7A

Opportunity Statement: The environment is unable to flourish because of the excessive use of fossil fuels, which provide an abundant amount of energy and are easy to access.

·      The who: People in the United States

·      The what: The environment is unable to flourish because of the excessive use of fossil fuels

·      The why: They provide an abundant amount of energy and are easy to access.

Hypothesis: Fossil fuels are not sustainable and can be replaced with more environmentally friendly alternatives like solar power.

Testing the who: Due to the environmental factors that climate change has caused, people in the United States should reduce the use of fossil fuels in order to prevent more problems from occurring in the future. I feel like this situation applies to everyone living in the United States because it impacts everyone who lives here. Unfortunately, there are people who don’t feel this dilemma is important and feel like no change is needed.

Testing the what: People in the United States depend on fossil fuels for their electricity, heating, gas, etc., which are necessary things for daily life. We can’t give those up, but it is possible to use a new method to obtain the energy needed for these resources. Acquiring fossil fuels is cheaper and easier to access than any alternatives, but in order to save the environment from further damage, a change is needed.

Testing the why: Everyone should be aware of the impact the resources they use have on the environment. The energy generated from fossil fuels is necessary, but there are other ways to obtain this energy that are better for the environment. It is important that people understand the impact fossil fuels have and that they know there are more environmentally friendly alternatives.

I conducted my interviews by going to a public park in Deland and going up to random people that were willing to let me interview them.

Interview 1: This person was a middle-aged woman who has 2 kids. I asked her about her thoughts on the use of fossil fuels for electricity, heating, gas, etc. and she explained that she didn’t know much about it, but wished to know more. She believed that fossil fuels impact the environment a lot, but wasn’t sure exactly how this happened. She felt like the use of fossil fuels was necessary, but not good for the environment. She hopes there will be more research in order to find better alternatives for fossil fuels. I asked her what was a good reason to continue using fossil fuels and she explained that we can’t live without the things it generates energy for. She feels like fossil fuels are reliable as of right now, but they are a long-term concern and we need to be better prepared to use alternative methods. I asked if a shift from fossil fuels to solar power was possible and she said yes, explaining that the sun is a reliable energy source. She explains this situation by saying people are aware of the situation but aren’t willing to give up their ways to help find a solution.

Interview 2: This person was an elderly woman who has 2 kids. She believes people in America are super wasteful and are the cause of most environmental problems. She feels like the use of fossil fuels accounts for a large portion of the environmental damage that occurs. Also, she hates the method of fracking because of its harmful impact on the environment. I asked her if she thinks the use of fossil fuels is worth the impact they have on the environment and she said no, but doesn’t see any reliable alternatives as of right now. She stressed the main factor behind using fossil fuels and other resources that harm the environment is money. She believes switching to solar power is possible, but the government needs to be involved in order to make it a realistic possibility. She seemed worried about the fate of the environment but didn’t feel like she could make much of an impact.

Interview 3: This person was an elderly man who had 2 kids. He wants to eliminate the use of fossil fuels and wants to use solar, wind, nuclear, and hydroelectric power instead. He believes fossil fuels are a huge reason for the environment struggling and gives the example of millions of people in China dying from air pollution. He feels like fossil fuels are all we got right now because solar, wind, nuclear, and hydroelectric systems haven’t been perfected. He thinks the best reason to continue using fossil fuels is because of how inexpensive they are compared to alternatives. He does not believe fossil fuels are more reliable than possible alternatives because of the process of fracking and drilling needed to extract fossil fuels, which harms the environment. He believes a combination of solar, wind, nuclear, and hydroelectric is the best solution for this problem. Nuclear would be the best option, but they need to find a more efficient way to use this source of energy first. He feels like a change to one of these alternatives will occur within the next 8 years or so.

