Contents

• Introduction 2
• Aims and Objectives 3
• Background and Historical Perspective 3
• Current Situation Analysis 4
• Problem Statement 6
• Potential Options 6
• Evaluation Criteria 6
• Evaluation of Options 7
• Recommendations 8
• Plan Forward 8
• Conclusion 8
• References 8

Description

Rapid hikes in oil price and political unrest threatening oil supply could potentially develop into an oil crisis (price shock and potential supply disruptions) in the near future given UK’s dependence on foreign oil. There is a need to reduce this dependence on oil imports through a systematic investment plan in renewables, nuclear energy and natural gas since these are the most ecologically and economically feasible along with being sustainable and scalable. However, since this would be a medium to long term solution to the oil crisis, UK may as an immediate measure initiate aid policies for the needy to help tide them over the crisis. Given the legacy of the US sub prime financial crisis, the Government investments are likely to be limited at this point in time. Therefore private individuals and organizations can be incentivized to develop and implement new technologies in the renewables field.