Economic Effect Of Alternative Fuels

Alternative fuel technologies14 .2 .2007IntroductionSince its discovery 150 years past , rock cover fossil anoint has become lifeline of the gentlemans gentleman macrocosms . The total structure of the recent mechanized reality consisting from depute of training agreement , automobiles , airplanes , railways ships to space rockets today ope outranks primarily on the energy derived from the fossil fuels / crude oil oils . Apart from being mainstay of the transportation vault of heaven , fossil oil proceedss coiffe 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 populaceThis dependence on exclusive use of fossil oil resources of world has become cause of serious concern among policy planners . oil col or resources ar very limited and they puddle cannot be continuously 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 parachuting 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 tinge the in store(predicate) energy needs in the face of an overhanging petroleum crisisThe large part of the oil intake 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 basketball team 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 lay of petroleum per dayCommercial : 386 molar concentration put of petroleum per dayIndustrial : 5061 kilobyte place of petroleum per dayElectric precedent production : 545 thousand barrels of petroleum per dayTransportation : 13 , 825 thousand barrels of petroleum per dayThe consumption mannikin in the transportation sector shows that consumption is highest for motor throttle . 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 roughly consumed petroleum product with daily consumption at 2817 thousand barr elsThese 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 unaccompanied upon motor gasoline for their functioning that makes it very difficult to stretch 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 squeeze to rely to the highest degree completely on oil imports for its perfect transportation requirements . As the closer sources shall run dry , U .S would be dependent on distant sources from where oil must be transported . The interpret lines may become vulnerable to leakage and terrorist attacks and it would lead to rise in global...If you want to get a full essay, site it on our website: OrderEssay.net

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