The Global Consumption Of Oil - 904 Words

The global consumption of oil has been deliberately rising for past two decades. The use of energy resources all over the world has raised concerns over the consumption of energy resources and its environmental impacts. In this essay, an attempt is made to picture the geographies of energy consumption that increased attention to carbon emissions in the G7 and BRICs and countries like India, China, Brazil, U.S.A and Canada and its implications for human society, climate and political or economic dimensions. All the data discussed in this paper about energy use and emissions are from the Enerdata Global Energy Statistical Yearbook 2015 unless otherwise indicated. In the recent years, overall demand growth for oil is strong in Asia pacific region and North America. The consumption of energy resources in major developing and industrial countries, namely, China, India and Brazil is expanding rapidly, but on the other hand, G7 countries where most of the demand of oil are consumed, demand for oil has been static and seems to be reduced from last few years. In 1990s, U.S and G7 countries were top consumers of oil, at present BRICs countries and China, are becoming greatest consumers of oil, although G7 countries and U.S are reducing their demand as compared to past two decades but still their demand is higher even from BRICs and China. The rapid increase in fossil energy consumption by emerging economies over the past decade clearly reflects the global increase in CO2Show MoreRelatedThe Global Consumption Of Oil951 Words   |  4 PagesOil is an important component in many industries and the majority of global energy needs are generated by oil. 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The continued use of oil in its many applications is a dominant cause of air and water pollution, which is substantially contributing to global warmingRead MoreCompetitive Enviroment Of World Oil Markets934 Words   |  4 PagesCOMPETITIVE ENVIROMENT IN WORLD OIL MARKETS OPEC Has Been Waring Its Role on Oil Markets The largest organization to control and impact oil suppliers is the Organization of the Petroleum Exporting Countries (OPEC), an entity which associates with13 countries: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. The mission of OPEC is to coordinate and unify the petroleum policies of its Member Countries and in orderRead MoreOil Prices And Rise And Fall Of Chinese Economy Essay1125 Words   |  5 PagesFalling crude oil prices and rise and fall of Chinese economy Who’s afraid of falling crude oil prices? 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