The energy sector has become a matter of more concern over the years due to the fast rising petrol and diesel prices over the Globe. Heavy reliance upon the conventional fossil fuels has given birth indefinite headaches for the economies over the globe. So the need of the hour is to rely more upon the non-conventional sources like Sun, Wind and Bio Mass.
The energy sector is an important one for all the various countries of the world, and especially, the countries that are developing from an economic point of view. It has been observed that the energy sector has played a crucial role in the context of the global economy. Prices of oil and such other sources of energy have been affecting the economies of various developing nations and have been playing crucial roles in shaping them.
The world energy scenario depicts a picture of concern. The adverse effects on environment caused by the production and consumption of energy have resulted in severe environmental impacts across the globe. The supply of energy is expected to remain adequate in coming years. However, imbalance of energy consumption is prevalent around the world. Energy consumption is high in most developed countries. On the other hand, the developing countries need to consume more energy to ensure economic growth.
The Center for Energy and Economic Development (CEED) was set up to look into the interests of the coal industry. The CEED was merged with the ABEC (Americans for Balanced Energy Choices) on 17th April 2008. The Center for Energy and Economic Development had almost 200 members which inluded eight Fotune 200 companies. More than 70 of the 200 member companies represnted at the Board Member level of CEED. CEED’s members inluded coal producers, railroads, utilities, equipment manufacturers and suppliers, barge shippers, and labor unions.
Fuel Economy is the number of miles a vehicle gets per unit of fuel consumed. It is calculated by dividing the number of miles covered by the number of gallons of fuel consumed. Fuel economy is a major concern area in the energy scenario of the world. The high consumption of fuel by vehicles has led to high consumption of energy resources. This in turn has resulted in the escalation of fuel prices around the world.
