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Since the turn of the century, one of the most pressing topics has been combating the
depletion of the worlds natural resources. It is evident that the global population explosion
combined with finite resources means the planet cannot sustain ever-increasing levels of
consumption using current models of production [2]. Right now, it is estimated that humanitys
eco-footprintis one and a half times the earths ability to sustainably provide the resources to
meet that level of consumption [3]. This means that soon we will be left on an Earth that doesnt
have enough natural resources for us to live on. By using 30% more resources than the Earth
can replenish each year, [ humanity is] running up an ecological debt of $4 to $4.5 trillion every
year with no sign of stopping in the future [4]. Thus, natural resource depletion would not only
have profound effects on the Earth, but would also disrupt the economies of nations all over the
world. Without these resources, the prices for everyday goods would drastically increase, leading
to rampant inflation and crashing of economies. At this pace, a report done by the World Wildlife
Fund predicts that by 2030, if nothing changes, mankind would need two planets to sustain its
lifestyle [4]. Leaders of countries all over the world have come together to recognize this
problem and find solutions that would create sustainable, efficient energy for the future.
One of the more recent examples of the economic toll caused by an over-reliance on a
finite energy source can be seen in Venezuela. The sizable, South American country relies largely
on revenue from fossil fuel production. For a while this provided relative economic prosperity
for its citizens, as they received government provided health care, fuel and other social benefits.
Unfortunately, with the recent depletion of oil prices, the government quickly ran out of money
and was no longer able to support most of the government benefits that citizens had enjoyed for
so long. This resulted in numerous calamities ranging from food and medicine shortages to
rolling blackouts and civil unrest. The nation itself has declared martial law and the entire system
is on the verge of collapse. Analysts conclude that this is something that could have easily been
prevented with a diversified energy portfolio, or at least a form of energy that wasnt so finite
and sensitive in the market [5].
In addition to the current financial disasters brought upon by a heavy reliance on oil,
many global leaders are recognizing that the luxury of oil is an ephemeral notion. King Abdullah,
the current king of Saudi Arabia has been quoted saying I drive Audis, my son will drive Audis
and his son will ride camels [6]. This is a dual acknowledgement from Saudi Arabia itself (one
of the worlds premier oil producers), of oils finality when it comes to its abundance and
financial integrity.
Studies also show that oil is far from the most environmentally responsible form of
energy. On average there are about 1.8 - 4 major oil spills every year; factoring in the over 80
smaller spills that happen around the globe every year, one could estimate that about 4,500 7,500 tonnes of crude oil is lost per year due to such spills [7]. Oil spills are incredibly hazardous
to the surrounding environment. Such spills release heavy metals such as lead and cadmium
which have been known to be carcinogenic and obstruct cellular life processes within organic
molecules. An estimated 80 million people and countless forms of wildlife are adversely affected
annually by these spills [8].
As shown, societys reliance on oil yields major negative consequences for the future. It
has been recognized as hazardous, unstainable and detrimental across various fields. Thus its
appropriate to generate solutions to the oil problem from numerous perspectives. By relying on
the environmental expertise of a geochemist, the financial acumen of a business major and the
practical machining knowledge of a mechanical engineer, a solid and well-rounded approach can
be reached. As stated in Repko chapter 4, every discipline has a distinct perspective on reality.
By taking advantage of this reality a conclusive solution can easily be found [1].
In order to reach a conclusion a large pool of information needs to be collected. This
plethora of information will provide us with a healthy amount of material that can be used to
direct our research in whichever direction we desire. This information will come from large
databases such as Web of Science, Engineering Village, Academic Search and/or Google Scholar.
Using such a wide variety of databases will allow us to capture facets of the topics from many
different points of view. This is an essential step, because our project is multidisciplinary in
nature, and requires various metrics of thinking. In this assignment alone we need to combine
insights from environmental science, engineering and business. Using a wide variety of
databases will help us accomplish this goal. Additional research can be conducted by
interviewing public figures and citizens, as well as experts, on the issue. Experts could include
engineers working directly with new energy technology, and environmentalists who specialize in
the research of new energy sources and techniques.
Once the pool of information is collected, the team will then classify this information into
multiple parts. This methodology helps add more objectivity into our comparison between types
of alternative energy solutions. The idea is to separate our comparison between various
categories such as efficiency, sustainability, cost, implementation, safety, reliability, and
environmental effects. Afterwords, a scoring metric will be used based on which energy source
scores highest in the most categories to determine which energy source is the most suitable
replacement. Not every analysis can be performed by someone of the same position; categories
like cost, reliability and sustainability will be analyzed by our team member with skills in the
financial sector. Environmental impact and implementation would be handled by the teams
geochemist as they possess knowledge in those skills sets. At the same time safety, efficiency,
and ease of operation could be analyzed by the engineer. Comparing sources through this method
not only ensures that the methods for comparison are thorough enough, but also that the skill sets
and viewpoints of each member are factored into the final decision.
