Social Theory and Culture Identity Essay Example | Topics and Well Written Essays - 1000 words

Social Theory and Culture Identity - Essay Example For example, the legacies of slavery, colonialism and imperialism took birth as the consequence of governing bodies or regimes, impacted the communities bringing about new social constructs and structures under which the society's psychological spaces or maps evolved, contributing to changes in Social Theories and redefining of Cultural Identities. (Adapted from Powell & Moody, 2003) This dissertation shall briefly analyze, the evolution of the concepts of identity and community and their significance in contemporary social thought, through the constructs of social theorists like Zygmut Bauman, Heelas, Alasdair MacIntyre, Chales Taylor, and Selingman etc. The community, according to communitarian discourse of Bauman (2001), has its foundation only on that of a shared agreement between its members or followers. The communitarian discourse is constructed upon two theories that, 1) people are individuals who should resolve their own problems and 2) that community should be built upon fraternal sharing; community has then an ethical foundation. These two are combined and collaborated, leading to almost confusing notions of community, as when he states, "When subjected to such evaluation we see community for what it is numb or dead" (Bauman 2001 p11). He further elucidates the relationship between cultures and identity - according to him, in the postmodern condition, cultures seem to be rather fragmented; and in addition, this fragmented culture allows individuals to select their own identities. He explains with contemporary examples of Blair, Clinton and others, attempting to put freedom and security on an even platform, by rebuilding th e idea of the community within a postmodern world. In short he argues that, "we as individuals should be both with the Other and for the Other. It is the poor whom are cast as the Other in communitarianism discourse. The difference between being - with and being - for the Other is about the level of commitment that we have for the Other, about having an emotional engagement with the Other" (Best, 2002). In contrast, the world seems to be a society that has lost its moral bearings in an unprecedented way, in the perception of the moral philosophers like Alasdair MacIntyre. (Oakes, 1996) MacIntyre points to the teleological alternative as the only remaining solution to this moral degradation, and combines the concepts of liberalism, laissez-faire capitalism, Marxism, and utilitarianism as proof for his science-fiction metaphor. Teleology according to MacIntyre, is the study of final causes, goals, purposes, and aims: similar to and filled with Aristotle's concepts. Consequently, the t erm 'Teleological' is crucial to MacIntyre's solution, the loss of which is the cause of the catastrophe described in his science-fiction parable. The concept of Emotivism is introduced here as a "doctrine that all evaluative judgments and more specifically all moral judgments are nothing but expressions of preference, expressions of attitude or feeling, insofar as they are moral or evaluative in character" (MacIntyre, 1984, pp.10-11). Relationship between the 'identity' in a heroic society has been explained as that which 'involves particularity and accountability'. I am answerable for ding or failing to do what anyone who occupies my role owes to others and this accountability terminates only

Causes and Effects of Nuclear Energy

Causes and Effects of Nuclear Energy Energy is life, as life on this planet depends upon a fixed amount of energy (citation) . Modern industrialized energy sources, such as coal and petroleum, were originally utilized for their seeming promise of high energies yielded per unit volume. Now, there is a much cleaner source of energy, it is called Nuclear power. It originates from the splitting of uranium atoms in a process called fission (The Nuclear Energy Institute (2012). Power plants use fission processes to generate heat for producing steam, which is used by a turbine to generate electricity (The Nuclear Energy Institute (2012). This electricity is consumed by people. This essay will firstly discuss the environment as for cause for nuclear energy, and then detail its subsequent negative biological and environmental effects. Para 1 (Benefits) To begin with there are many causes of nuclear power, but the key focus is that nuclear power does not emit carbon dioxide; it is reliable and is very efficient compared to other sources of power such as fossil fuel and coal. No carbon emissions this the big selling point to environmentalists about nuclear power plants are that they are said to emit almost no carbon dioxide. Some prominent environmentalists have embraced nuclear power because they see the imminent threat of global warming outweighing the potential threat of localized nuclear meltdowns. But how true is the claim. Reliability of nuclear power plants need little fuel, so they are less vulnerable to shortages because of strikes or natural disasters. International relations will have little effect on the supply of fuel to the reactors because uranium is evenly deposited around the globe. As stated by The Nuclear Energy Institute 2012 one disadvantage of uranium mining is that it leaves the residues from chemical processing of the ore, which leads to radon exposure to the public. Safety the results of a compromised reactor core can be disastrous, but the precautions that prevent this from happening prevent it well. Nuclear power is one the safest methods of producing energy. As stated by The Nuclear Energy Institute 2012 each year, 10,000 to 50,000 Americans die from respiratory diseases due to the burning of coal, and 300 are killed in mining and transportation accidents. Transition However, Nuclear Power Plants also have negative characteristic. Specifically, Nuclear Power Plants use uranium, one of the rarest elements in