Reference no: EM132196038

Locating the best resources for the worlds growing energy crisis has been a tedious task for many businesses and governments. One of the many new sources of energy is Geothermal energy this is energy that, beneath the earth's surface is naturally occurring hear, created by volcanic activity millions of years ago." (Dale, 2015) Holes are drilled into the earth releasing steam which is then used to power turbines and create electricity. The major environmental drawback is the steam beneath the surface is constant the pumps are small, and the drilling can be time to consume and expensive.

Additionally, there is potential to tapping into toxic chemicals and contaminating the surface drinking water. (Williamson, 2011)This poses a significant risk to people and animals that depend on the surface ground water for hydration.

As with any other good that is produced companies and government officials must always ensure the demand of a product is great before they pull any resources into it. Unfortunately, in the case of geothermal energy, the demand is very high as we look for alternate energy sources. however, the supply is minimal as we have to contend with, "limited access, political conflict, and the cost of harvesting the energy." (Dale, 2015) Large-scale optimization of geothermal energy is limited by economic challenges as well.

Economic challenges seem to be a more prominent issue with using geothermal energy. In 2006 a, "Massachusettes Institute of Technology research panel published a report asserting that given adequate funding 100,000 MW electric geothermal could be developed within 50 years." This report was very promising, and in 2008 the U.S. Department of Energy Geothermal Program (GTP) was formed and awarded more than $43 million for geothermal exploration and development. (Williamson, 2011) With the mass amount of money poured into the research and development we can have geothermal energy for long-term use.

References

Dale, L. (2015). Environmental Policies (second ed.). Bridgepoint Education LLC,.

Williamson, J. (2011). The future of U.S geothermal development: Alternative energy or a green pipe dream. Texas Journal of Oil, Gas and Energy Law, 7, 2-26.