It is important to note, however, that collaborative research of any type has its drawbacks.
Although our methods aim to establish an all-encompassing perspective on the issue, there are
still limitations in our method. Since this collaborative style relies on the cooperation of three or
more parties, it is easy for bias to become a confounding factor. Because each member has a
specific lens through which they would analyze solutions to our problem, a fixation with one
viewpoint over another can limit the individual, or teams, ability to maintain an objective
viewpoint. This can lead to the misrepresentation of data or technology with the intent of
exaggerating a solution's ability, or omitting negative factors. In other words, competition in
research can limit the overall objectivity of our work, or the research from which we draw upon.
For example, if we interview an engineer familiar with geothermal energy sources, we can
expect a degree of bias in his portrayal of the product or method he is wishing to advertise.
However, using a transdisciplinary approach, we can gather important information from several
different perspectives to limit, if not get rid of, bias. Another source that can prove limiting in our
research is that the industry for new energy sources is highly speculative, and based primarily on
statistics. Since the industry is growing and has not yet been fully implemented, a lot of
information on the topic is based on mathematical projections and calculations rather than hard
data. This can skew certain factors, such as the cost and efficiency criteria.
Ultimately, regardless of how speculative the industry is, the information collected could
be useful in resolving our proposed issue. This work is of the utmost importance, as it is an
attempt at mitigating one of the most imminent threats to our livelihood - the energy crisis. Our
research would not only raise awareness of the topic, but also help establish a comparative model
for new energy sources that could be used by other parties in the future. Collaborative research is
an essential part of resolving such complex issues, and we believe our methods would best
accomplish our goals. By pooling our research with that of others, the best solution can be found
with regards to many different criteria, and it can be done faster. And ultimately, integrating
alternative perspectives on the issue at hand will lead to a more objective and well-rounded
solution.
Current research offers several potential alternatives to the hazardous energy sources of
today. These forms of energy production show promise in numerous facets, including the fields
of business, engineering and environmental science.
Geothermal is one such dynamic energy source. Compared to oil, its impact on the
environment is significantly less harsh. Although an open loop geothermal system could lead to
some hard water contamination, a closed looped system doesn't require any outside water and
thus virtually eliminates any type of ground water contamination. Some systems have even been
used as part of a purification process as the high heat generated eliminates a majority of organic
contaminants from the water. [9]. In addition, closed looped systems also prevent the
contamination of the atmosphere through released gasses, although some systems do generate
emissions that generally feature SO2, a compound known for causing cardiovascular and
respiratory problems. However, this pales in comparison to the SO2, NO2, CO, CO2, lead,
cadmium and other trace elements released by the emissions of fossil fuels[10].
Geothermal energy also excels in the department of economic feasibility; its a low cost
energy source and requires no fuel as well as virtually no maintenance to operate. It is reliable,
can add economic diversification to an economy and can help stabilize local energy prices. It is
also profit prone. The GEA estimates that for every dollar invested in geothermal energy about
$2.50 is generated [11]. Looking at the bigger picture, if 400 million dollars were invested in the
technology, 1 billion dollars could potentially be produced.
Lastly, geothermal energy also shows promise with regards to energy generation.
Compared to oil furnaces, the source is 3 to 4 times more efficient [12]. This ultimately means
that much less energy is lost through the entire process. In most mechanisms, heat is the primary
source of energy loss, but geothermal energy has the unique advantage of using heat as the main
vehicle of operation.
Another alternative source is hydrokinetic energy. Hydrokinetic systems utilize the
potential and kinetic energy of waterfalls or waves to power a generator. This source is
renewable, so long as water flow is constant, and generally [more] predictable and unaffected
by weather variability, as compared to alternatives such as wind [13]. From an environmental
perspective, operating hydrokinetic systems is highly beneficial as it produces zero greenhouse
emissions and has minimal maintenance requirements. The only possible fallout is an effect on
marine ecosystems, should hydrokinetic energy be pursued on a larger scale in the ocean over
dams.
From an engineering perspective, the only thing holding this technology back is its
inefficiency compared to widely accepted energy sources. This makes it less desirable to the
average investor. Regardless, research shows the theoretical resource potential for generation
from riverine hydrokinetic resources [alone] in the continental United States is 1,381 TWh/year
[14]. That's nearly a third of the United States increasing annual energy consumption, which
clearly suggests that this is an avenue worth pursuing further. Currently, this technology has
already been implemented in the United States. As of 2011, hydropower produces 7% of the
United States energy, including roughly 68% in WA state [15].
In conclusion, we believe that, with the combination of mechanical engineering, geochemistry and business, research can be done to compare the various methods for solving the
worlds energy crisis, and a viable solution can be obtained. The task of finding the most efficient
source of renewable energy is a daunting one so by taking an interdisciplinary approach, the
issue can be thoroughly examined and the best conclusion can be reached based on the wide
range of information presented. We urge those in power to act because with a finite amount of
natural resources and booming population, the world is running out of time before there are
disastrous consequences.