nature and a non-renewable source. Secondly, Nuclear power plants are also very expensive to build. Furthermore, failures in the cooling system can cause potentially hazarders steam explosions. Lastly, too much exposure to radiation can be fatal or cause cancer, and even exposure to small amounts radioactive waste can be lethal. Para2 On the other hand, nuclear power negatively effects the environment as it is a catalyst for the devastation of nature resulting from meltdowns and waste disposal. Meltdowns occur when there is a loss of coolant water in a fission reactor, the rods would overheat. The rods that contain the uranium fuel pellets would dissolve, leaving the fuel exposed. The temperature would increase with the lack of a cooling source. As stated by Apikyyan and Diamond 2009. When the fuel rods heat to 2800Â °C, the fuel would melt, and a white-hot molten mass would melt its way through the containment vessels to the ground below it. Thus would lead to grammar-rays being exposed in the air which travel, if any living thing around the radius of three hundred and twenty one kilometres would get affected. Waste Disposal the biggest stumbling block in support of nuclear power is the question of what to do with 20-30 tons of radioactive waste that each reactor accrues annually. Currently, waste is stored at nuclear plants across the country as new waste storage schemes are devised then fought over, scrapped, revised and fought over again. Stated by the daily green 2012.The Nuclear Regulatory Commission has said that waste can continue to be stored at plants almost 60 years after they shut down. Para3 The energy of nuclear detonation effects the environment in three ways, which are: blast radiation, nuclear radiation and thermal radiation. The distribution of radiation depends on the kind of nuclear weapon and the place of a blast. As stated by Weart (year) For a low altitude atmospheric detonation of a moderate sized weapon in the kiloton range, the energy is distributed roughly as follows: 50% as blast; 35% as thermal radiation; and 10% as residual nuclear radiation. The second main kind of nuclear weapon is based on the fusion reactions. Thanks to these reactions a large amount of energy is produced. These kinds of bombs can be several times more powerful than fission bombs. This is explained by the fact that the fusion reaction can produce a larger amount of energy per same mass. The bombs which are based on the use of fusion reaction are named hydrogen bombs, thermonuclear bombs or fusion bombs. Only several countries in the world possess this kind of nuclear weapon. The fiss ion mechanism is used in order to start the process of fusion in these kind of bombs, according to Rhodes When the fission bomb is detonated, gamma and X-rays emitted at the speed of light first compress the fusion fuel, then heat it to thermonuclear temperatures Conclusion To conclude the effects of nuclear power is to dangerous in the long term as it will affect the environment and the people. The danger caused by the use of nuclear energy is the main argument of the opponents of this use. At the present moment nuclear energy is one of the most dangerous and destructive energies in the world. Nobody can guarantee that it will be used only for peaceful goals. Distressing facts from our history, such as Hiroshima and Nagasaki bombing or Chernobyl tragedy prove this. Antagonist of the nuclear energy use note that solar, wind or other renewable fuels are more effective and less dangerous types of fuels if to compare them with nuclear energy. References List Apikyyan, S Diamond, D. (2009). Nuclear Power and Energy Security. (1st ed)N.P. Springer Publishing. The daily green (2012). Nuclear Power, retrieved from http://www.thedailygreen.com/environmental-news/latest/nuclear-power-pro-con#ixzz2CLcUCD4F The Nuclear Energy Institute (NEI) (2012). Retrieved from www.nei.org. Rhodes, Richard. (1986). The Making of the Atomic Bomb. New York: Simon and Schuster. U.S. Department of Energy (2012). Retrieved from www.nuclear.energy.gov/ Weart, Spencer R. 1988. Nuclear Fear: A History of Images. Cambridge, MA: Harvard University Press. Natural Resources Defense Council (2012). What if the Fukushima nuclear fallout crisis had happened here? Retrieved from )http://www.nrdc.org/nuclear/fallout/ Nuclear Power and Energy Security edited by Samuel Apikyan, David Diamond World energy consumption has developed dramatically over the past few decades. This growth in energy demand will be driven by large increases in both economic growth and world population coupled with rising living standards in rapidly growing countries. This proceeding examines the status and future of nuclear power because of a belief that this technology is an important option for the regional and the world countries to meet the future energy needs without emitting carbon dioxide and other atmospheric pollutants. The objectives, addressed to government, industry, and academic leaders, discusses the interrelated technical, economic, environmental and political challenges facing a significant increase in the global nuclear power utilization over the next half century and what might be done to overcome those challenges. U.S. Department of Energy 2012. Electricity drives the U.S. economy. It powers our homes, offices, and industries; provides communications, entertainment, and medical services; powers computers, technology, and the Internet; and runs various forms of transportation. Electricity and the many technologies that it powers enhance the quality of life for our customers and contribute to the progress and success of our nation. Even as electric utilities and power suppliers work hard to meet the increasing demands of consumers, they are strongly committed to reducing the environmental impact of electric generation. As an industry, the electric power sector has implemented flexible and cost-effective voluntary programs to mitigate greenhouse gas (GHG) emissions for several years.

