Essay About Impact Of Renewable Growth And Crude Price

Impact of Renewable Growth on Oil and Gas Markets
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Assignment: Impact of renewable growth on oil and gas marketsName-Ayush TripathiRoll no-88Whenever there is variation in the crude price renewable energy is the topic we start talking about. When fuel price raised to triple digits in 2014 everyone questioned about the sustainability of crude and everyone thought that these prices are there to stay of course everyone has their reasons for their statements but these prices collapsed in less than a year and from that time it has stayed low and we don’t know for how long. Crude availability and sustainability has been in question for many years now and renewables are coming into play and taken seriously now days by most of the counties. New regulation are made to protect the environment which is the core issue that everyone is looking at renewable because everyone wants to move towards a greener and cleaner energy. When the crude prices were high it should have been an opportunity for renewable to cash in but of course it’s not easy to change the market in such a short period of time. In fact, global clean-energy investments increased 17 percent in 2014, reaching $270 billion, reversing two years of declines. While government-policy support remains crucial, renewable companies also did well raising money in the markets; equity investment rose 54 percent in 2014. The renewable gave a huge boost with a total of 164 gigawatt installed worldwide which is triple to that of gas based plants and double of coal based power plants hence we can say renewable are now moving in the right direction even though the crude prices are low. The move has come as expanded government endeavours to control environmental change and exhaust cloud have driven down expenses and impelled specialized advances, making an efficient power vitality industry that looks not at all as it did 10 years prior: costly, slow and German. Today, China and India have grabbed the mallet and are driving a division that has spread to each mainland. The outcome was a standard year for efficient power vitality in 2016. These advances have turned out to be excessively critical for the oil and gas industry to disregard. In the initial three months of this current year, the leaders of a portion of the worlds biggest oil organizations have discussed a “worldwide change” (Saudi Aramco) that is “relentless” (Royal Dutch Shell) and “reshaping the vitality business” (Statoil). Isabelle Kocher, CEO of French power and gas aggregate Engie, calls it another “modern insurgency” that will “achieve a significant change in the way we carry on”.