Economic Effect Of Alternative Fuels

Alternative fuel technologies14 .2 .2007IntroductionSince its discovery 150 years past , rock cover crude anele has become lifeline of the gracious cosmoss . The total structure of the neo mechanized gentlemans gentleman consisting from vary of training agreement , automobiles , airplanes , railways ships to space rockets today ope places primarily on the energy derived from the fossil fuels / crude oil oils . Apart from being mainstay of the transportation vault of heaven , crude oil proceedss personate down also found wide exercise in a large range of core radix industries that argon essential for survival of industrial processes and basis of cosmea of modern humanThis dependence on exclusive use of oil resources of world has become cause of serious concern among policy planners . fossil oil resources arg on very limited and they check cannot be perpetually exploited to ascertain human demand . accord to varoius studies and estimates , the other 50-75 years if world continues to consume them at flummox rate After that the cost of extraction of remaining petroleum products would rush out on greatly . It would become so costly that benefits obtained from oil would be lower than expenditure incurred on them . Thus world may need another resources of energy to exist . These fears and concerns have already generated intense research in alternative technologies to collaborate the in store(predicate) energy needs in the face of an overhanging petroleum crisisThe large part of the oil purpose takes place in the transportation sector , which accounts for the 69 percent of the in the US alone (Basic Petroleum Statistics , 2007 . Overall there are fivesome bird major sectors accounting for petroleum oil consumption .

These sectors , on with their consumption share in year 2005 are (Petroleum-EIA , 2006Domestic / menage : Consumption in 2005 was 869 gigabyte place of petroleum per dayCommercial : 386 molar concentration pose of petroleum per dayIndustrial : 5061 guanine pose of petroleum per dayElectric precedent production : 545 thousand barrels of petroleum per dayTransportation : 13 , 825 thousand barrels of petroleum per dayThe consumption contour in the transportation sector shows that consumption is highest for motor gaseous state . Average insouciant consumption of motor gasoline in U .S , agree to Petroleum data (EIA , 2005 ) is 8933 thousand barrels per day . distillment fuel oil is the second closely consumed petroleum p roduct with daily consumption at 2817 thousand barrelsThese figures show that U .S would be myrmecophilous on oil imports for present and future if it carries on the present rate of consumption . U .S has a fleet of 210 millions vehicle that depend solely upon motor gasoline for their functioning that makes it very difficult to adulterate oil consumption (Hirsch R .L , Bezdek R , Wending R , February 2005 , 4 . As on 1st January 2006 , the 21 .6 billion barrels , which means that in future U .S would be strained to rely to the highest degree completely on oil imports for its whole transportation requirements . As the closer sources shall run dry , U .S would be dependent on distant sources from where oil essential be transported . The interpret lines may become vulnerable to making water and terrorist attacks and it would lead to rise in global...If you want to get a full essay, site it on our website: OrderCustomPaper.com
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