Societial Changes in the Middle East in 600 B.C.E. :: Politics, world history, Mesopotamia

From the time of the Agricultural revolution till 600 B.C.E, many changes were being made in society. New tools and weapons were developed, new types of writing, and new art forms were all being discovered and altered. But one societal element that is crucial to everyone is politics. The politics of a society effect the citizens day to day lives, and set boundries for all people. Between the time of the Agricultural Revolution and 600 B.C.E, the Middle East experienced political changes such as; the dimensions of government, and the land that was conquered and controlled. The one thing during this time that did remain unchanged, for the most part, were the political leaders of the time period. In Mesopotamia priests were held to a high standard and had a lot of political and economical involvement. As the city-states in Mesopotamia advanced so did the interaction with different empires. Also as the involvement grew so did the civilians quality of life, even for the slaves. Eventually Mesopotamia split up into a north and south region. The region split up due to political and economic reasons. The North was ruled by the Assyria and the south was ruled by Hammurabi. The heightened economic time continued, but it was short lived after the conflict in Anatolia in 1200 B.C.E. the Mesopotamia economy collapsed and they then had a time of poverty and struggle. Assyrian rule lasted from 911 to 612 B.C.E in the northern Mesopotamia region. It is considered by most historians as the first empire. The expansion of Assyrian took place along major trade routes which gave them a stable economy. As the expansion continued policies were put in place to support and benefit the upper classes of society. Later the empire began to diminish because of the hatred it received from its conquered people, and the empires population became less and less loyal to its rulers. During 2000 B.C.E the Israelites populates an area located at cross roads of trade routes. Their petite population inhabited a diminutive territory that was deprived of natural resources, but they were nestled at a cross road of trade routes which was very beneficial for their economy.

Turish Visions For Sustainable Renewable Energy Environmental Sciences Essay

Today, the universe is confronting monolithic environmental challenges. Global heating and clime alteration, ozone depletion, loss of biodiversity, dirt eroding, and air and H2O pollution are planetary jobs with wide-ranging impacts on human populations. In add-on to environmental jobs, there are besides serious security issues associated with the large-scale usage of dodo and atomic fuels. Tensions arise from depletion of planetary dodo fuel resources,4 uncertainnesss in energy monetary values and energy availability,5 geopolitical tenseness caused by the concentration of oil and gas resources in a few parts of the universes and the hazard of atomic proliferation endangering planetary security.6 Political force per unit areas environing fossil fuels can take to unrest, government alterations, and even war. These state of affairss can take to extreme societal hardships.7 Therefore, increasing energy security hazards are a turning concern for developed and developing states likewise. Energy security has, hence, returned to the top of the international docket like in the 1970s8 and now is considered one of the most of import challenges to the universe s peace and security. The conventional energy paradigm is clearly incapable of work outing these important political and societal jobs. This state of affairs has called for a paradigm displacement in energy policy. As a affair of fact, a paradigm displacement in the aims of energy policy is presently taking topographic point – towards security of supply and clime change.7 Sustainability is one of the cardinal constructs of the new paradigm. Cost-efficient, sustainable energy policy should take to cut down energy usage before seeking to run into the staying demand by the cleanest means possible. The planetary tendency at the minute is towards the energy schemes built around the undermentioned hierarchy in energy options from the most sustainable to the least sustainable:9 * Energy preservation: improved energy efficiency and rational usage of energy * Increasing usage of renewable beginnings * Exploitation of un-sustainable resources utilizing low-carbon engineerings The displacement to renewable, energy-efficient and low-carbon engineerings driven by energy security and clime alteration concerns is doing progress although at a slower gait than desired. A passage from fossil fuels to a non-carbon-based economic system will more likely occur, over the longer-term.Global Trends in Renewable EnergyRenewable energy, which constitutes one of the three indispensable pillars of the new energy paradigm,10 has become a high precedence among energy policy schemes on a planetary graduated table. In most states, depending on the on-going paradigm alteration, renewable energy policies are germinating rapidly11 Many states are in the procedure of deregulating and reconstituting their electric power industries. The cardinal passage of the universes energy markets has begun. As illustrated in Table 1 and 2, a figure of developed, transitioning states, and developing states have already adopted some type of policy to advance renewable power coevals. The most common existing policy is the feed-in law13 ( feed-in duties ) , which has been enacted in many states and parts in recent old ages. There are many other signifiers of policy support for renewable power coevals, including Renewable Portfolio Standards ( RPS ) policies, direct capital investing subsidies or discounts, revenue enhancement inducements and credits, gross revenues revenue enhancement and value added revenue enhancement ( VAT ) freedoms, direct production payments or revenue enhancement credits ( i.e. , per kWh ) , green certification trading, net metering, direct public investing or funding, and public competitory command for specified measures of power coevals. In