Allow Crude Oil to Die a Natural Death

Azubuike Hope Amadi; Victor Damilare Ola; John O. Ayoola; Paul Obinna Okafor; Prosper Oghenegare Umukoro; Chinenye G. Ezechi

doi:10.31695/IJASRE.2022.8.5.9

Authors

Azubuike Hope Amadi Universiti Teknologi PETRONAS, Malaysia https://orcid.org/0000-0002-7878-2749
Victor Damilare Ola Emerald Energy Institute, University of Portharcourt
John O. Ayoola World Bank Africa Centre of Excellence in Oilfield Chemical Research, University of Portharcourt
Paul Obinna Okafor Institute of Petroleum Studies, University of Portharcourt https://orcid.org/0000-0002-6399-1601
Prosper Oghenegare Umukoro Institute of Petroleum Studies, University of Portharcourt https://orcid.org/0000-0002-1074-560X
Chinenye G. Ezechi Trexm Oil and Gas Nig. Ltd https://orcid.org/0000-0002-0821-624X

DOI:

https://doi.org/10.31695/IJASRE.2022.8.5.9

Keywords:

Fossil fuel, Pipeline Vandalism, Oil Price, Climate change, Renewable energy, Energy Transition

Abstract

The sudden calls for the end of fossil fuel production as a source of energy inspired this research. This study attempts to understand if these calls are due to “cartelization by political bodies” as described by Libecap, in 1972, promotion of self-benefits, or genuine calls based on disastrous impacts of global warming and general climate changes. Alternative energy sources and their present sustainability will be examined, policies affecting fossil fuels over time will be identified, the effects of these global and national policies, the politics behind calls and perspectives from various continents will be discussed, the lowest and highest GHG emitters will be identified, and recommendations will be made on the best course of action based on reviews and findings from around the world. Furthermore, this study understands that the world is a global village and considered the effect of climate change as a global challenge, however, its arguments and suggestion were made by critical analysis of the causation, major beneficiaries of policies, effects on countries dependent on fossil fuels, responses towards the effect of emission, and impact of climate change.

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Allow Crude Oil to Die a Natural Death

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