Global Financial Crisis Essay

The orbiculate Financial Crisis can be studied from many different perspectives. Most of the consequences atomic number 18 already existence analyzed, and even though vernal events may still take identify these consequences make water impacted, and if not yet detected, they will impact our Society, our Culture, old and new technologies, the commercial and industrial sector and over all our value systems and ethical standards. Global warming is the major subject atomic number 18a that would impact Technology, Society and Culture and have an important effect upon our ethics.Most of us expected a striking reaction from the biggest rescue in the world because the level of consciousness almost global warming, had motivated many politicians to act upon it, the financial sector was already in a position to invest in it, and many industrial sectors had make the decision to participate in what could have been called The Green lark. It took a great war, and all the military industr ies that fed the carnage, to bring the States out of the Depression. But to a surprising degree, the world economy has been go the strength of its hottest sectors ever since.By the 1990s, it was the rise of the Internet and the network economy, which collapsed in the dotcom bubble and gave way to housing and the financing that paid for it. In all(prenominal) of these recent cases it was the market that discovered and promoted a new engine for suppurationcreating one mil social lion millions of jobs and trillions in profits worldwide. Between 1996 and 2000, the technology sector created 1. 6 million new jobs, according to Moodys Economy. comroughly 14 per centum of new U. S. job growth. In this decade, the financial sector accounted for a lions share of U. S. corporate profit, while housing accounted for a reel 40 percent of new U.S. job growth. Now, those two stalled drivers are leadership offerrs of unemployment Goldman Sachs, the royal house of finance, announced a 10 perc ent ply cut last week. The world, simply put, needs a new sparing driver, a new hot growth perseverance. A lot of notes are being invested in the kelvin technology activities like in its run across into and development, even though the fossil oil prices are reducing and the scotch crisis seems to take longer than expected. Whether such investment measures will yield the anticipate success is not a subject that can be experimentally tested.A number of business organizations have been reported to have made huge investments in the green technology, even though there seems to be minimal improvements. As the current stintingal crisis demand numerous investments to hand over the economy, concerns are being raised on the resources which are being dedicate at rescuing the environment. These concerns are raised while considering the fact that the continued economic crisis could divert the attention of the organizations and the governments in sustaining effective green technol ogies.Some of the efforts which are being made by the business organizations and the governments include the trade in the carbon market, which anticipates to reduce the carbon emissions. On the other hand, the governments are religious offering stimulus packages for offering support to the financial institutions, which have promoted the carbon work investments. In a number of occasions, the policies which seek to achieve a sustainable environment seem to take a back seat, when the global economy experiences financial difficulties.International organizations like the United Nations are devising strategies, which seek to reduce the level of carbon emissions through the utilization of the renewable sources of nada. This research paper will make an analysis of the green technologies and its impact on the global economy. A number of benefits of the green technology has been analyzed, besides the measures that the discordant governments and organizations are taking in reacting to sus tain the environment. Going green and dodo fuelIn the 1990s fogy fuels accounted for 85% of the U. S free energy use, and today dodo fuels are still the prime movers of industrial life. (Griffin, PG. 2) Although fossil fuels have contributed to global warming the U. S has continued to use it, because of its moth-eaten availability however, in the recent age it has become merelyr and more than than expensive. (Griffin, PG. 2) In the 1990s the U. S oil supply climbed to 17 million put a day however with domestic oil declining the U.S has opted to at a time import roughly 50% of its crude oil & petroleum. (Griffin, PG. 2) As the war continues between the U. S and Iraq the price of oil will continue to rise, and the U. S may need to look into alternative energy. Although the U. S has always had the outlay source to burn through resources such as oil and fossil fuels the current economic crisis is an opportunity for the U. S to become more green and learn that alternative ene rgy can be more affordable in the long run and definitely safer on our environment.Every economic crisis brings opportunities for the U. S to get out of their comfort zone and really do something to move the U. S forward. Alternative energy will be more affordable and will help during the economic crisis. The U. Ss dependence on oil imports has been a concern for years, and now with the economy in bad shape the U. S can take the opportunity to look into go towards alternative energy. Unlike oil & fossil fuels solar energy, ramble energy, and hydropower energy are reusable and will not bring an issue of scarceness.One of the issues with our current use of oils & fossil fuels is that they have become scarce and therefore, a concern arises with the U. S dependency. Reusable energy will evanesce that threat and the bell benefits in the long run will improve. We do not need to buy sun power to use solar energy, nor do we need to buy the air to get wind energy. The cost to switch to these new systems may be expensive to start, but the upkeep will be more cost efficient than importing oil at the amounts we do and at the current cost. (FT Business, PG.1) locomote is a favor sub-sector in the BlackRock portfolio because it is affordable, low carbon, and scalable power generation technology of choice. (FT Business, PG. 1) Wind accounts for the largest share of new generation capacity installed in the US and atomic number 63 in 2007, respectively at 30% and 40%. (FT Business, PG. 1) Ed Guinness co-manages Guinness plus Managements Dublin-domiciled says it is not only the cost of fuel that is driving force up electricity prices, but also increases in the raw materials necessary for construction.(FT Business, PG. 1) He also stated that prices of oil, gas and coal are all increasing tremendously and so are the construction costs of power plants, stating it now costs twice as much to make electricity from new-build gas turbines than it did one year ago fashionin g wind and solar energy highly competitive. (FT Business, PG. 1) With that said it is now in the times of economic struggles that America should make change that will be benefited in the years to come.Some manufacturers, such as, agriculture, food processing, metal refining, paper manufacturing and the chemical industry have switched to alternative energy to join the Green campaign that has been moving through the world for years. (Katz, PG. 16) The main alternative energy the manufacturing applications have utilise is electricity and thermal energy. (Katz, PG. 16) James Lee, an associate professor in the Golisano set up for Sustainability at the Rochester Institute of Technology, stated that manufacturing companies are working in some(prenominal) of these areas to reduce consumption and expand the use of alternatives to fossil fuel.Many manufacturers are investing in combined heat and power (CHP) systems that produce both(prenominal) electricity and heat for their manufacturing processes. CHP systems increase energy efficiency by making better use of the energy. Using a CHP system also enables companies to produce electricity directly from alternative fuel sources such as biofuels, total heat and solid municipal waste. (Katz, PG. 16) Unlike Solar and wind energy, thermal energy is not really a natural resource, but still more cost efficient and less risky to be dependent on than oil & fossil fuels.