The Rise and Fall of Fossil Fuels

March 8, 2010 - PRLog -- The main fossil fuels causing an impact on our environment are petroleum and coal. To produce energy from these fossil fuels they must be burned which in turn produces carbon dioxide. Just last year the EPA stepped in to regulate the burning of fossil fuels by labeling CO2 as a dangerous pollutant. CO2 is considered a greenhouse gas because it blocks solar radiation from escaping and in turn raises the temperature of the earth. Although some have overlooked global warming, the reality of peak oil is becoming evident. Studies are suggesting that the maximum rate of global petroleum extraction is close to being reached. With the world energy consumption continuing to grow and petroleum totaling 36% there is a real economic deficit present. In a deficit the demand outweighs the supply and the price for the good increases. The problem with a deficit of oil is that the world uses it to produce, run and manufacturer almost anything that generates a profit. If the price of oil increases the entire economy suffers.

Taxes and regulations are increasing fuel efficiency and leveling the playing field to make renewable energy cost more competitive. New vehicle mileage standards have already taken effect, and the higher price of oil has caused some to purchase more fuel efficient cars. With the money collected from taxing fossil fuels, new energy rebates are also being offered to home owners providing an incentive to have a more energy efficient home. Many companies have invested in research and development for higher efficiency and lower cost technology. DOW has recently released a “solar shingle” which can easily be installed on a roof using normal roofing nails. These thin film photovoltaic systems can gather energy from solar radiation and cut energy costs on your home upwards of 80%.

Major companies have invested in the research and development of renewable energy resources such as solar, wind and tides and because of their research new products are hitting the shelves packing more efficiency and lower costs. Zero net energy homes are becoming a real solution to the growing global need for energy. As the regulation, taxation and cost continues to rise the fall of fossil fuels will be replaced by a new and renewable energy source.

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