The utilization for fossil energy in our modern economics has led to rapid growth in industries, agriculture as well as transportation. This has meant that the present world is very different from early 19th century when fossil fuels first discovered. Not only have industrial processes improved as well as human health has significantly improved. This is why the current world population is greater than eight billion. Thanks to fossil fuels our modern economies have been able grow and expand at such a rapid pace that it has helped millions escape poverty and creating the environment that we are living in the present.
While there are many advantages of using fossil fuels, the use of fossil fuels has negatives. The process of producing fossil fuels can lead to regular pollution, and sometimes disastrous accidents. Recently the pond for coal ash fell over, burying 30 acres toxic Ash. Cleaning up the area will cost at most $825 million. In addition, 51 massive oil spills have caused damage from $860 million to $1 billion. If you’re in the dark about the environmental cost then you’re not paying attention to the economic cost of using fossil fuels.
As we transition to a non-fossil fuel-based economy, we should not ignore the advantages from fossil fuels within the modern economy. If we keep advancing in energy efficiency, we will be able to easily and effectively shift to a non-carbon fuel. This will require a significant amount of infrastructure investment. Procurement through public procurement R&D budgets and incentives for tax must be utilized to promote this transition. In no doubt, the fossil fuel era will end once new, cleaner energy sources are discovered. However, it’ll be too late to avoid irreparable destruction to the planet.
It is important to understand the cost of the use of fossil fuels in our modern economy and make steps to tackle it. But fossil fuels are driving the global economy at the rate they are currently. If there is no credible and real climate change story fossil fuels continue to be the mainstay of the global economy. In the meantime there is no agreement on the political implications of climate change and the usage to power the world economy with fossil fuels. In the meantime, there is the business as usual crowd who believe that scientists who study climate have exaggerated the dangers and are not considering the actual dangers.
Although fossil fuels have numerous positive effects for the planet, there’s an unintended consequence as well. The fossil fuels that are used can result in carbon dioxide and methane emissions that contribute to climate changes. Although fossil fuels can be utilized to power electric and automobiles but they are not sustainable for the long-term well-being of our planet. This is the reason we should switch towards renewable power as quickly as we can. This is the single most important step to a greener future.
Although renewable energy sources like solar and wind power are beneficial to environmental protection, they don’t take the place of coal, oil and other major source of power. Indeed fossil fuels comprised almost half of the energy consumption in the world in 1900, which is quite an achievement. Coal is a very solid, clean and abundant resource. It has 3 times more energy than dry wood. It is also readily accessible and is a popular choice for ships and locomotives.