
Increase in oil prices causes a lot of chain reaction, which can be good and bad. As negative impacts of this is apparent, I will explore the positive effects(especially points linked to the UK and Malaysia).
1. Governments are putting more money in R&D for alternative energy sources – in terms of technology, efficiency and delivery. More efficient closed cycle gas turbine power plants(although more expensive), is more viable now. Hence, for the same amount of gas, more electricity is produced.
2. Governments and people have a more positive attitude towards nuclear power. Costs are high, but more justifiable now. Nuclear is clean, reliable and safe(if right measures are taken). However, proper disposal of waste is necessary.
3. Carbon storage technologies are being developed.
4. Less driving(as fuel cost more) – less congestion and less pollution. Also, people are encouraged to car-pull(a campaign that the Malaysian government aspired to achieve long time ago, but is kicking off as petrol prices went up).
5. With more people using public transport, more revenue generated can be used to improvise the system. Besides that, carbon footprint of individuals using public transport is less.
6. Emissions trading scheme can kick off – more interest from many parties. This should be extended to other parts of the world.
7. Locally produced goods consumed locally – better than transporting from other countries as transportation cost increase(reducing carbon footprint) – encouraging more self-produced good which leads to self sustainability.
8. More efficient planning of trips/journeys – to avoid unnecessary fuel usage.
9. More time spent at home with family-better family bond. Also, more time to do things like reading, rather than going out and ‘lepaking’ in mamak shops(as prices of everything has gone up) – cheaper to eat at home.
10. More cyclist are encouraged to hit the road with their bicycles. The UK government has shown a good example by creating cycling lanes in Bristol and making it more cyclist-friendly.
11. Demand for more energy efficient appliances has driven more innovation in electronic goods.
12. People are encouraged to save more these days – even interest rates are more attractive now.
13. The cheaper option of electric cars in the UK(exempt from congestion charges and parking) might increase the demand for them. Although, this defeats the purpose of congestion relief, it also encourages people to plan their routes and travel smartly because the batteries do not last long.