Current US Energy Demands and the Need for Alternative Energy Sources

Paper Summary:

This paper attempts to analyze the economic situation of current oil resources, the principles of supply and demand and the need for alternative energy as emphasized by President Bush. The paper discusses how if we want global economic stability, the energy sector requires due attention. The rising demand for oil, its increasing prices and possible depletion of oil resources demand alternative energy sources. The paper contends that other countries should join the US in pushing for economic betterment of their countries and the world in general.

Outline:
Energy Scenario in US and Bush Administration
Economy of Energy Sector
Demand for Energy
Supply of Energy
Demand and Supply Equation
Oil Peak and Search for Alternative Sources
Conclusions

From the Paper:

"President Bush has started giving more importance to alternative energy sources. In order to emphasize the need for alternative energy sources he toured advanced energy technology companies in Wisconsin and Michigan. He talked about different energy sources and new options like nuclear energy, solar power and a hybrid gas-electric car. "Overall, Bush's 2007 energy plan calls for a 22% increase in clean-energy research at the Department of Energy. It seeks to invest more in low-pollution coal-fired power plants, solar and wind technologies and nuclear energy" (Benedetto, 2006)."

Sample of Sources Used:

• Benedetto, R. (2006, February 20). Bush makes push on trip for other energy options. USA Today. Retrieved March 25, 2006, from http://www.usatoday.com/tech/news/techpolicy/2006-02-20-bush-energy_x.htm.
• Burn, T. (2002, December 29). THE ENERGY DEBATE; Domestic Use Grows, but Future Strategy Remains Uncertain. The Washington Times. A01.
• 'Demand' Retrieved March 25, 2006, from http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/oil_market_basics/Demand_text.htm
• 'Energy crises'. (2006, March 20). Wikipedia Encyclopedia. Retrieved March 25, 2006, from http://en.wikipedia.org/wiki/Energy_crisis
• Godfrey, J. (2001, July 30). Bush Proposals in House Energy Bill. The Washington Times. 4.

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