Why the World Needs More Energy Management Executives
The increasing demand for energy is increasing the demand for energy managers.
Modern life wouldn’t be possible without the production of energy. Everything from our transportation systems to our manufacturing capabilities to our information technology networks depend on a steady, reliable supply of energy. But our rapidly modernizing world is placing new demands on energy production and supply. That’s why, more than ever, we need skilled people to help manage our energy.
“Energy consultants and energy managers guide the production and distribution of energy. The delivery and transfer of energy crosses geographical distances, country boundaries, and regulatory processes. Energy management is necessary to create innovative ways for production, delivery, and support (protection) of the infrastructures,” said Dr. Fred Walker, associate director of Walden University’s Doctor of Business Administration (DBA) program. Energy consultants and energy managers can help us prepare for:
According to a report from the U.S. Energy Information Administration (EIA), world energy demand is expected to increase 28% by 2040.*Most of that increase will come from developing nations, due to economic growth*. While this economic growth is great for the people of developing nations, the direct correlation between higher standards of living and higher energy consumption means that energy managers will need to work with private companies, public utilities, and government bodies to ensure the rising demands can be met.
The energy market can be volatile. In particular, crude oil prices are prone to significant fluctuations. In the last decade, prices have ranged from nearly $140 a barrel to just over $20 a barrel.† Because much of the world’s oil is located in unstable regions and/or undemocratic nations, this volatility is likely to continue as producers open up and close off the supply of oil for political and/or conflict-based reasons—and as markets around the world speculate, sometimes wildly, on future prices.
While petroleum is not the only source of energy, it is the largest source of the world’s energy, and the EIA report expects it to remain so for the foreseeable future. Adding to market stresses is the fact that our other main energy sources (natural gas and coal) are, like petroleum, a limited resource. In total, almost 80% of the world energy supply comes from these limited resources*. The more we use them, the more scare they become, impacting the stability of the energy market. Only through proper energy management can private companies, public utilities, and governments avoid the serious consequences that can arise from increasingly limited energy resources.
Diversifying Energy Sources
The over-reliance on limited resources combined with an increasing concern over the environmental consequences of carbon emissions has prompted an expansion of alternative-energy sources. In fact, the EIA reports that renewable energy generation is the fastest growing source of electric power. Of these renewable sources, hydropower and wind power are the largest contributors, although solar power is increasingly popular as solar panel technology improves. Nuclear power also remains a viable energy source, but the associated risks keep growth slow.
In the years to come, the diversifying supply of energy will create new opportunities that will need proper management. Energy consultants and managers will play a key role in helping make economically smart use of alternative energy.
How Can You Advance a Career in Energy Management?
If you want to help ensure the world continues to have the energy it needs, one of the best choices you can make is to earn a Doctor of Business Administration with a specialization in Energy Management. This advanced business management degree is designed to help you gain the skills you need to analyze all aspects of energy production and distribution and develop successful energy management strategies and solutions. Unlike a PhD in Management or other PhD degree, a DBA degree prepares you for a professional rather than academic-focused career, helping you effect real-world change.
If you’re worried you don’t have the time to enroll in a top DBA program and earn a doctorate in business, you should take a look at online learning. Through an online DBA program, you don’t have to live near a university or even drive to a campus in order to earn your energy management degree. Instead, an online DBA degree lets you complete the majority of your coursework from home. Plus, with an online DBA, you can take advantage of a flexible schedule, giving you the power to attend classes at whatever time of day works best for you. These advantages are why online education is such a popular choice among working adults.
The world needs smart, skilled energy managers and consultants. An online DBA program can help you become exactly that.
Walden University is an accredited institution offering a Doctor of Business Administration with a specialization in Energy Management degree program online. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
*U.S. Energy Information Administration, Chapter 1. World Energy Demand and Economic Outlook, International Energy Outlook: 2016, U.S. Department of Energy, on the internet at www.eia.gov/outlooks/ieo.
†U.S. Energy Information Administration, What Drives Crude Oil Prices?, U.S. Department of Energy, on the internet at www.eia.gov/finance/markets/crudeoil/spot_prices.php.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.