Areas that were once rich in oil are drying up and new land is being searched for possible oil reserves. According to the 2008 BP Statistical Review of World Energy, the United States is the largest consumers and importers of oil worldwide.[1] Gasoline accounts for 46% of uses for petroleum. Other nations, such as China, are showing rapid growth in consumption as well. Still the United States remains as the highest consumers of oil at over 19.5 million barrels per day, which is higher than the entire European Union.[2]
Thus assuming the world consumes at our current rates, there is enough world petroleum reserves to last for 40 years reports Technical Editor Margery Conner of Electronic Design, Strategy, News.
The article points out four key points:[3]
1. Two-thirds of oil reserves are in the Middle East
2. The fossil fuel that’s seen the fastest increase in consumption is coal (because certain power stations rely on coal, and are being built in China and burning creates more green-house gas emissions than any other form of energy)
3. The world’s proven reserves of natural gas rose, and are enough to provide more than 60 years of current consumption
4. Some economists say oil is already and its peak. However BP says, “We don't believe there is an absolute resource constraint. When peak oil comes, it is just as likely to come from consumption peaking, perhaps because of climate change policies or for some other reason, as from production peaking."
For years the public has been aware of the issue at hand. As a result, the public sphere has become more concerned and attempts for viable solutions are being found. However, the effects of oil are felt worldwide. Oil spills cause harm to the oceans, wildlife and environment as a whole. The drilling for oil and implementing of pipelines causes land and habitats to be destroyed. Petroleum is one of the highest contributors to global fossil carbon emissions with coal a close second.
Because of the public sphere’s concerns, there has been a rise in solutions to ease the problem as well. Alternative-fuel vehicles are being researched everyday. The use of Hybrid cars helps alleviate some of the effects, but these cars still use fossil fuels. Thus, car companies are looking into hydrogen-fuel cell based vehicles. These cars have their own energy generating power plants on board with zero carbon emissions. It fuels up with hydrogen and the only byproduct is water (hydrogen plus oxygen equals water). Solutions such as these help move along the process to a cleaner future. It is important to realize the impacts the oil industry has. Its reach influences economic issues including environmental ones. Individuals must take it upon themselves to do their part and reduce their carbon footprint.
The future of motoring:
Sources:
2. www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html
3. www.edn.com/blog/1470000147/post/1030010703.html
