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Renewable Energy: Economic and Health Benefits
The United States of America is heavily dependent on fossil fuels. Fossil fuels are carbon-based fuels that are extracted from the remains of ancient plants and animal matter. Examples of fossil fuels are: 1) crude oil; 2) coal; and 3) natural gas. It is high time to consider the adoption of renewable sources of energy, because crude oil, coal, and natural gas are expensive forms of fuel. The high cost of using fossil fuels is due to the cost of importation. At the same time, the economy takes a hit because of indirect expenses related to health problems due to pollution. It is in the best interest of the United States to move aggressively towards the adoption of renewable energy sources.
Economic Concerns
It is in the best interest of the United States to use renewable sources of energy, especially if viewed from an economic standpoint. It is very expensive to use fossil fuels, because Americans have no ready access to vast reserves of crude oil, coal, and natural gas. Consider the following statistics: In 1970 the United States imported 43 percent of its crude oil needs. In the year 2000 the U.S. was forced to import 54 percent of its crude oil requirements. Experts predicted that after the year 2015, the U.S. will have to import as high as 70 percent of its crude oil needs (Langholz 310). It does not require a rocket scientist to understand that imported products are more expensive than commodities that are purchased within the U.S. mainland.
There are several forms of renewable sources of energy. Good examples are those that are derived from using wind and water. Wind turbines capture energy, and transform it into electrical power. The same thing can be said about the power of hydroelectric plants that transform the energy from flowing water into electrical energy. However, the most promising is the use of photo-voltaic cells.
Photo-voltaic cells utilize solar energy from the sun, and convert the same into electrical energy. This technology is nothing new as demonstrated in the proliferation of solar cells in the market. However, an innovative solution is the combined use of solar cells and rechargeable batteries. Thus, photo-voltaic cells convert sunlight directly into electricity (Langholz 310). According to industry sources, the United States currently produces two-thirds of the worlds photo-voltaic cells, and using current estimates, this technology has brought in at least $300 million dollars per year to the U.S. economy. Therefore, the U.S. economy is strengthened by reducing the use of U.S. dollars to buy imported fossil fuels. It is also strengthened by increasing trade dividends through the exportation of photo-voltaic cells.
Health Concerns
Once upon a time when oil reserves seemed limitless, it was cheap and practical to use crude oil, coal, and natural gas. However, as supplies dwindled, it is no longer cheap to use fossil fuels. The added costs of using fossil fuels are oftentimes hidden from view. The indirect cost can be found in the health statistics of hospitals and clinics that treated Americans suffering from the negative impact of pollution.
Climate experts asserted that if 100,000 households shifted to the use of renewable energy for electricity needs, they could help prevent the release of at least 70,000 tons of carbon dioxide into the Earths atmosphere (Langholz 310). The numbers given were based on the computation of carbon dioxide released in a single month. One can just imagine the amount of pollutants that are added in a years time.
According to Dr. John Balmes of the American Lung Association of California, higher smog levels may cause or exacerbate serious health problems, including damage to lung tissue, reduced lung function, asthma, emphysema, bronchitis, and increased hospitalizations for people with respiratory illnesses (Casper 54). The U.S. government saves money from reducing the number of sick people requiring treatment for respiratory problems. The government strengthens the economy when it redirects the savings in order to fund meaningful projects.
When American citizens get sick because of air pollution, economists identified three types of economic loss: 1) cost of illness; 2) loss of production; and 3) loss of human capital (Gurjar 337). When workers and professionals are sick, valuable resources are utilized for treatment. However, their respective companies and communities also suffer because of the loss of production. Projects are delayed, and quotas are not met because workers are not available to produce goods. The most significant loss of all is the loss of human capital, especially if unabated pollution leads to higher mortality rates as a direct result of respiratory diseases.
Conclusion
From the point of view of the U.S. economy it makes great sense to shift from the use of fossil fuels to renewable energy sources. The U.S. economy will be revitalized as billions of dollars in expense money are circulated back into the system. This is possible because there is no need to import expensive fossil fuels. Jobs are also created when investors pour money into the photo-voltaic manufacturing industry. More importantly, the economy is strengthened if the U.S. government reduces the unnecessary use of resources to treat respiratory ailments. The U.S. economy will experience an upgrade if the U.S. government reduces the loss of human capital due to health problems caused by pollution. This is the best time to adopt renewable sources of energy.
Works Cited
Casper, Julie. Fossil Fuels and Pollution: The Future of Air Quality. New York: Facts On File, Inc., 2010. Print.
Gurjar, Bhola. Air Pollution: Health and Environmental Impacts. FL: Taylor & Francis Group, 2010. Print.
Langholz, Jeffrey. You Can Prevent Global Warming and Save Money. MO: Andrews McMeel Publishing, 2013. Print.
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