at least 66 states worldwide, policy marks for renewable energy have been implemented. Included among these states are all 27 European Union states, 29 U.S. provinces ( and D.C. ) , and 9 Canadian provinces.14 Table 3 demonstrates that most marks are for portions of Electricity production, primary energy,15 and/or concluding energy16 by a specific day of the month. Most marks aim for the 2010-2012 timeframe, although an increasing figure of marks aim for 2020. There is now an EU-wide mark of 20 per centum of concluding energy consumption17 by 2020, and a Chinese mark of 15 per centum of primary energy by 2020. Most states have set high ends for the use of renewable energy by the center of the century, but present twenty-four hours use of renewable beginnings of energy is dominated by developed states such as the United States, Germany, Spain and Denmark, every bit good Brazil and China, the taking developing states. Hydroelectric power is the dominant renewable energy due to its w idespread usage but air current energy and solar power are fast turning signifiers of renewable energy beginnings. The European Union ( EU ) is soon taking planetary action in speed uping the passage to renewable energy and a low-carbon economic system. Harmonizing to the European Energy Commissioner Andris Piebalgs, â€Å" we are at the beginning of 3rd industrial revolution – the rapid development of an wholly new energy system. We can anticipate a monolithic displacement towards a carbon-free electricity system, immense force per unit area to cut down energy ingestion and conveyance on the footing of renewable electricity The EU is heading towards the Third Industrial Revolution by doing some binding committednesss. On March 2007, European leaders signed up to a adhering EU-wide mark to beginning 20 % of their energy demands from renewables such as biomass, hydro, air current, and solar power by 2020. On 23 January 2008, the European Commission put frontward differentiated marks for each EU member province, based on their several per capita GDP. As portion of the overall mark, accomplishing at least 10 % of their conveyance fuel ingestion from bio-fuels is a adhering minimal mark for each member province. Under President Obama, the United States is besides increasing its trust on green energy: 25 % of its electricity is to be generated from renewable energy beginnings by 2025. As a effect of these new policies, planetary investing in renewable energy and the installed renewable capacity of the universe has progressively grown over the past decennary, as illustrated in Figures 1-4. 14 Harmonizing to REN21 Renewables Global Status Report, many indexs of renewable energy have shown dramatic additions in the 2000s. Annual renewable energy investing has reached $ 120 billion in 2008. Global power capacity from new renewable energy beginnings ( excepting big hydro ) expanded to 280 GW in 2008 – a 16 per centum rise from the 240 GW in 2007 and a 75 per centum addition from 160 GW in 2004, as illustrated in Table 1. The top six states were China ( 76 GW ) , The United States ( 40 GW ) , Germany ( 34 GW ) , Spain ( 22 GW ) , India ( 13 GW ) , and Japan ( 8 GW ) . The capacity in developing states grew to 119 GW or 43 per centum of entire with China ( little hydro and air current ) and India ( air current ) taking the addition. A important milepost was reached in 2008 when added power capacity from renewables in both the United States and the European Union exceeded added power capacity from conventional power ( including gas, coal, oil and atomic ) and renewables r epresented more than 50 % of sum added capacity. Harmonizing to European Photovoltaic Industry Association ( EPIA ) , planetary installed solar photovoltaic power grew by 44 per centum in 2009 funded by German subsidies. The planetary solar photovoltaic electricity ( PV ) market counted an extra addition in installed capacity of about 6.4 GW in 2009, making a entire capacity of over 20 GW worldwide. This has been the most of import one-year capacity addition of all time and is peculiarly impressive in visible radiation of the hard fiscal and economical fortunes during the past twelvemonth. Germany was the largest demand market last twelvemonth, adding 3 gigawatts ( GW ) , followed by Italy, Japan and the United States. Germany will probably stay biggest demand market in 2010, ing to the EPIA. In 2010, planetary tive installed PV capacity is expected grow by at least 40 % , while the growing is expected to increase by more than 15 % . Despite strong growing, solar power still provides merely approximately 0.5 per centum of planetary installed electricity capacity. Among new renewables ( renewables excepting big hydropower ) , wind power was the largest add-on to renewable energy capacity. Since 2000, air current power has the highest capacity of all renewables. The Global Wind Energy Council announced that the universe ‘s air current power capacity grew by 31 % in 2009, adding 37.5 gigawatts ( GW ) to convey entire installings up to 157.9 GW. The chief markets driving this important growing continue to be Asia, North America, and Europe, each of which installed more than 10 GW of new air current capacity in 2009. China was the universes largest market in 2009, more than duplicating its air current coevals capacity from 12.1 GW in 2008 to 25.1 GW at the terminal of 2009 with new capacity add-ons of 13 GW. A freshly added capacity of 1,270 MW in India and some smaller add-ons in Japan, South Korea, and Taiwan make Asia the biggest regional market for wind energy in 2009, with more than 14 GW of new capacity. The U.S. air current energy market installed about 10 GW in 2009, increasing the state ‘s installed capacity by 39 % and conveying the entire installed grid-connected capacity to 35 GW. Europe, which has traditionally been the universe ‘s largest market for wind energy development, continued to see strong growing, besides transcending outlooks. In 2009, 10.5 GW were installed in Europe, led by Spain ( 2.5GW ) and Germany ( 1.9 GW ) . Italy, France, and the UK all added more than 1 GW of new air current capacity