The extraction and extensive usage of energy has always had harsh ramifications on the environment. The negative effects of this excessive use has not remained within specific boundaries, but has moved beyond. Today, the global consequences of the upstream and downstream sectors in hydrocarbon industry are much visible. Severe implications of energy business like drilling, oil spills and gas flares could be seen as damaging factors around the world. Negative impact such as earthquakes, acid rains, health hazards, mass displacement and degrading land and river streams has been noted time and again. The paper intends to address the issue of extensive energy usage, which denies slowing down worsening its impact on environment. The central theme of the paper is that, the increasing consumption markets have globalized the energy business in all direction, further discussing the concerns that lie from the start point of extraction to finally reaching the end user, challenging the environment. A paradoxical shift in the energy consumption has resulted in the century’s biggest eventualities called global warming. Hence, the necessity for safeguarding the environment is being felt globally, specifically to reduce greenhouse gas emissions, one of the major causes of climate change. The paper provides a brief discussion on hydrocarbon independence, which has brought alternative energy sources under debate. The paper attempts to review the global economic growth with the energy use, while promoting a sustainable development