Interview 4: This person was a young man who is 20 years old and currently attending a Christian college online in hopes of becoming a minister. He believes we should be actively looking for alternatives because fossil fuels are nonrenewable and are going to run out eventually. He does not believe fossil fuels are the main cause of the damage to the environment because we have used them for so long and nothing catastrophic has happened. He feels like the use of fossil fuels is worth the impact they have on the environment because they enhance our quality of life. I asked him if he thinks fossil fuels are more reliable than any of the alternatives and he answered yes, explaining that weather is unpredictable and fossil fuels are abundant. He believes a shift to solar power is possible, but not anytime soon, says it could be 20 years from now.

Interview 5: This person was a young woman who is 18 years old and going to attend Stetson in the fall. She believes the use of fossil fuels is bad for the environment and that Americans use it way too much. She would be willing to have a worse quality of life if it meant switching to an alternative way to obtain energy in order to help save the environment. She feels like the main reason why we use fossil fuels is because we are lazy and are not willing to change our ways. I asked if she thought fossil fuels are more reliable than any other alternative and she said no because they are nonrenewable and will eventually run out. She feels like solar power is a possibility, but it couldn’t generate the amount of energy we use right now. She believes it will be at least another 20 years before fossil fuels are our main source of energy.

Summary of interviews: I have learned from the people that I interviewed that the impact of fossil fuels on the environment is not common knowledge, and most people want to know more about it. The majority of the people I interviewed don’t support the use of fossil fuels but believe it is our only option right now. The majority of the people I interviewed want to see a change to an alternative way of obtaining energy, but don’t think it is a real possibility. It was interesting to see the elderly throw out the idea that the government is needed in order to create a change, as I had never thought about it but that would be very beneficial. Also, the elderly man felt like a combination of solar, wind, nuclear, and hydroelectric power would be a better option than fossil fuels, which I agree with once they create an efficient way to make that happen. From their answers, I got the feeling that most of these people cared about the environment and were worried about the future, but didn’t feel as if they could do anything to help the cause.

6A

Economic Trends:

1.    Limit climate change by shifting from fossil fuels to solar power

A.  “The insurance industry ranked climate change as the top risk for 2019. Research from the Richmond Fed estimated that it will reduce U.S. economic growth by 30% over the next century” (https://www.thebalance.com/us-economic-outlook-3305669). 

B.   Climate change is significantly impacting the economy by creating more natural disasters, rising sea levels, and increasing wildfires. These are problems that cannot be fixed in a short amount of time, but humans directly affect climate change and can change their ways in order to limit it.  The use of excessive fossil fuels has a direct impact on climate change, while solar power is a more environmentally friendly alternative that is realistic.

C.   The prototypical customer of this opportunity would be humans in general, as everyone is equally as responsible for the environment.

D.  I would say this opportunity is not relatively easy to exploit because of the amount of money the US currently spends on fossil fuels, which is 37.5 billion. This shift to solar power wouldn’t be immediate as it would take time to cautiously make the transfer over, but once people start to see the difference in the economy the shift would become easier.

Why did you see the opportunity?

·      I formed this belief that an opportunity exists for shifting from fossil fuels to solar power because I feel like it is a realistic change, while other individuals may not. The US has depended on fossil fuels for so long that I believe people feel it is the only way to get energy. Solar power is a renewable resource that is a reliable alternative for fossil fuels. I have researched this topic before because I care about it and its potential positive impact on the environment, so I believe it is more of a priority than most people would. Climate change creates huge problems for the economy and using more solar power would only help this situation.

Economic Trends:

2.    End trade war with China by creating a new status quo

A.  Since the US is such a major global power, the trade war has had serious negative effects on this nation, including weakening our GDP and reducing our access to China’s products, which we depend on. (https://www.thebalance.com/trade-wars-definition-how-it-affects-you-4159973)

B.   The trade war between China has not been as successful as originally thought to be, as the US economy has taken a hit because of it. Demands for US goods have decreased, workers are being laid off, farmers are directly impacted, and it has created unpredictability for US businesses. There is an opportunity for the US to end the trade war and create a status quo with China in order to allow trade flow to resume.