each. 39 % of all new capacity installed in 2009 was wind power, followed by gas ( 26 % ) and solar photovoltaic ( 16 % ) . Europe decommissioned more coal and atomic capacity than it installed in 2009. Take together, renewable energy engineerings account for 61 % of new power bring forthing capacity in 2009. As demonstrated, the air current energy industry has emerged as a major growing sector in a figure of states. Among developing states, China and India are progressively playing a major function in both the fabrication and installing of air current energy. While taking air current turbine makers are based in industrialized states like Denmark, Germany, and Spain, India and China have caught up really rapidly- both through edifice up their ain air current industries and through support for air current energy deployment. Within the last decennary, they managed to come on from holding no air current turbine makers to hosting taking companies capable of fabricating whole air current turbines. It should be emphasized that these states can function as of import illustrations of how leapfrogging19 is possible in footings of industrial development and engineering acceptance in the energy sector.Turkey ‘s Renewable Energy Policies and SchemesTurkey has significant renewable energy potency. Renewables make the second-largest part to domestic energy production and ingestion after coal.20 ( See Fig ure 5 ) 21 However commercial usage of renewable energy in Turkey, excepting large-scale hydropower, has non developed in proportion to its big resource base. Renewable energy usage has been dominated by big hydro and biomass ( largely wood and animate being wastes ) .20 The immense potency of Turkey in renewables like air current, solar, and geothermal has non been used expeditiously until recently22. ( See Table 4 & A ; Table 5 ) 23 Unfortunately, the usage of new renewables ( renewables excepting big hydro ) is hence still highly limited because of low growth.24 Although the absolute value of renewable energy usage grows, its portion of the Total Primary Energy Supply ( TPES ) does non increase since it does n't turn in proportion with energy ingestion as illustrated in Figure 6. So, the portion of fossil fuels continues to increase.24 In the event that Turkey continues prosecuting the same policy, it is more likely that renewable portions will go on diminishing instead than increasing. Just as, entire portion of renewable in TPES has declined depending on, chiefly, diminishing biomass usage ( Table 5 ) 23 and the turning function of natural gas in the system. It has been estimated that the portion of renewable energy will diminish to % 9 of TPES in 2020.20 As illustrated in Figure 7, the portion of installed renewable capacity in entire installed capacity dramatically decreased in the last decade.25 In add-on, Turkeys extremely supply-oriented energy policy dominated, with accent placed on guaranting extra energy supply to run into the turning demand, while the sustainability standards remained a lower precedence. Turkey is presently faced with serious environmental and energy security challenges. As illustrated in Figure 8, the portion of imported fuels continues to increase and more than approximately 70 % of the entire primary energy ingestion in the state is met by imports.25 And as illustrated in Figures 9 and 10, entire CO2 emanations are quickly increasing.25 Energy strength remains excessively high in comparing to the other OECD Countries.26 Therefore, environmental and energy security hazards continue to increase in Turkey. Turkey s energy state of affairs is obviously unsustainable and in struggle with the emerging energy paradigm every bit good as with modern-day planetary energy tendencies. Changing these unsustainable forms is one of the chief challenges for Turkey. It is clear that the bing renewable energy potency must be realized in a sensible clip period. It is a measure in the right way that determination shapers in Turkey have already on the docket to use hydro and renewable resources such as air current, and geothermic energy to run into in demand in a sustainable mode. Recently, advancement has been made with respect to renewable energy ordinances. The Electricity Market Law, which was enacted in March 2001, authorized the Energy Market Regulatory Agency ( EMRA ) to take the necessary steps to advance the use of renewable energy resources27. The First Renewable Energy Law No. 5346, entered into force in 200528. The Renewable Energy Law was a cardinal measure for beef uping the state ‘s decentralized renewable energy sector. However, much more still needs to be done. It is an pressing demand to better the state ‘s Renewable Energy Strategy. Turkey is besides seeking to take new stairss for exciting renewable energy usage and investings to speed up the passage to renewable energy. Following the passage of the Renewable Energy Law No. 5346 in May 2005, investor involvement in the renewable energy sector has risen distinctively29 This is particularly the instance in relation to the coevals of electricity through hydro workss and air current farms22. A crisp addition in the figure of license appliers for renewables has occurred. Despite a rise in the Numberss, the involvement in renewable energy undertakings was hindered by the loaners ‘ reluctance because of the uncertainness in the purchase warrants. As a consequence, the authorities introduced an of import series of amendments in 200730 and 200831. The amendment to the jurisprudence in May 2007 secured a changeless purchase monetary value for all types of renewable beginnings. Current inducements to advance renewable energy by The Electricity Market Law with No. 4628 and Renewable Energy Law with No. 5346 are shown in Table 6.32 Following these amendments important advancement has been made. As illustrat ed in Table 7, a sum of 601 renewable undertakings with a capacity of 15500 MW have been licensed by 2009.22 The attempts successfully resulted in significant additions in the air current and geothermic capacity, as illustrated in Figures 11-12. However, as Tables 4 and 7 demonstrate22 solar