In my last post Resource Depletion and Green Economics I have mention how the human race is depleting the environmental resources and ruining the eco-system. But the awareness is been developing since last two decade, and the concept of sustenance of natural and environmental resources are introduced. Developed countries are finding alternative resources of the energy so that the dependence on oil and other carbon emitting fuels like coal which is considered to be the major contributing factor of global warming according to the Intergovernmental Panel on Climate Change and dependence on nuclear energy (Sometimes, this less comprehensive meaning of "alternative energy" excludes nuclear energy as defined in the Michigan Next Energy Authority Act of 2002) can be reduced.
Against conventional resources the alternative resources of energy are given the name of Clean Energy Resources. These clean energy resources will not only help to protect the eco-sys but they will also create new jobs. Against energy resources like fossil fuels there are many other clean resources of energy like water, wind and solar energy. Renewable energy sources such as biomass are sometimes regarded as an alternative to ecologically harmful fossil fuels. Renewables are not inherently alternative energies for this purpose. For example, the Netherlands, once leader in use of palm oil as a biofuel, has suspended all subsidies for palm oil due to the scientific evidence that their use "may sometimes create more environmental harm than fossil fuels.
For instance U.S president is promoting the efforts to build new energy alternatives of conventional energy resources which will reduce the U.S’s dependence on foreign oil, reduce the import bill and will create jobs. A new type of solar plant is being built in U.S that promises to provide clean energy for as many as 140,000 homes. The new type of solar power plant will be built in western state of California and will be called ‘Bright Source’. It will also provide jobs for 1000 people.
Now if we take the developing world the biggest problem is the shortage of energy. For instance in Pakistan the Alternative Energy Development Board (AEDB) is inaugurated. AEDB is working on but energy shortfall in the country has reached to 5000 MW. The government should take immediate steps to control this demand supply imbalance. New Water reservoirs should be created because it is a do or die situation for an agri based economy whose water reservoirs are diminishing. Alternative energy project should be encouraged in the developing world and the developed world should come forward and invest in clean energy projects.
