In the past 250 years following that revolution in industrial technology, usage in fossil-fuels profoundly transformed the world. The reality was quite depressing. The life expectancy for the average person was 40 years old, the work week was long and disease was prevalent and the vast majority of people lived without frills. Thanks fossil fuels our lives today is much better. Find out how fossil fuels have transformed the world.
Americans have spent more than $900 billion for fossil fuels, which amounts to about 7 percent of the nation’s total gross domestic product. This is more than what the country spends on its education and military combined. Although the price to use fossil fuels decreased in recent times due to the continuing effects of the recession and the lingering effects of the recession, fossil fuel expenses will likely exceed $1 trillion in 2030. This means that in 2030, the United States will spend $360 billion annually on fossil fuels, mostly oil.
The rise in financial support to fossil fuels is triggered partly by the massive bailouts of state-owned energy and oil companies. This support is eventually more structural, which will hamper efforts to reduce the use of fossil fuels. However there is a consensus that the OECD insists that if governments stop their support of fossil fuels, they must increase their public investment in green energy. With the transfer of the most advanced technology to developing countries and developing countries, the world could reduce its dependency of fossil fuels.
Another option for solving the current issue with global warming may be the storage and capture of carbon. While renewable energy sources might be suitable to replace fossil fuels however, they’re not able to completely substitute every energy component. Storage and capture of carbon (CCS) is the opportunity for present needs to be met and also allows the opportunity to design future strategies. But , it is far from perfect. At present it is true that the use of fossil fuels is a vital element of the global economy, however there’s still a myriad of issues to be faced.
In the end, people are spending more which is increasing the demand for energy and an increased requirement to use fossil fuels. China is an example. It is developing a coal-fired power plant at least every 2 weeks. This increase in energy demand has led to a rise in greenhouse gases, which result in global warming. This trend is expected to persist in the long run as we continue to build these industries this is good for our earth and the environment.
Utilizing fossil-fuels have opened up a variety of opportunities for mankind. These plants from the past turned into fossil fuels at extreme pressure and temperatures over thousands of years. The fossil fuels have enabled humans to extract more energy than what the sun can generate. As a result, it’s not a surprise that the health of humans has significantly improved in the last century. The fossil fuel industry has changed the world. It is the foundation for the world economy.
Although biofuels offer many advantages however, they do have some issues. One of them is that biofuels compete with arable land along with food production. This makes them harder to create. On the other hand the fuels made from crops and municipal waste has lowered on the footprint carbon of fossil fuels. However, there are major issues that remain. Biofuels aren’t yet efficient in terms of cost. However, they offer the potential of improving our environment as well as our energy sources.