capacity has non developed and it clearly needs farther publicity. Therefore, a Draft Amendment to the Renewable Energy Law has late been prepared in order to supply farther inducements to the renewable energy sector. This Draft Law will turn to issues such as the finding of different purchase monetary values for the electricity produced from different types of renewable energy, simpler trade mechanism for renewable pool, and extra support in ness electro-mechanical equipment manufactured in Turkey. Harmonizing to this Draft Law, different monetary values changing from Euro Cent 5 /kwh t0 Euro Cent 18 /kwh w^ ^e applied to the purchase of eleetricity depending on the type of renew. able energy r esource used ( seeTable 8 ) .32 It is considered to be a more realistic attack than the Renewable Energy Law since it contemplates the application of higher and different monetary values depending on the type of renewable energy resources, and therefore, responds better to the demands of the sector. The purpose is chiefly to spread out the use of solar energy for bring forthing electrical energy in Turkey. However, the Last Amendment to the Renewable Energy Law has yet to be implemented. The Draft Amending Law was supposed to go through the National General Assembly on June, 2009. But it was suspended to reconsider purchase monetary values because it would make an excess load on the exchequer. It is still under treatment in the Turkish National General Assembly. Turkey is besides now at the phase of puting marks for renewable energy development. The Higher Board of Planning adopted the â€Å" Electric Energy Market and Supply Security Strategy Paper † 33 in May 2009. In this Strategy Paper, the long term primary mark is â€Å" to guarantee that the portion of renewable resources in electricity coevals is increased up to at least 30 % by 2023. † This scheme papers was published as a general route map to increase the portion of renewable energy in electricity coevals. Within the model of the Strategy Paper, long term attempts will take into consideration the following marks by 2023: * Ensure that available technically and economically hydro- electric potency is to the full utilised, * Increase installed weave energy power to 20,000 MW, * Commission all geothermic potency of 600 MW that is presently considered as suited for electric production, * Generalize the usage of solar energy for bring forthing energy and guarantee maximal use of state potency, * Follow and implement closely technological progresss in the usage of solar energy for electricity coevals, * Amend consequently the Law No. 5346 to promote coevals of electricity utilizing solar energy, * Prepare and bring forth programs that will take into history the possible alterations in use potencies of other renewable energy resources based on technological and legislative developments and in instance of additions, use of such resources, portion of fossil fuels and peculiarly of imported resource, will be reduced consequently. Recently, the Ministry of Energy and Natural Resources prepared its Strategic Plan covering the period between 2010 and 2014.25 Increasing the portion of renewable energy resources is one of the programs ends to supply energy supply security. Near-term marks are the undermentioned: * The hydro electricity programs of 5,000 MW under building will be completed by 2013. * The air current works installed capacity, which was 802.8 MW as of 2009, will be increased up to 10,000 MW by 2015. * The installed capacity for the geothermal works will be increased from 77.2 MW in 2009 up to 300 MW by 2015. Both of this long term and close term scheme programs are non, on their ain, lawfully adhering. It is, nevertheless, expected that their commissariats will be incorporated into future ordinances and statute law.ConsiderationsAlthough Turkey has important renewable energy resources for electricity production, this potency has non yet been used expeditiously. The legislator in Turkey has taken of import stairss in order to advance the usage of renewable energy resources in the production of electricity and to promote the investings in this market. However, Turkey is doing comparatively slow advancement in the realisation of its purposes of renewable energy. The ground for this is that policies and steps adopted in the state taking to heighten the usage of renewable energy beginnings are chiefly driven by the demands of the EU accession procedure. It seems that Turkey could n't internalise the new energy paradigm specifically plenty, although it has adapted to the EUs ordinances. First of wholly, the paradigm alteration should right be understood and internalized by the Turkish authorities. This would let the authorities to put up a legal and institutional model conducive to this new energy paradigm, draws up the specifications of what the energy system of the hereafter should look like, and formulate policy following the new energy paradigm. Second, the administrative staff should be educated and trained on how to implement and internalise the new energy paradigm, because one of the cardinal facets of this procedure is a conceptual re-invention of how energy ingestion and production is done and how the related establishments operate. Turkey should set about comprehensive attempts to get rid of the failings in its policies and ordinances and how they are implemented. It is a race against the clip as prima states compete with each other in this race towards the Third Industrial Revolution. If Turkey does n't desire to lose out on the Third Industrial Revolution, and if it wants to catch up with taking developing states, such as China and India, which managed to catch up with the developed states, it should instantly speed up the passage procedure to renewable energy. Technological leapfrogging is one of the ways to accomplish this goal.34 From a conventional point of position, developing states passively adopt engineering as standard merchandises, which have been developed in industrial states. However, leapfrogging represents an attractive option for these late industrializing states. The function