However in the long-run, this price raise is not enough to make people quit smoking so since cigarettes are a demerit good, it will have a negative effect on the environment and it will increase the number of health issues from second hand smoke, not to mention the high unemployment rate and less taxes for the government. Work Cited: BusinessDictionary.com. 2013. What is inelastic demand? definition and meaning.
Can a sustainable energy supply be maintained in the future? Ensuring the supply of energy for future generations and preventing further environmental damage is one of the main concerns facing the generations of today. Using current sources of power at the levels we are today are unsustainable and will result in serious environmental consequences. By developing alternatives and reducing the demand of energy, sustainable energy supply may be achieved. Supplying a sustainable source of energy for today’s population is already a challenge, however in the future the world’s population is set to hit a peak of 7.8 billion.
Essay Questions 1. There are several differences between the industrial society and the postindustrial society. Within the industrial society, new types of technology were introduced in order to mass produce goods needed for the economy to grow. Steam transportation was used in order to send their goods to further locals than ever before. They utilized fossil fuel to increase the rate and scale of their production lines, even though over time this would eventually decrease the need for human labor.
That balance slowly adjusted over the next 20 years due to reduced production. The price of gas peaked at the end of that cycle in 2008 at $12.69 /mmBtu (millions of British Thermal Units) based on the Henry Hub Natural Gas Front Month Futures (a standard for finding the pricing point of natural gas). However, because of the economic crisis and the emerging shale gas market, the price lowered to $6.50 between 2008 and 2010. The quickly expanding market increased supply so much that it hit a low price of $1.82/mmBtu in 2010. It has averaged $3.50/mmBtu in recent years due to new fracking technologies and government subsidies (McElroy, Lu, 2013).
Technological- Lighter cars, hybrids, longer lasting batteries. Economy- The type of market our society is currently in. If we are in a recession, consumers might not be buying cars. Social- Society is starting to go away from power and really want MPG. Save money any way possible.
If we drill here, as I have stated, we spend less money; by spending less money, we can keep more money here from taxes and shipping costs, lowering the prices at the pumps, because the oil companies will not be getting taxed as much, leaving them room to drop the prices. Drilling ANWR is better than it is bad. All of the money we could keep, and make in America would boost our economy in a much needed forward motion. This gives businesses extra money in pocket, leaving them some money to expand themselves and higher more employees, which will lead to even more money! ANWR is not an environmental threat, so I ask, Why not?
I mean people out there have, they have invented, batteries, windmills that create energy, even solar panels, but from what Saul is trying to say, is that even though these are good at creating and storing energy. One day they are going to run out and it will be hard to just live on them. Batteries die off and we throw them away; a single windmill doesn’t provide power for a whole town, and solar panels are costly. So what other option do people have? This leads us to the cost.
I will have more square feet to provide electricity/heat, more mouths to feed, and more traveling to be done. Hopefully my larger income will be able to offset these actions by purchasing an electric vehicle, the use of solar panels, and more energy efficient appliances. Like many people in the lower to middle class, I can not afford energy efficient appliances, hybrid cars, or the ability to buy locally grown food, in today's age. This economic gap, between a cheap lifestyle and a sustainable lifestyle, is too large for me, and many individuals, to do both. Over time with economic, social and political change, hopefully a more sustainable world will be on the horizon.
Solar energy is a non-pollutant, cost effective, maintenance free, life span of up to 40 years; however the upfront cost is enormous, and not everyone can afford the cost to put the stylish panels on their roof tops. Many jobs would be lost at the oil field however more jobs would be created by installing other methods of
Where American energy policy is far less sensible is when it comes to the price reflecting the true cost. Tiny petrol taxes take no account of the damaging effects of pollution. This newspaper has long argued for a carbon tax to make dirty energy more expensive and thus curb demand. If that happened, some of the new oil might not be worth extracting: Canada’s heavy oil, for instance, emits about 6% more carbon dioxide than normal oil, which in turn can be 30% dirtier than gas. The biggest bonanza from all this new energy would be if the users paid the real cost of consuming oil and