The general opinion evolved world-wide during past three decades, especially after 1970’s oil shock orients that the challenges
of energy sustainability are mostly
political, not economic or environmental. The same is true for the Environment - Environmental isses are social, its solution is political and the economics derives the direction.
The major challenge to energy sustainability is the global political movement to cap carbon emissions’ in quixotic quest to stabilize The Climate. The economics is the deterministic factor to adapt CDM or capturing & sequestering carbon emissions in geological formations. The atmospheric build up of greenhouse gases must have consequences, some possibly bad, a few probably good and other unrelated to warming. Moderately emissions are prudent until climate science determines with reasonable certainty that strong precautions are needed.
On a number of factors, the Global Infinite Sources of Energy have to be made environmentally sustainable, renewable and available to meet the challenges of population growth and economic development. The emerging Global Energy Policy is in the various stages of its formulation that will reorient the
technology development to make available cheaper, renewable and carbon free sources of energy and power. Till that time the abundant availability of coal, petroleum reserves and natural gas will provide sufficient lead time support of 21st century to meet its energy challenges. Usage of these fossil fuels will generate carbon emissions that have to be contained at a certain permissible levels.
A number of technological options are being developed under CDM applications at energy business at large, and for petroleum industry the most suitable one is the capturing and geological sequestration of carbon emissions. Certainly it will incur cost, however with the improvement of burning and energy efficiency, the incurred cost on carbon dioxide reductions may be compensated and further more, the technology development will reduce it to the bearable limits.
Let us hope the growth of carbon free and sustainable sources of energy and power in perfect harmony with the Nature to meet our energy needs. The survival of Mankind on the planet with population explosion and rapid economic development demands extra costs and the future directions of economic and technology development will mitigate the extra cost in favor of Human survival.