of technological leapfrogging within a sustainable development context35 is non automatic, since leapfrogging entirely does non vouch or even promote prosperity. However, from a more philosophical position, it has been argued that there is, in fact, no option to leapfrogging for developing countries.36 If these states do non try to update their engineerings, they face exclusion from the planetary mainstream economic tendencies every bit good as continued want and poorness for their people. Turkey should besides non reiterate the energy history of the industrialised countries37. Similarly to the success narratives of the Indian and Chinese air current i ndustries, leapfrogging chances may besides be for Turkey with its huge potency of renewable resources. Decision shapers in Turkey should internalise the construct of leapfrogging as an built-in portion of their renewable energy vision and should seek to implement its many possible applications. However, in order to protect the investing of the state ‘s scarce resources available for advanced engineerings, as is the instance in most underdeveloped states, and to separate between fortunes where leapfrogging may or may non be successful, careful and elaborate analyses should be carried out.Endnotes1. Rajni Bakshi, â€Å" A new energy paradigm, † The Hindu, Online edition of Indias National Newspaper, Dec. 24, 2000. 2. Amulya Kumar N. Reddy, â€Å" Development, Energy and Environment Alternative Paradigms † , retreived from hypertext transfer protocol: //amulya-reddy.org.in 3. P. D. Rakin and R. M. Margolis, â€Å" Global Energy, Sustain ability, and the Conventional Development Paradigm, † Energy Sources, Part A: Recovery, Utilization, and Environmental Effects, Vol. 20, No. 4, ( 1998 ) , pp. 363-383. 4. Hal Turton and Leonardo Barreto, â€Å" Long-run security of energy supply and clime alteration, † Vol. 34. No. 15 ( October, 2006 ) , pp. 2232-2250. 5. Eshita Gupta, â€Å" Oil exposure index of oil-importing states, † Energy Policy, Vol. 36, ( January, 2008 ) , pp. 1195-1211. 6. James P. Dorian, Herman T Franssen and Dale R. Simbeck, â€Å" Global challenges in energy, † Energy Policy, Vol. 34, No. 15 ( October, 2006 ) , pp. 1984-1991. 7. Valeria Costantini, Francesco Gracceva, Anil Markandya and Giorgia Vicini, â€Å" Security of energy supply: Comparing scenarios from a European position, † Energy Policy, Vol. 35, No. 1 ( January, 2007 ) , pp. 210-226. 8. William J. Nuttall and Devon L. Manz M. Totten, â€Å" A New Energy Security Paradigm for the Twenty- First Century, † EPRG Working Paper, retrieved May 1, 2010, from hypertext transfer protocol: //wwweprg.group.cam.ac.uk/wp-content/uploads/2008/ll/eprg0731.pdf 9. Energy Policy Statement: 09/03, Institution of Mechanical Engineers retrieved May 2010 from hypertext transfer protocol: //www.imeche.Org/NR/rdonlyres/9C7E8DCD-150C-4ECA-A387-D71DEAAAAFAD/0/Energy HierarchylMechEPolicy.p df 10. Jeremy Rifkin, â€Å" Leading the Way to the Third Industrial Revolution and a New Social Europe in the twenty-first Century, † European TIR Paper, retrieved May, 2010, from hypertext transfer protocol: //wwwfoet.org/packet/ European.pdf. 11. Roland Menges, â€Å" Supporting renewable energy on liberalised markets: green electricity between additionality and consumer sovereignty, † Energy Policy, Vol. 31 ( 2003 ) , pp. 583-596. 12. REN 2! ( Renewable Energy Policy Network for the 21th Century ) , â€Å" Renewables Global Status Report 2009 Update, † retrieved May, 2010 from hypertext transfer protocol: //www.ren21.net/pdf/RE_GSR_2009_Update.pdf 13. A legal duty on public-service corporations to buy electricity from renewable beginnings. 14. REN 2! ( Renewable Energy Policy Network for the 21th Century ) , â€Å" Renewables Global Status Report 2007, † retrieved on May 2010 from hypertext transfer protocol: //www.ren21.net/globalstatusreport/g2007.asp. 15. Energy that has non been subjected to any transition or transmutation procedure. 16. Form of energy available to the user following the transition from primary energy bearers such as rough oil, natural gas, atomic energy, coal and regenerative energies. 17. Sum of the energy supplied to the concluding user for all energy utilizations. 18. A. Piebalgs, Energy Commissioner, â€Å" European Response to energy challenges? Address at the EU Energy and Environment Law and Policy Conf Brussels ( January 22, 2009 ) , retrieved May, 20 10, from hypertext transfer protocol: //www.energypolicyblog.com/2009/02/ 10/european-union-at-the-eve-of-the-thirdindustrial-revolution % E2 % 80 % 9D/ . 19. Technology leapfrogging is a term used to depict the bypassing of technological phases that other states have gone trough. This is the definition used by Edward Steinmueller in the paper titled â€Å" ICTS ‘ and the ; Possibilities for Leapfroging by Developing States, † International Labor Review, Vol.140, No.2 ( 2001 ) , p. 194. 20. International Energy Agency, â€Å" Energy Policies of IEA Countries, Turkey 2005 Review † , 2005. hypertext transfer protocol: //www. iea. org/textbase/npp df/f ree/200 5/turkey200 5.p df 21. F. Cecen, â€Å" Opportunities in Turkish Electricity Market † ( May, 2009 ) retrieved May 1, 2010, from http// World Wide Web. the- Ate. org/events/c09/content/presentations/B2- Cecen- Firat-ICTAS.pdf 22. Burak Dilli, General Overview of Turkish Electricity Sector: Privatization & A ; Renewable Energy, PP Presentation hypertext transfer protocol: //www.the-atc.org/events/c09/content/presentations/B2-Dilli-BudakMinistryOfEnergy.p df 23. â€Å" Mediterranean Energy Perspectives 2008, † Observatoire Mediterraneen de l'Energie ( OME ) , 2008, retrieved April 1, 2010, from htpp//www omeenergie.com/mp-2008- 12- 5-en-335.pdf, pp. 315-378. 24. Zeki Aybar Eris, , â€Å" Great Wind Potential of Turkey, † POWER-GEN Europe 2007, Feria de Madrid, Madrid, Spain, June 26-28, 2007, p. 18-26. 25. The Repudie of Turkey Ministry of Energy and Natural Resources Strategy Plan 2010-2014, Ankara, 2010. 