Threshold dimensions on evolving sustainable energy portfolios of 21st century results in continuance of carbon economy beyond mid century term as the lead period for converting global energy system into a sustainable economy.The research paper is focused to analyze, most practical assumptions underlying energy forecasts on rising expectations of economic development, enhancing human developmental indices and furthermore growing pressure on critical energy, environmental and climatic issues, covering next half century, leading to reassess New World Energy Order and Geo-economic Equation in mid century term; however the assessment may not incorporate following factors, in real term:• Likely impacts of Technological Breakthrough on energy production & consumption profile beyond 2010 or 2020, which will have significant bearing in economic term.• Human Economic Choices in producing or consuming energy, specifically in social and environmental dimensions.• Any major economic or demographic disasters in distant future.Ongoing global debate on sustainable development and critical energy & environmental issues will be the key element in forging future energy production and consumption trends. These are the significant unknown determinants in deriving a new energy equation in mid century term; however on socio-economic and environmental dimensions, realities defined by scientists alone are not important; the significant factor is how society perceives on technology, economy and environment in formulating policy and legislative approaches, that will constitute the key determinants in deriving threshold dimensions to evolve Global Energy Policy and Economics in long term. The issues involved are many, however research paper restricts itself to reassess critical determinants on Economic profiling for Natural Energy Resources, Evolving Energy Business Scorecards, and Outlook of Renewable, Nuclear and Hydrogen Energy Issues in mid century term; the aim is to align a wide range of determinants to synthesize, “A New Energy Resource and Policy Equation for 21st Century,’ that may be more accurate than those formulated earlier.
Furthermore, whether or not we accept the risks involved in climate changes on dominant uses of carbon energy, nuclear power development, impact of new generation of transport systems on energy consumption, the paper emphatically integrates emerging trends that will determine our response to develop Energy Biomass in 21st Century for exploded population beyond mid century. The research introduces a new dimension on evolving global energy policy by integrating factors such as: (1) global linkages among energy, environment and natural resource economics on sustainability indicators; (2) dynamics of environmental and climatic behavior in economic terms that leads to the growth of sustainable energy portfolios on environmental sustainability modeling; (3) econometric derivation of energy market orientations based on community information systems and technology development; (4) linkages of technology, information and resource economy for converting global energy system into a sustainable economy; and (5) complexity of population matrices, human developmental indices, energy consumption profiles and environmental damage relationships, in formulating long term energy and environmental policy approaches. In the arena of energy economics, such determinants will lead to derive an economic model for sustainable Economy and Global Energy Policy in 21st century.
Author: Dr. Jagdish P. N. Giri,
Founder and Executive Director, Aaditya Energy Foundation, Chennai, India,