Works Cited
[1] A. F. Repko, Case studies in interdisciplinary research. Thousand Oaks, CA: Sage
Publications, 2012.
[2] Resource depletion, Econation. [Online]. Available: http://www.econation.co.nz/resourcedepletion/. [Accessed: 08-Jun-2016].
[3] R. Anderson, Resource depletion: Opportunity or looming catastrophe?, BBC News, 12Jun-2012. [Online]. Available: http://www.bbc.com/news/business-16391040. [Accessed: 08Jun-2016].
[4] J. Jowit, World is facing a natural resources crisis worse than financial crunch, The
Guardian, 28-Oct-2008. [Online]. Available:
http://www.theguardian.com/environment/2008/oct/29/climatechange-endangeredhabitats.
[Accessed: 08-Jun-2016].
[5] S. W. Salant, Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to
the World Oil Market, Journal of Political Economy, vol. 84, no. 5, pp. 10791093, 1976.
[6] R. Bell, My Son Will Ride A Camel The Magician of Oz, Oil Peaks, Nukes and Fracking
the World by Liam Scheff, The Robert Scott Bell Show, 18-Jul-2013. [Online]. Available:
http://www.robertscottbell.com/government/my-son-will-ride-a-camel-the-magician-of-oz-oilpeaks-nukes-and-fracking-the-world-by-liam-scheff/. [Accessed: 13-Jun-2016].
[7] R. A. Lyons, J. M. Temple, D. Evans, D. L. Fone, and S. R. Palmer, Acute health effects of
the Sea Empress oil spill, Journal of Epidemiology & Community Health, vol. 53, no. 5, pp.
306310, Jan. 1999.
[8] "Our World in Data." Our World In Data. N.p., n.d. Web. 10 June 2016
[9] National Renewable Energy Laboratory (NREL). 2012. Renewable Electricity Futures Study.
Hand, M.M.; Baldwin, S.; DeMeo, E.; Reilly, J.M.; Mai, T.; Arent, D.; Porro, G.; Meshek, M.;
Sandor, D. eds. 4 vols. NREL/TP-6A20-52409. Golden, CO: National Renewable Energy
Laboratory.
[10] Kagel, A. 2008. The State of Geothermal Technology. Part II: Surface Technology
[11] Consortium, G.H.P., Commonly Asked Questions about an Uncommonly Sound
Technology. 2008.
[12] DuByne, David (November 2015), "Geothermal Energy in Myanmar Securing Electricity
for Eastern Border Development"(PDF), Myanmar Business Today Magazine: 68
[13] Hydrokinetic Energy is Power From Moving Water, Alternative Energy Tutorials.
[Online]. Available: http://www.alternative-energy-tutorials.com/energy-articles/hydrokineticenergy.html. [Accessed: 15-Jun-2016].
[14] Marine and Hydrokinetic Resource Assessment and Characterization, Department of
Energy. [Online]. Available: http://energy.gov/eere/water/marine-and-hydrokinetic-resourceassessment-and-characterization. [Accessed: 15-Jun-2016].
[15] What about Hydrokinetic Power?, Hydrovolts RSS2. [Online]. Available:
http://hydrovolts.com/2011/10/26/what-about-hydrokinetic-power/. [Accessed: 15-Jun-2016].
Reflection
interdisciplinary approaches. As Repko says, the issues of today are becoming more and more
involved it is important in industry to show you are capable of collaborative research.
Bens Reflective Note:
Our project proposes methods of research and solutions to the issue the world is facing of
the global energy crisis. With the rising pollution and depletion of natural resources, we cannot
sustain the current rate and methods of production. Unless we find a solution, the world will face
a global energy crisis, taking tolls on not only the environment, but also the global economy. As
business, mechanical engineering and geology majors, we combined our studies to propose
possible solutions as well as research methods to solve this crisis.
We believe the two most efficient and cost effective solutions for finding alternative
energy sources would be geothermal and hydroelectric energy. Geothermal energy is harnessed
from steam heated by Earths internal temperatures from its inner layers. It provides a better
option than the burning fossil fuels because it can provide more energy while reducing the
amount needed. Hydroelectric energy captures gravitational energy from moving water to
generate electricity. It leaves little to no carbon footprint and is a renewable source of energy.
By taking an interdisciplinary approach, we realized this issue has many different
intricate elements that make it more difficult to solve. From an economic standpoint, it would
take a massive overhaul to get rid of the current system and implement the new one. This would
not only be expensive, but also take a very long time before it would work. Also, scientists would
need to figure out how to harness these alternative sources of energy efficiently. Lastly, all of the
infrastructure would need to be built in order for the alternative energy sources to be used.
The impact of alternative energy is a crucial issue in the accounting world. Many firms
have provided an analysis on the ramifications of not finding new energy sources and the current
cost on the environment by depletion of natural resources. For this reason, I believe this project
will fit into my final portfolio well to provide some background on what accountants can do.