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Fossil Fuel in the World - Case Study Example

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The paper entitled 'Fossil Fuel in the World' presents fossil fuels which will increase in the next 30 years, it is expected that global energy requirements will increase. Since fossil fuel is the tested and long used resource for energy generation purposes…
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Fossil Fuel in the World
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Download file to see previous pages It is critical to note that fossil fuel due to their abundance, low cost, durability as well as quality has remained the most preferred energy source of the world. Over the period of time, large and heavy capital intensive investments were made to set up the infrastructure to extract, clean and refine fossil fuels for consumption purposes. However, the overall pace of industrial development, potential pollution, and health-related issues, as well as the sustainability of earth’s resources, has made it relatively important for the developed world to look for alternative sources of fuel. (Richards, 2009)
The use of fossil fuels not only results in health-related issues but also puts a strain on the existing energy resources of the world due to heavy dependence on fossil fuel as the preferred source of energy.
European Union, in its future plans, puts an emphasis on the member States to actually look for alternative ways of sourcing the energy. The plan includes a comprehensive detail about the steps and processes to be adopted by the Member States to actually invest and develop the infrastructure for the development of alternative energy resources in order to reduce the dependence on fossil fuels.
These efforts indicate that the governments, at a global level, are aware of the importance of alternative fuel sources. It is also critical to note that some disruptive changes are taking place in the energy industry which is re-shaping the way the overall policy framework for the use of fossil fuels may shape in the future. There has been a renewed emphasis by the International Monetary Fund also to end the subsidies related to fossil fuel consumption as well as utilization as an energy resource. This has been done in order to ensure that the reliance on the fossil fuels is decreased while at the same time discouraging the excessive use of fossil fuel. ...Download file to see next pagesRead More
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