Question

PLEASE HELP!! URGENT!!! With the arrival of the Industrial Revolution, machines became the main source of power for manufacturing and transportation. These machines were mostly dependent on fossil fuels—oil and coal. The world’s economy shifted from an agrarian-based economy to an oil-based economy. Today many people believe the world needs to shift again from an oil-based economy to a clean-energy economy. Just as the move from an agrarian-based economy to an oil-based economy created a destabilizing effect on the poor and working class, how might the shift to a clean-energy economy affect today’s poor and working class? How will the shift affect less-developed nations in comparison to more-developed nations?

Answer 1

Clean Energy is rather hurting the economy since the transition from fossil fuel to renewable energy is hurting industries that have thrived on fossil fuels and is hurting the economy. It will hurt less-developed nations since the transition from fossil fuels to renewable energy is costly and expensive to produce. MDC will have a regression in economy for 2-5 years depending on the factor as companies thriving on fossil fuels will soon go bankrupt and file chapter 11 liquidity bankruptcy, this causes a whole breakdown of the economy.