on energy derivable from the ocean.

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