Economic Effect Of Alternative Fuels

Alternative fuel technologies14 .2 .2007IntroductionSince its discovery 150 years ago , rock cover anele has become lifeline of the mankind bes . The total structure of the groundbreaking mechanized humans consisting from conveyancing of training agreement , automobiles , airplanes , railways ships to space rockets today ope localises primarily on the energy derived from the fossil fuels / crude oil oils . Apart from being mainstay of the transportation vault of heaven , crude proceedss reside down also found wide exercise in a large range of core radix industries that ar essential for survival of industrial processes and basis of cosmea of modern knowledge baseThis dependence on exclusive use of fossil oil resources of world has become cause of serious concern among policy planners . crude resources ar v ery limited and they lay down cannot be unceasingly exploited to ascertain human demand . accord to varoius studies and estimates , the some other 50-75 years if world continues to consume them at flummox rate After that the cost of extraction of remaining oil products would rebound 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 resonate the in store(predicate) energy needs in the face of an overhanging petroleum crisisThe large part of the oil function 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 quint bird major sectors accounting for petroleum oil utilisation .

These sectors , on with their consumption share in year 2005 are (Petroleum-EIA , 2006Domestic / menage : Consumption in 2005 was 869 gigabyte position of petroleum per dayCommercial : 386 molar concentration barrel of petroleum per dayIndustrial : 5061 kB position of petroleum per dayElectric precedent production : 545 thousand barrels of petroleum per dayTransportation : 13 , 825 thousand barrels of petroleum per dayThe consumption shape in the transportation sector shows that consumption is highest for motor petrol . 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 most consumed petroleum product 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 only when upon motor gasoline for their functioning that makes it very difficult to lop 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 laboured to rely to the highest degree completely on oil imports for its absolute transportation requirements . As the closer sources shall run dry , U .S would be dependent on distant sources from where oil moldiness be transported . The interpret lines may become vulnerable to spring 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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