Reasons Why the Goverment Should not Invest in Oil Exploration
Energy is vital in our daily life because it is a basic human need. Almost all human activities require energy. Oil is a non-renewable energy source.
Non-renewable energy comes from sources that will run out or will not beÂ replenished in our lifetimesâor even in many, many lifetimes. (National Geographic Society, 2013). On the other hand, renewable energy, often referred to as clean energy, that comes from natural sources or processes that are constantly replenished. For example, sunlight or wind keep shining and blowing, even if their availability depends on time and weather. (Shinn, n.d.) Over the past few decades, the world’s leading scientists have been working on ways to limit the use of energy from oil. This is because non-renewable energy sources are the primary source of greenhouse gases for most companies worldwide. To achieve the emission reduction goals, they have to switch to renewable energy. I humbly disagree with the government’s decision to invest in oil exploration. In the coming decades, renewable energy sources will continue to grow, replacing fossil fuels because they are more reliable and easier to obtain. The following reasons explain why I disagree with the government’s decision.
Firstly, crude oil is not renewable. Crude oil is made from fossils, which take thousands of years to decompose to produce new oil for use. Eventually, the oil we have now will be exhausted due to its limitation. We will have to wait longer before proceeding with the decomposition process. Decomposition is the process of breaking down dead organic substances into simpler organic or inorganic substances (such as carbon dioxide) through the action of decomposers. (Biology Online, 2021). This chemical or biological process takes longer to complete to obtain the oil. Unlike renewable energy (such as sunlight), it can be got without a complicated process. It is always available to us. It is easier and faster to obtain it. Therefore, investment in oil exploration can benefit temporarily and eventually run out.
Moreover, oil exploration is expensive. Oil exploration is the positioning and drilling of oil and natural gas in a given oil field. (Oil and Gas Field Exploitation – Access Science from McGraw-Hill Education, n.d.). This process requires specially trained and technical personnel as well as machinery. These personnel must be paid large amounts of money, which generates high costs. This is because this process is sometimes hazardous and detrimental to your health. Sometimes if no oil can be found, oil exploration will result in huge losses. This means that the investment may be wasted, and the main reason for the investment may not be realized. In addition, most oil companies are not located in impoverished areas because the demand there is deficient. People in poor areas always complain about the high cost of oil, so they cannot afford it. In Ghana, our primary source of energy is oil. So how do these poor areas get the energy they need for daily activities? Renewable energy is cheaper, and it is available at any time and everywhere. The government should invest in renewable energy because it can be supplemented and needs a little money to maintain the used equipment.
Last, oil exploration and the use of oil products can cause damage to the environment and individuals. Study has shown that oil exploration had increased the rate of environmental degradation. Environmental degradation is the process by which the natural environment is destroyed. (Environmental Degradation, n.d.). Due to the death of fish and crops and the possible destruction of arable land and fishing activities leading to loss of livelihoods, oil and gas exploration has increased food insecurity. The seismic technology used to detect oil on the seafloor can be harmful to fish and marine mammals. The use of gasoline, light oil, kerosene, and fuel oil releases harmful toxins, such as methane, benzene, and butane, and can also increase greenhouse effects and damage the environment. At several oil exploration companies, employees using oil storage tanks have the highest risk of exposure to toxins and chemicals. Renewable energy is natural and does not require a process that produces toxins that can harm humans and other organisms.
In conclusion, the above reasons are why most investors switch from oil exploration to investing in renewable energy because it is less harmful, more reliable, easier to obtain, and can be replenished after use. (Is It Good to Invest in Renewable Energy  | Greenesa, n.d.) Therefore, the government’s investment in oil exploration will be a waste of money. When the oil runs out, it will also cause national losses, and the toxins produced by oil will harm citizens and lead to loss of life. Renewable energy sources are less harmful, reliable, accessible, and can be replenished after use. Therefore, investing in it by the government can avoid land degradation and risk to life, providing many benefits such as low cost of energy, a lifetime energy source. It would promote proper growth and development of the country Ghana because more money can be saved and used for other development projects.
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