Fossil Fuel And Its Effects On The World Economy - 1932 Words

In the current era, fossil fuel is a necessity in our everyday life, for not only it is used as an energy source, but also due to the high rate of dependability on the fuel itself. The recent drop in oil prices caused an enormous impact on the world economy, especially to the countries that are highly dependent on the fuel industry. The United States also are affected by this situation. One suggestion and a major change, in order to reduce the high dependency on the fossil fuel and to overcome the problems related to the usage of fossil fuel, is to start the wide use of biofuel as the fossil fuel replacement. The impact of this change, and also a huge improvement, not only will help to stabilize the economy, but also can help in reducing the greenhouse gases in the atmosphere. Biofuel is a fuel produced from any fats sources, obtained from either animals or plants, and is a renewable and environmental friendly source of energy. How can we say the biofuel is environmental friendly? Ac cording to Vasudevan, Palligarnai T and Michael Briggs: Since biodiesel is made entirely from vegetable oil or animal fats, it is renewable and biodegradable. Biodiesel also contains very little sulfur, polycyclic aromatic hydrocarbons, and metals. Petroleum-derived diesel fuels can contain up to 20% polycyclic aromatic hydrocarbons. For an equivalent number of carbon atoms, polycyclic aromatic hydrocarbons are up to three orders of magnitude more soluble in water than straight chain aliphatics.Show MoreRelatedAlternative Energy Sources Of Fossil Fuels1701 Words   |  7 PagesRevolution in 1760, the world has run on fossil fuels. Fossil fuels are critical to global energy infrastructure due to their inherent advantages and generate significant economic value as a result. However, the negative economic and environmental implications of fossil fuels demands a permanent transition towards alternative energy. The world will continue to investigate alternative energy sources and must commit to them to avoid long-term environmental degradatio n. Ultimately, fossil fuels are on the wayRead MoreEssay On Carbon Tax1128 Words   |  5 Pagesare against the carbon tax. Limited alternative fuel sources, our country’s economic competitiveness, and the potential to hurt our economy are all reasons why some Canadian citizens are against a carbon tax. First, some people believe that we should not enforce a carbon tax if there are no alternative fuel sources readily available. Kevin Ferguson, of Waterloo, made that point when he stated that rural Ontario has no other alternative to fossil fuels. (Ferguson, 2016). He figures affected CanadianRead MoreRenewable Resources1344 Words   |  6 PagesSection 2542-02 24 November 2008 Renewable Resources Has the time come for the world to give up on what it’s relied on the most, fossil fuels? â€Å"Oil fuels the modern world. 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What will happens when the world runs out of fossil fuels? Renewable energies have the power to save our environment and change the world as we know it. Fossil fuels are not going to last forever. America has already started to implement renewable sources of energy, such as, wind mills, dams, solar power and nuclear power. Eventually we will need to utilize these resources in areas that are dependent on fossil fuels. FossilRead MoreEssay On Carbon Taxes1298 Words   |  6 PagesSocial Costs Carbon taxing coal-based products, in a revenue-neutral way, will help discourage overuse of fossil fuels. The United States needs to reduce carbon emissions in order to avoid the costs that pollution and climate change inflict on the general economy and individuals. Carbon, unlike other commodities exchanged and consumed in the free market, bears unique costs to the general economy that its market price does not encompass. The pollution we create when we consume carbon contaminates ourRead MoreAlternative Energy And Renewable Energy1668 Words   |  7 Pageselectricity are in every facet of our daily lives. Due to this, we overlook several negative effects our traditional use of fossil fuels have caused. Fossil fuels are fuel deposits that were formed hundreds of millions of years ago, which is where the term fossil fuels come from. The two most common fossil fuels currently in use are coal and oil, which power the majority of our infrastructure. However, fossil fuels are known to have some drawbacks which is where projects for alternative energy come into