2.0 IMPACT OF THE FUEL PRICE HIKE TO THE CONSTRUCTION INDUSTRY
2.1 Introduction
The recent increase in fuel and building price will give the big impact on the construction industry, which is one of the country’s engines of growth, and
Gas production and oil are the main sources of energy. Gas fell from 9400 million cubic feet to 6600 million, it is said that gas imports will rise in the future and new techniques are being used to extract more oil, Miller oil field in Scotland is expected to extract more than £40 billion worth of new…
References: United Nations Development Programme (2013). Achieving Sustainable Energy for All in the Asia-Pacific. Retrieved from http://www.snap-undp.org/elibrary/Publications/APRC-EE-2013-SE4ALL.pdf…
Fuel is a commodity that the United States and countries all across the globe will continue to use unless an alternate fuel is made available. The uses for fuel include everyday uses in our homes, running vehicles, and the use in manufacturing plants and other businesses that run on fuel.…
In the United States and around the world, demand for energy is growing significantly. Climate change and environmental regulations continue to push against the need for increasing energy generation. In the U.S., natural gas has become a popular alternative fuel source for power plants. It is also recognized for its ability to heat homes and serve as fuel for motor vehicles. Natural gas could greatly reduce the United States reliance on oil and coal.…
Malaysian has a chance to research, develop and sell clean energy technology in the form of solar, green retailing, green chemistry and transportation fuel before mega-economies such as China figure out that clean energy is the only way to grow and survive. We believe that a clean power is going to be the next great global industry. For example, states like Rhode Island can use tax breaks to lure clean-energy companies, positioning themselves to reap the benefits of the new green market. We must know that innovation is the path to climate and energy salvation (Ref.: www.projo.com).…
Malaysia has recognised green technology as one of the key drivers of national economic growth. To achieve this, the Government is currently reorienting its policies to promote and develop green production. (Matrade, 2011) In order to enhance the growth of green technology of national economy, Green Technology Financing Scheme (GTFS) are formed.…
“The government’s move of increasing petrol and diesel prices has been largely in line with what was being expected in wake of the development witnessed with respect to global crude oil prices, which have been hovering in the $125-130 per barrel range. However, this is negative for the cement industry as a large part of its transport is through roads. The fuel price hike will act as an added woe for the industry,” said Hitesh Agrawal, research-head, Angel…
Indonesia’s over-reliance on oil as a key energy source causes energy insecurity. Currently, non-renewable energy resources for instance oil, coal and gas constitutes 73% of the total energy consumption. In particular, oil still makes up 36% of Indonesia’s total primary energy consumption in 2012, despite its declining significance over the years.With Indonesia’s current oil consumption of about 1.36 million barrels daily (bpd) against oil production of only 826,000 bpd, Indonesia faces problems satisfying domestic energy demand. Moreover, Indonesia’s electricity network was developed in the…
Natural gas is rapidly gaining in geopolitical importance. Gas has grown from a marginal fuel consumed in regionally disconnected markets to a fuel that is transported across great distances for consumption in many different economic sectors. Increasingly, natural gas is the fuel of choice for consumers seeking its relatively low environmental impact, especially for electric power generation. As a result, world gas consumption is projected to more than double over the next three decades, rising from 23% to 28% of world total primary energy demand by 2030 and surpassing coal as the world’s number two energy source and potentially overtaking oil’s share in many large industrialized economies.…
Energy is a key driver for economic growth, constituting about 20% of the Gross Domestic Product (GDP). In 2010, the total primary energy supply was 3127.7 petajoules. The main energy sources of commercial energy supply were crude oil, which accounted 44.7% and natural gas which accounted 41.6%. These sources remain major ones. However, the share of coal and coke increased from 9.1% in 2005 to 11.2 % in these years and only 2.5% came from the non-fossil source of hydro power in 2010.…
The major sources to meet out the demand of power consumption around the globe have been petroleum, Coal, Gas. But, they cannot be reused and therefore limited and becoming more costly day by day. Over the years, energy sources have become key figures in the socio-economic changes around the world. Plus, the…
Oil Crude oil is a fossil fuel that is refined into many different energy products (e.g., gasoline, diesel fuel, heating oil). Oil forms underground in rock such as shale, which is rich in organic materials. | High net energy yield Easily transported within and between countries Low land use | Causes air pollution when burned Releases CO2 when burned Increases dependency on countries that are major oil producers |…
What comes to mind when you think about energy? I bet most of you probably think about electricity, heat, and basic everyday things that we use that require some sort of energy. Let’s think about that for a moment. How are things like electricity and heat produced? Many of the commodities that we all in enjoy in this world like electricity, heat, and many other things are produced by an energy source. These sources for a very long time consisted of primarily oil and coal. These energy sources were used to help generate and provide electricity and heat to almost all of the United States. Now the prices of these energy sources are soaring and with the economy in recession consumers are looking for a cheaper and reliable energy source. The solution is natural gas. Do you know why natural gas is the best choice for tomorrow’s energy? Throughout this paper you will be brought behind the scenes of natural gas and its industry to show you some comparisons between natural gas and its main competitors oil and coal.…
There was a time when natural gas was treated as an unwanted byproduct of crude oil production and simply flared off. Now it is a common replacement for crude oil and a major source of energy for many nations. Natural gas comprises 22% of worldwide energy demand (Morgan Stanley Research, March, 2011). Natgas consumption is forecast to double by 2030. It is the fastest growing energy source in the world and the most flexible of all primary fossil fuels. Its uses include power generation, home heating/cooking, fertilizer and is also convertible to diesel fuel for automobiles. It is also colorless, odorless and burns cleaner than other fossil fuels.…
Energy is one of the major inputs for the economic development of any country. In the case of the developing countries, the energy sector assumes a critical importance in view of the everincreasing energy needs requiring huge investments to meet them. Energy can be classified into several types based on the following criteria: • • • Primary and Secondary energy Commercial and Non commercial energy Renewable and Non-Renewable energy…