Wednesday, May 15, 2019

The GDP per unit of energy use Essay Example | Topics and Well Written Essays - 1250 words

The gross domestic product per building block of energy use - Essay Example fit in to Pimentel (2013), data from inhabited and industrialized nations like mainland China and India will serve the purpose of substantiating the relationship between the variables mentioned above. In this case, stage three of the termination paper involves a comprehensive literature review that seeks to acquire relevant information about the key hypothesis. Literature Review Introduction Since the paper seeks to examine nations economies from the perspective of interior(prenominal) product and energy consumption, and so it is inherent to clarify certain terminologies and abbreviations that will be used extensively in the essay. First, gross domestic product, commonly referred to as GDP, remains one of the essential indicators of a nations economic status. According to Meyers (2010), GDP is the cumulative monetary value of all goods and operate produced and offered by a nations population over a per iod of one year. Secondly, energy intensity is a terminology referring to might of energy use within a given over economic setting. The intensity is obtained by determining the circumscribe between total energy consumption and the total gross domestic product. ... rding energy intensity within a nation are gaining attention after World Bank projected that by 2050, the human beingss fossil fuels will have reduced by approximately 35%. According to Mely and Chang (2012), such(prenominal) prediction insinuates that reduction in fossil fuels will create a subsequent increase in demand for the same commodity. Consequently, nations whose economy is energy dependent may experience diverse difficulties in adjusting to the probatory drop in fuel content across the world. In this context, it is undeniable that third world nations in Africa relies more on agriculture and tourism as the main source of their gross domestic product. However, thickly settled and industrialized countries lik e China and India rely on manufactured exports and skilled services. Bosselman (2010) says that in China, industries and skilled services like road constructions are known to consume a lot of energy. GDP per Unit of capability Despite the fact that manufacturing and service industries in China and India generating huge economic output from both given energy unit, they still face a threat with regard to diminishing oil reserves. For example in 2005, China yielded a GDP of 3.7 for every kilogram of oil consumed. India yielded a slightly higher GDP of 5.3 for the same mass of oil consumed. On the contrary, the adjacent Republic of Hong Kong posted a GDP of 21.2 for every kilogram of oil used within the same period. Switzerland, which is known to being a less populous nation than India, posted a GDP of 12.3. Based on these figures, one can develop an perceptivity on the energy efficiency within the four nations compared above. From the figure of 3.7 GDP per kilogram of oil consumed, accordingly it is undeniable that China has lower energy efficiency. On the other hand, Hong Kong can manage to

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