C.   The prototypical customer of this opportunity would be farmers specifically because of the direct impact, but the trade war affects everyone in the US and China.

D.  The opportunity is not relatively easy to exploit because of how long the trade war has lasted, but it is possible and should strongly be considered after seeing the negative effects it has had on the US economy. In my opinion, ending the trade war would not please everyone, but it is the best step to getting the US economy back to its full potential.

Why did you see the opportunity?

·      I formed this belief that an opportunity exists to end the trade war with China and create a new status quo because the trade war has created more negative effects than positive ones for the economy. Some people may not think an opportunity exists because of how long the trade war has lasted or how complex it is, but I believe prioritizing the economy is very important. The US is already one of the global powers, which is why I believe it is best to worry less about controlling tariffs and more on the US economy. There is an opportunity for the trade war to end and the US to stop the negative impact it is having on the economy; it just comes down to what the US prioritizes.

Regulatory Changes:

1.    Legalization of marijuana

A.  Legalizing marijuana would create jobs, dismantle the black market, improve the quality and safety of marijuana, increase tax revenue, make medicinal cannabis available, and allow police to focus on more violent crimes. (https://honestmarijuana.com/legalization-of-cannabis-pros-and-cons/)

B.   The states that have already made marijuana legal have flourishing economies as a result of the regulation change. This makes the opportunity of Florida and other states making marijuana legal a strong possibility.  The majority of the public already supports this change as the positive impacts it has have already been proven in other states.

C.   The prototypical customer of this opportunity would be workers (as it would create more jobs) and people who have medical issues. Legalizing marijuana would positively impact both of these customers and would boost the economy as a whole.

D.  I would say the opportunity is relatively easy to exploit because of the examples of other states already making this change. It was slow at first, but once people adjusted to the change the economy was rewarded in a big way. Also, there wouldn’t be a large backlash for this decision because the majority of the public supports the legalization of marijuana.

Why did you see the opportunity?

·      I formed this belief that an opportunity exists to legalize marijuana because of the positive effects it has had on people I know from other states and the research I have done on the impact it has had on other states economies. I believe the pros easily outweigh the cons and this regulation change would significantly increase the state of the economy. I have had this debate with a lot of people and the majority of people agree that it would benefit the economy a lot more than it hurts it. I feel as if the results have been proven in other states and the public wants it, then legalizing marijuana is a great opportunity for the economy.

Regulatory Changes:

2.    Enhancing data privacy through the creation of a framework

A.  The reasons I believe there is an opportunity to improve data privacy is because of heightened public awareness of the risks to consumer’s personal data, wide-scale breaches, and highly interconnected financial systems. (https://advisory.kpmg.us/content/dam/advisory/en/pdfs/2018/ten-key-regulatory-challenges-pov-v5-web.pdf)

B.   The world is becoming much more interconnected, which means the chances of consumer’s data and resources getting breached is at an all-time high. It is extremely important to protect consumer’s personal information, which is why there is an unmet need to enhance data privacy.

C.   The prototypical customer of this opportunity would be everyone in the US, possibly everyone globally. 89 percent of US citizens prioritize protecting consumer data, which would lead to the belief that they would support the creation of a framework that governs data privacy.

D.  This opportunity would probably not be easy to exploit as it is a complex process to account for all the systems in the US, or possibly even globally. The creation of a framework that controls data privacy would not be immediate, as it would take time to adjust and make sure the system is reliable and safe. I believe long-term it would be very successful as more and more customers feel that their personal data is fully protected.

Why did you see this opportunity?

·      As of right now, there is not one overarching regulation that oversees data privacy. In today’s age of technology, this is a huge problem because of how easy it is to access people’s information. The majority of people prioritize data privacy which is why the creation of a framework that increases data privacy is much needed and would be well supported.  Some people may not see this as a liable opportunity because of how complex the process would be, but with the risks being so high it seems necessary to have data privacy as secure as possible.