26. Erdal Aaˆ?alikoglu, â€Å" Energy Efficiency in Turkey † , TAIEX Workshop 25625 on Demand Side Management in Energy Efficiency, November 22-23, 2007, General Directorate of Electric Power Resources, Survey and Development Administration, Ankara, Turkey, retrieved May, 2010, from hypertext transfer protocol: //www.eie.gov.tr/ duyurular/EV/TAIEX/ taiex_sunular.html. 27. Dirk Gaupp, â€Å" Turkeys New Law on Renewable Energy Sources within the Context of the Accession Negotiations with the EU, † German Law Journal, Vol. 08, No. 04 ( 2007 ) , pp. 413-416. 28. Deger Boden, â€Å" Circuit Makers † , IFLR, International Financial Law reappraisal, ( June 1, 2009 ) . 29. HergAA?ner Bilgen A-zeke, â€Å" Turkey: The New Law on Renewable Energy Resources, † Environmental & A ; Energy, ( April 4, 2007 ) . 30. â€Å" Law on Utilization of Renewable Energy Sources for the Purpose of Generation Electricity, † Official GazetteNo. 24335, dated 10.05.2005 ( Law No. : 5346 ) , Last Amendment: Official Gazette No. 26510, dated 02.05.2007. 31. â€Å" Law on Utilization of Renewable Energy Sources for the Purpose of Generation Electricity, † Official GazetteNo. 24335, dated 10.05.2005 ( Law No. : 5346 ) , Last Amendment: Official Gazette No. 270522, dated 03.12.2008. 32. Energy, Utilities & A ; Mining Sector, â€Å" Renewables Report On the cheery side of the street* Opportunities and challenges in the Turkish renewable energy market Industries, † ( August 2009 ) retrieved May, 2010, from hypertext transfer protocol: //www.pwc.com/tr_TR/tr/publications/Assets/Renewables_Report_On_the_sunny_side_of_the_street.pdf. 33. â€Å" Turkeys Electric Energy Market and Supply Security Strategy Paper † with Res. No. 2009/1 1, dated 18.09.2009. hypertext transfer protocol: //www.enerji. gov.tr/yayinlar_rap orlar/ Arz_Guvenligi_Stratej i_Belgesi.p df 34. Hasan Saygm, â€Å" Technological Leapfrogging in Energy in Developing States, † Enerji, Vol. 11, No. 1 ( Ocak, 2006 ) , p. 27. ( in Turkish ) 35. Robert Davison, Doug Vogel, Roger Haris and Noel Jones, â€Å" Technology Leapfrogging in Developing Countries- an Inevitable Luxury, † Vol. 1, No. 5 EJISDC ( 2000 ) , pp. 1-10. 36. W. Edward Steinmueller, â€Å" ICTs and the possibilities for Leapfroging by Developing States, † International Labour Review, Vol. 140, No. 2 ( 2000 ) . 37. Hasan Saygin, â€Å" Zero Emission Technologies for battling Global Heating, † Enerji, Vol. 11 ( Mart, 2006 ) No. 3, p. 25.

Columbia Capital Structure

Some other risk factors include substantial cyclical fluctuation, the effects of unseasonable weather conditions, and the popularity of the outdoor activities. In order to minimize the negative impacts on this business, the company started a series Of strategic initiatives, such as product innovation program, new multi-channel and multi-country direct-to-consumer platform, information management and their enhanced marketing efforts. All those improvement and implementation involve significant investment in SO&A expenses and its fixed cost.Thus it is essential to look back and evaluate their current capital structure and payout policies to exam whether the company would start on carrying debt or whether they have residual cash return to their investors. Despite Columbians regular dividend payouts and stock repurchases, they does not maintain a healthy cash and short-term investment balance. According to the financial data provided in Annual Report, the major financing needs include ca pital expenditures, working capital expenses, stock buybacks, and dividend payouts. In 201 1 , Columbia spent $78 million in capital expenditure and $92. Million in working capital investments; which was increased from $29 million and $78. 9 million from last year. Even though the company's net income increases over time, they have generated negative free cash flow for both fiscal year of 2011 and 2010 with around $14. 6 million and $53 million respectively. Currently, the company sales short-term investments to finance those capital expenditures which should not be a long term strategy as the company only has $2. 9 million short-term investments sitting on the balance sheet at the end of 2011.If the company maintains its profitability and its capital structure as the end of Fiscal year 2010, Columbia will have significant financial difficulties to meet capital expenditure requirement and will have emitted resources for distribution to investors in the form of a cash dividend and st ock repurchases with current payout rate. In conclusion, Columbia may need to seek additional funding. Even though, historically the company have limited their reliance on debt to finance their working capital, capital expenditures and investing activity requirements.We suggest that the company need to revise their capital structure policy by increasing debt to finance the business activities. Debt not only can provide coverage for any general costs and unforeseen expenses, it also serves as a tax shield allowing more capital to be available to investors. The assumption here is that the company can earn more in tax savings from borrowed funds than it pays in interest expenses and fees on these funds. As shown in Exhibit X, Columbians WAC hit a minimum of 6. 6% at 30% debt ratio, or debt to equity ratio of 0. 3. As the graph illustrates below, less than 30% debt or debt beyond 40% cause WAC to increase. Also, the PEPS and ROE increase compared to the current 100% equity model. In a b usiness, debt is a two-edged sword. Aggressive use of leverage increases the amount of financial resources available for growth, expansion, and payout for investors. But if Columbia adopts a highly leveraged capital structure policy, it may find its freedom of action restricted by its creditors and its profitability may hurt as a result of paying high interest expenses.It may also affect the company's profitability and liquidity when the business has trouble meeting Operating and debt liabilities during unfavorable economic conditions. Additionally, too much debt versus equity would potentially affects business' credit rating, which is the evaluation of a company's ability to repay principle and interest on debt obligations. Since the company do not have much experience on carrying debt on their lance sheet, we recommend the company to start the process slow.