Over the years, companies across industries have strategized and amended business operations to become more sustainable and ethically sound, particularly businesses in the energy sector. For the past seven months, oil prices have been on a continuous downward spiral, and financial analysts are finding it difficult to determine what exactly is causing this. One factor could be the need for sustainable solutions for energy.
In 2014, the demand for renewable energy, natural energy and gas increased. For the United States, the more strategies that were implemented for producing sustainable energy, prices of oil continued to fall. The demand for clean energy is at an all-time high. In reference to the 2015 Factbook, president of the Business Council for Sustainable Energy explained that America is clearly on a path of providing sustainable means to energy. Onshore production has increased in the mainland due to the low energy costs and the introduction of new gas infrastructure to an online platform.
Even war-torn countries are looking for more ways to be more sustainable with their energy. Take a look at Iraq.
Southern Iraq has be known to house some of the world’s most oil-rich fields, however the turbulent economy, war, as well as political unrest have put a halt on oil and gas exports. The Tunis Times declared that, “ for what was once the second largest exporter of oil globally, Irag was thrown into disarray wondering how it could regain its footing in the world’s oil trading market.” But when insurgents left Rumaila in 2014, companies saw an opportunity for growth. Sulzer, an oil company widely known to provide sustainable solutions for production, revealed its new partnership with UnaOil. Here, efficiency will be at a “single point solution,” and workers will respond to repairs and carry out maintenance services. Secured accommodations will also be found onsite.
Other nations also are seeking sustainable methods for clean energy. According to Business and Leadership, the use of renewable energy in Ireland has grown rapidly over the years. The amount invested in wind energy alone shows promise for more sustainable practices. In order to meet their targets renewable energy-generated electricity, 350MW of wind generation must be installed every year until 2020, and Ireland progressively reduces its carbon footprint.
All these steps toward environmentally friendly and productive approaches demonstrate that sustainability is always going to be a factor in success, for companies as well as the economy.
Our writers come from all over the world, but one thing unites them - their passion for sustainability.