Energy Market

Description

In physics and other sciences, energy (from the Greek energos, "active, working") is a scalar physical quantity that is a property of objects and systems which is conserved by nature. Energy is often defined as the ability to do work. In this context, we well regard energy market as trading of different types of fuel that can be used to produce energy, such as fossil fuel, natural gas nuclear power etc, as well as trading with electricity, and various ways of producing it.
Energy has a huge impact on society as a whole, as well as on the economic world. Electricity is irreplaceable part in our everyday life. It can be produced using different types of fuel: fossil fuel, nuclear power and renewable sources. Fossil fuels have multiple use ranging from fueling various motors to heating. Lately, there is a growing concern on the effect of the extensive use fossil and nuclear power on the human environment. There is a growing trend to use renewable energy sources such as solar power, wind, hydro-power plants, hydrogen, bio-fuel, geothermal energy etc. This could change the entire energy market as we know it today.

Enablers

• Technological advances
• New energy sources

Inhibitors

• Politics
• War
• Natural disasters

Paradigms

• Traditional:fossil and nuclear power
• Environmentalist: Renewable sources and green power

Timing

• Prehistoric: Invention of fire
• Ancient Greek era:Hydro-power
• 1300: Windmills
• 1776: Watt steam engine: James Watt
• 1846: Refining Kerosene
• 1860: Solar motor
• 1888: Three phase electric power
• 1943: Nuclear fision