Abstract

OPEC and Alternative Energy: To start, we researched the origins and purpose of the Organization of the Petroleum Exporting Countries (OPEC), while also investigating the feasibility of various forms of alternative energy with the goal of predicting the future of traditional and alternative energy sources. We began this project with the goal of answering questions including, how do emerging alternative energy sources impact OPEC and other more traditional sources? What is the role of alternative energy in our future, compared to more traditional forms? What are the financial and political implications of traditional OPEC-based energy sources versus the new alternatives? We feel this work is significant because the extraction and burning of coal and oil are wreaking havoc on the environment at an unsustainable rate. Our world is continuing to feel the effects of climate change from this pollution, so finding viable forms of alternative energy is becoming increasingly important. Pros and cons of both traditional and alternative energy sources were thoroughly researched and the energy forms ranked accordingly. The factors that we considered were cost, efficiency, ease of use, safety, and environmental impact. Based on our findings, we found that wind and solar energy are the most promising alternative sources of power to eventually replace more traditional forms like coal and oil.