Global  

“News neutrality by unbiased coverage”
One News Page
> >

How to fuel the future | The Economist

Video Credit: The Economist - Duration: 03:25s - Published < > Embed

How to fuel the future | The EconomistDonald TrumpDonald Trump

How to fuel the future | The Economist

America, under President Donald Trump, is securing its “energy independence” with oil and gas.

But unlike fossil fuels, renewables will not increase global warming —and China is moving fast.

Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy Oil moves the world around and creates powerful countries.

Oil is such a vital commodity that it provoked wars throughout the 20th century.

The few countries that produce it, try to keep control of it to ensure its riches stay at home.

Those who do not have it, strive to get it.

In the 1930s Saudi Arabia was one of the poorest countries in the world but the discovery of oil transformed it and Saudi Arabia has amassed $515.6 billion in sovereign wealth funds.

It has become the linchpin of a powerful cartel that sometimes rations oil to push up prices.

The United States is now the biggest producer of oil and gas owing to its shale revolution.

It has tapped abundant reserves through fracking - a technology that uses high-pressure water and sand to fracture rock deep below the ground to extract hydrocarbons.

This shale revolution has helped the United States become less dependent on oil imported from Saudi Arabia, Venezuela, Iraq, and other OPEC countries.

More oil and gas on global markets has also benefited the world's energy consumers by pushing down costs.

Oil still remains the primary fuel, supplying almost 1/3 of the world's energy but its heyday may soon be over, despite growing demand.

By 2040 the world's global energy use is set to increase by 30 percent.

That energy must be much cleaner if the world wants to prevent catastrophic global warming.

In the past coal and gas were less expensive than renewable technology but their costs have come down dramatically.

There is now a race among some nations to create more efficient renewable technologies to reduce pollution and be more energy self-sufficient.

China is the world's largest consumer of coal and the second largest of oil but it also now leads the world in clean energy.

One third of the world's new wind power and solar panels is installed in China, and it sells more electric cars than any other country.

The quest for energy self-sufficiency is a big motivation for many countries.

China is moving fast, and America under President Donald Trump, is securing its energy independence with oil and gas.

But unlike oil and gas renewables will not increase global warming.

The long term transition to clean energy will throw up new global challenges.

It will create tensions in unstable parts of the Middle East as oil revenue starts to dry up.

Another challenge is that wind and sun are intermittent.

Renewables may require vast shared electricity grids spanning boarders to make them more efficient.

To stop global warming the world needs a huge collaboration over our shared energy future.

If we fail, wars over scarce resources could be even worse in the 21st century than in the 20th.

Daily Watch: mind-stretching short films throughout the working week.

For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on Medium: https://medium.com/@the_economist

0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

A Bomb Exploded on Apollo 13, Here’s What Happened Next | Apollo [Video]A Bomb Exploded on Apollo 13, Here’s What Happened Next | Apollo 07:05

On April 11, 1970 NASA launched its third mission to the lunar surface. The crew of Apollo 13 consisted of veteran Jim Lovell and first time space flyers Fred Haise and Jack Swigert. While coasting to..

Credit: Seeker - Published

Tech M&A Actions Shows No Signs of Abating [Video]Tech M&A Actions Shows No Signs of Abating 02:44

Mergers and acquisitions in the tech space have helped fuel growth in recent years, especially as the cost of debt has remained low. In fact, over just the past four years M&A activity has totaled more..

Credit: The Street - Published

Ford CEO Jim Hackett On Mobility And The Exciting Future Of Driverless Cars [Video]Ford CEO Jim Hackett On Mobility And The Exciting Future Of Driverless Cars 01:14

Ford Motor Company CEO Jim Hackett talks about how technology behind driverless cars will fuel the fascination for mobility in congested cities.

Credit: Newsweek - Published

We Really Try to Avoid Getting Sick, Study Finds [Video]We Really Try to Avoid Getting Sick, Study Finds 01:12

Twenty-nine percent of Americans would give up caffeine if it meant they never felt under the weather, according to a new survey. A study of 2,000 American adults examined how frequently people get..

Credit: SWNS STUDIO - Published

Americans Really Try to Avoid Getting Sick [Video]Americans Really Try to Avoid Getting Sick 01:12

Twenty-nine percent of Americans would give up caffeine if it meant they never felt under the weather, according to a new survey. A study of 2,000 American adults examined how frequently people get..

Credit: SWNS STUDIO - Published

Americans Get Sick 4 Times a Year, Study Finds [Video]Americans Get Sick 4 Times a Year, Study Finds 01:12

Twenty-nine percent of Americans would give up caffeine if it meant they never felt under the weather, according to a new survey. A study of 2,000 American adults examined how frequently people get..

Credit: SWNS STUDIO - Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest