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Energy Crisis
The Definition of Energy Crisisthe problem of supply of energy resources to an economy. In popular literature, one of the energy sources used at a certain time and place, particularly those that supply national electricity grids or serve as fuel for vehicles. There has been an enormous increase in the global demand for energy in recent years as a result of industrial development and population growth. Supply of energy is, therefore, far less than the actual demand.
Causesmonopoly manipulation of markets over-consumption, aging infrastructure, choke point disruption bottlenecks at oil refineries and port facilitieorganized strikesgovernment embargoes
Over-consumptionAging infrastructureBottlenecks at oil refineries and port facilitieOrganized strikesGovernment embargoes
Historical crisis
1990 oil price shock - caused by the Gulf War
The 2000–2001 California electricity crisis - Caused by market manipulation by Enron and failed deregulation
Fuel protests in the United Kingdom in 2000 , caused by a rise in the price of crude oil
North American natural gas crisisNorth Korea has had energy shortages for many years.Zimbabwe has experienced a shortage of energy supplies for many years due to financial mismanagement.
The impacts of energy crisis on ChinaChina experienced severe energy shortages towards the end of 2005 and again in early 2008. During the latter crisis we suffered severe damage to power networks along with diesel and coal shortages.Supplies of electricity in Guangdong province, the manufacturing hub of China, are predicted to fall short by an estimated 10 GW. In 2011 China was forecast to have a second quarter electrical power deficit of 44.85 - 49.85 GW.
China experienced severe energy shortages towards the end of 2005 and again in early 2008.
Supplies of electricity in Guangdong province, the manufacturing hub of China, are predicted to fall short by an estimated 10 GW.
In 2011 China had a second qua
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