Crisis is a Greek word which means 'decisive moment'. Crisis brings disasters and breakdown in life. Crisis of Energy is one of the major problems in Pakistan. It happens due to the following reasons.
- Misallocation of resources
- Less dams
- Increasing price of oil and etc.
Energy growth measures the economy of country. Larger the energy growth, larger the economy of the country.
Production of energy reflects industrial output, agricultural output, transportation etc. Electricity load shedding in Pakistan is increasing day by day. Many industries are shutting down due this major crisis and due to which number of people living below poverty line is increasing due to unemployment and inflation, both of which are by-products of energy crisis.
Some experts arguing that world is heading towards global energy crisis due to less availability of cheap oil and recommend a decreasing dependency of fossil fuel. This led to the interest in alternate power fuel research such as fuel cell technology, hydrogen fuel, solar energy, tidal energy and wind energy.
To date, only hydroelectricity and nuclear powers are most valuable alternative to fossil fuel. Hydrogen gas is produced at net energy loss from natural gas, which is also expiriencing declining production in North America and elsewhere.
When not produced from natural gas, hydrogen still needs another source of energy to create it, also at a loss during the process.
As the high production cost decreases rate of output, the exports of Pakistan are constantly decreasing. Our trade deficit is increasing which result in unstable economy. Like industry. agriculture is heavily dependant upon electricity and oil. Also our crop production has failed and this has led to another crisis. Increase in prices and availability of oil and natural gas directly effects transport. Severe load shedding, increasing trade deficit, high inflation, unemployment etc are reducing the living standards of people in Pakistan.
