Wind Power a Solution of Looming Energy Crisis Towards Sustainable Development

WIND ENERGY A SOLUTION OF LOOMING GLOBAL ENERGY CRISIS

TOWARDS SUSTAINABLE DEVELOPMENT

INTRODUCTION

By: Jennifer Ildefonso

A paper submitted for MGMT 6012 - Management Perspectives

Global recession now a days rapidly hits the Oil and Gas Economy. Global recession impact in the Oil and Gas Industry is a tough challenge for every investors and stakeholders.To overcome the phenomenon is the goal of each and every individual and it requires every management to have a tough choices and decision and for them to create effective innovation strategy.

World recession has had three immediate effects in the oil industry: The impact on Global energy demands, a drop in the oil price deflation from a pick of 140 dollars to below 40 dollars and a greater volatility in currency exchange rates. If this phenomenon will continue for some time, the impact in the oil industry could be considerable. A sustained period for a very low oil prices could bring huge cuts in the investment which would amplify the cyclicality in the industry and harm producers and consumers alike.(Jeroen, 2003-2015)

The JVI National Energy is a profitable oil company that engage in the construction of Oil Rigs and drilling operations. Due to the oil crisis the company investors and stakeholders needs to look for an alternative source of energy and technology which will be a benefit not only for the company but for each and every individual in order to help the countries meet their policy goals for a secure, reliable, and affordable source of energy to expand electricity access and promote development. (Agency, 2012)

Renewable energy has recently been advertised as a solution for the oil prices crisis. According to Robert Bryce, There is a new Study takes that a Wind out of Wind Energy can provide a cost-effective method of reducing carbon dioxide emission(Bryce, 2011).But a study from California stated that using Wind energy doesn’t reduce sulfur dioxide emissions at all. But it has been concluded from the study that wind energy is not a cost effective solution for reducing carbon dioxide if carbon is valued less than $ 33 per ton.

Objectives:

To introduce to the company the Wind Technology which is the alternative solution of Oil Crisis, the renewable Source of Energy..

Findings of Issues

Due to the ongoing Global recession which affects the most are the Oil and Gas Industry, the JVI National Energy Board of Trustees, Investors and the Stakeholders had come up with a doubts that there might be anxieties for them