This company is a constituent of the energy sector. The growth of the emerging economies coupled with the exponential demand for consumer electronics in the developed world has generated an unprecedented increase in the global appetite for power. This wave has not ebbed one iota in recent years. Energy demand keeps going up as people seek the convenience offered by electrical appliances. The US Energy Information Administration predicts that global energy demand will shoot up by 44% by the year 2030.
Much of the energy produced worldwide comes from oil and gas, with coal still playing an important role. Modern equipment allows oil companies to either explore unconventional resources such as oil sands or drill deeper into the ground in the deepest parts of the oceans.
The energy industry is often front and centre in the political headlines, with major oil corporations locking horns with governments over a variety of issues ranging from human rights to the environment to the price of petrol.
Nuclear energy, while heavily criticised by some, remains a major source of electricity. Its use is, if anything, increasing and has been helping some markets to reduce their carbon footprint and become less dependent on oil and gas supplies. Despite this some nations have banned or are planning to ban nuclear power plants altogether.
The finite amounts of oil and gas supplies available mean big energy companies must invest more money to research alternative sources of power. Over the past decade or so, the nascent green energy industry has held out the prospect of a revolution in the energy sector. Wind and solar sources are powering ahead, especially when compared to other alternative energy sectors like tidal and wave.
Watch this space: The industrial sector is the energy industry’s main client, consuming about 50% of energy produced worldwide. Consequently, economic growth across the large BRIC economies (Brazil, Russia, India and China) is likely to have a major impact on energy demand going forwards.
