Abstract
With the rapid growth of population and increase in energy demand, there is a high demand for fossil fuels to meet the supply needs. In this research, the decreasing impact of fossil fuels reserves to the production ratio (R/P) is studied using the system dynamics approach of modelling. A total of 3 dimensions, namely, availability of energy, socio-economy, and environmental sustainability, was studied with their relevant indicators. Three causal loop diagrams (CLDs) were combined to form one final CLD, followed by converting the CLD to a stock and flow diagram (SFD). The SFD is simulated to draw the significant findings of this research. The decreasing reserves of fossil fuels can threaten the economic growth subsequently the nation’s social well-being. Per this, it is vital to understand how energy security is impaired if such a scenario arises. The simulation results suggest that there will be a decrease in energy consumption, growth in economic health, and energy intensity due to a decrease in the R/P ratio. Energy efficiency seems to improve due to more careful use of lower supply in this scenario; however, it is not an indication of improved technological applicability or energy-efficient technologies. Energy policies such as the national depletion policy need to be curated to control the current usage of fossil fuels and introduce renewable energy sources faster to the energy mix to reduce dependency on fossil fuels.
| Original language | English |
|---|---|
| Title of host publication | Enabling Industry 4.0 through Advances in Manufacturing and Materials - Selected Articles from iM3F 2021 |
| Editors | Amiril Sahab Abdul Sani, Muhammed Nafis Osman Zahid, Mohamad Rusydi Mohamad Yasin, Siti Zubaidah Ismail, Mohd Zairulnizam Mohd Zawawi, Ahmad Rosli Abdul Manaf, Siti Nadiah Mohd Saffe, Radhiyah Abd Aziz, Faiz Mohd Turan |
| Publisher | Springer Science and Business Media Deutschland GmbH |
| Pages | 373-383 |
| Number of pages | 11 |
| ISBN (Print) | 9789811928895 |
| DOIs | |
| Publication status | Published - 2022 |
| Event | Innovative Manufacturing, Mechatronics and Materials Forum, iM3F 2021 - Virtual, Online Duration: 20 Sept 2021 → 20 Sept 2021 |
Publication series
| Name | Lecture Notes in Mechanical Engineering |
|---|---|
| ISSN (Print) | 2195-4356 |
| ISSN (Electronic) | 2195-4364 |
Conference
| Conference | Innovative Manufacturing, Mechatronics and Materials Forum, iM3F 2021 |
|---|---|
| City | Virtual, Online |
| Period | 20/09/21 → 20/09/21 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 7 Affordable and Clean Energy
Keywords
- Energy policy
- Energy reserves
- Energy security
- Environmental sustainability
- Socio-economy
- System dynamics
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