OPEC is an organization that controls the global economy through its monopoly on oil. If something were to be produced as an alternative to oil, it would eliminate, or at least reduce, the power of this monopoly and allow the global economy to free itself from the most recent concerns of appeasement of the countries of OPEC and allow it to grow and become more productive. These alternatives are up-and-coming, often in the forms of biofuel, but also in reducing the amount of oil that cars consume and even alternative methods of producing oil from such sources as algae. Other forms of renewable energy would be important to nations that rely on imported coal to run their power plants. Solar and wind energies would allow these countries to become self-sufficient, and help their economies grow as well.
With renewable energy comes economic stability. The price fluctuation that most of the world has become used to with the price of oil would cease, since renewable sources only require a steady cost to create and maintain. This is because there is no supply-and-demand issue, the supply of renewable energy will not run out, and the supply will also not be regulated by a third party monopoly. With this increased stability can come much more reliable economic growth since the entire world can rely on the price that they will be charged for transporting goods and services. This stability will evidence itself everywhere that recent price fluctuations have surfaced, from food to airline transportation. In fact, over time, technological advancements will come that will allow renewable sources to be steadily cheaper than anything that we have yet seen. It will allow for production on a much larger scale of things that we have not even imagined yet.
Something that has continually worried oil using countries for decades is the fact that there is only a limited amount of oil in the reserves of the world. At some point in time, there will be no more oil in those places if oil continues to be used. Renewable sources will never have this problem. They will always exist as long as the earth exists, and so they will never run out. If they are used and take the place of oil, they will keep a global economic depression from happening, a depression that would be unimaginably harsher than anything the world has seen to date. If renewable energy is implemented in time, it will avoid this certain catastrophe.
While it is true that the green revolution is mostly driven by hard economics, it also remains true that there are many people out there who are not motivated by economic gains, but rather by the environmental impact of such solutions. In fact, they are the originators and continue to be the inspirers of the movement, and the reason why it even bears the name of "green." These concerns occupy the minds of more and more individuals, and they look for a solution to a truly global problem. These individuals adhere to the green movement because it promises to bring forth an energy source that does not produce CO2 emissions, or does not produce as many CO2 emissions for the purpose of keeping global warming from occurring. While global warming may remain a controversial issue, it is not controversial that these energy sources will release fewer CO2 emissions. In this way, it can take care of the environmentalists' concerns about the environment at the same time that it helps the businessperson and the politician keep a more stable company and economy to benefit the nation.
As a whole, renewable energy sources will benefit the economy by effectively keeping it more stable. They will give it the ability to be independent from the price of oil, and therefore a chance to grow into something that we have been limited in until now. They will give nations autonomy through the fact that each nation will be able to produce its own energy and not rely on others for the continuation of their very existence as a modern country. They are endless, our children's children will be able to use and improve them, an idea that is not in existence with our current dependence on a limited resource. And, as an beneficial side effect, it will take care of the controversy of global warming by giving those who call for change the change they have been calling for. Therefore, many global problems can be taken care of, even while taking care of ourselves.
Philip Risser
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