Scarcity of Nonrenewable Sources of Energy: Social, Economic, Environmental and Ethical Elements

Running head: BUSINESS ETHICS
Business ethics
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1BUSINESS ETHICS
Introduction
In the recent time, one of the major sustainability issues being emerged in the global
scenario is the scarcity of the non renewable sources of energy. This can be treated as a
sustainability issue due to the reason that non renewable sources of energy are limited in nature
and it is fast depleting (Weinstein, Turner and Ibanez 2013). Thus, the availability for the future
generation is a major concern. However, it is also to be noted that there are number of other
issues from the perspective of social, economic, environmental and ethical contexts can also get
emerged.
This essay will discuss about the social, economical, environmental and ethical elements
of the identified sustainability issue. In addition, this essay will also discuss about the major
ethical problems associated with the identified issue and will be evaluated with the help of
ethical theories. The impact of the identified issue on the business will also be discussed along
with discussing an effective solution that can help in overcoming the issue.
Environmental elements
The identified ethical issue of scarcity of nonrenewable sources of energy is having major
environmental elements involved. Nonrenewable energy sources are mainly the fossil fuels and
burning of the fossil fuel is the major sources of degradation of environment in the recent time.
Using of nonrenewable sources of energy is causing air pollution in the form of emission, water
pollution in the form of wastage (Shafiei and Salim 2014). On the other hand, rapid exploitation
of the fossil fuels is enhancing the risk of change in ecosystem and biodiversity. Thus, it can be
concluded that using of nonrenewable sources of energy is not only depleting the available
resources but also degrading the environment also.

2BUSINESS ETHICS
Social elements
There are number of social elements also being involved and associated with the
identified global sustainability issue. One of the major social elements involved with the issue of
scarcity of nonrenewable sources of energy is global population. The major impact for the
scarcity of nonrenewable sources of energy is faced by the average population. This is due to the
reason that the scarcer will be the energy sources, the more will be price of the fuels. This will
cause more cost for the population (Capellan-Perez et al. 2014). It is also to be noted that price of
every consumer goods are determined by the fuel price. Thus, increase in the price for fossil
fuels will cost more for the population in their daily living.
Another major social element in relation to the scarcity of the nonrenewable sources of
energy is conflict. This is due to the reason that in the current global scenario, fossil fuel is one
of the most valuable factors for every stakeholder. However, the sources for energy resources are
not equal in every location rather some regions are having more resources over others. This is
leading to the emergence of conflict among different social groups (Mansson 2014). The more
will be the demand for the nonrenewable source of energy, the more will be the price that will
lead to the increase in the probability of social conflict.
The future generation will also be one of the most affected social elements due to the
issue of scarcity of nonrenewable source of energy. This is due to the reason that source of
nonrenewable energy is limited in nature and it cannot be replenished. Thus if the demand for
nonrenewable source of energy continues to increase without having any alternate option, then it
is highly likely that future generation will not have enough resources and they will face more
scarcity compared to present time.