The price of fossil fuels has recently decreased significantly. If this price continues to decline, this fuel will become the preferred use, so that it can interfere with the development of renewable energy resources, including electric cars.
What do you think about the prospect of fossil fuels for the next 10 years?
Please give your opinion and comments.
Thank you very much.
Best Wishes.
Dear Pushkin Sergey Viktorovich , Zahid Fazal , Irfan Khan , Joseph Stroud , and Mubashir Ali Rather ,
Thank you very much for your reply and valuable contributions.
Have a nice time.
Best regards.
I think even though the use of renewables is expected to grow faster than fossil fuels in 2030 (Australia will generate 495GW and China has 149GW), the US Energy Information Administration (EIA) says coal, oil, and natural gas will still account for 77% of our energy in 2040.
In spite of the negative environmental impact of the fossil fuel, but the needing is still for next years especially with declineing its prices now, as well as the available RE technologies are suffering from some essential challenges like unstability of resources, Energy storage, highly cost for some technologies, awareness of RE culture, but for long term I think the sharing ratio of RE in energy mix will increase sharply over the world.
Dear Yasser A. Jebbar and Naseer K. Kasim ,
Thank you very much for your reply. What do you think about the prospect of fuel oil for the next 10 years?
mainly It depends on the results of corona virus treatment, but I think the needing is still for next ten years and the prices will increase again to reach the average (50$/barrel).
I think in the next 10 years it will decrease energy demand, because of increased efficiency in the use of energy and also I think the price will be changing (30-40 $/barrel) mostly.
With my point of view you can acquaintance in the attached article.
Dear Yasser A. Jebbar and Serguei Tikhonenkov ,
Thank you very much for your reply and share.
Now the price of oil nearly USD/barrel....
Think about it! Not all "fuels" or "sources of energy" are equivalent... Yes we have replaced wood and coal in our homes with natural gas and electricity... etc etc... but for the foreseeable future airplanes will require aviation fuel (hydrocarbons)and military vehicles remain largely gas/diesel. And hydrocarbons will be needed for synthetic materials (plastics etc). And large scale storage options for the renewables -read batteries- are coming down in price but still relatively expensive. As something to think about, the advent of the computer was supposed to reduce the amount of office paper... take a look at the history of office paper demand!!! Perhaps you may wish to re-phrase your question.
I do agree with the comments mentioned in the link below:
https://www.weforum.org/agenda/2017/10/fossil-fuels-will-dominate-energy-in-2040/
Dear Martin Cooper and Harasit Kumar Paul ,
Thank you very much for your kind reply and share.
Best regards.
Fossil fuel cars are not the problem; it is the number of people driving them.
Lou
Dear scholars, please give your reply.
Thank you very much.
Best Regards.
This is largely due to the fact that renewable energy sources such as solar and wind are becoming more cost competitive compared to traditional fuels, while newer fuels such as hydrogen are also becoming cheaper and gaining traction. In the last decade alone, the cost of solar generation has dropped by almost 90%, and for wind by almost 70%, thanks to huge advances in technology.
Platts hasn't updated its oil forecasts, but a recent report from another energy expert paints a bleak picture.
According to a report by the International Energy Agency (IEA), oil demand will stabilize in 2030 and enter a final recession phase, giving renewables a dominance.
According to Platts, coal's current 21% share of generation is likely to drop to 5% by 2030, assuming the final carbon price starts in 2026. In this scenario, wind and solar generation could increase from the current 11% in the generation structure to 30% in 2030.
Regards, Sergey
If the number of electronic cars and machines are increased and prices degrade the definitely the burden on fossil fuels decrease.
Just think the other side, when the prices of fossil fuels were on the higher side, fossil fuels' consumption remained even higher side. So due to its price issues, the consumption of fossil fuels will not increase, maximum it will generate a temporary structure break in the development of renewable energy.
It is really obvious that fossil fuel use will continue well into this century. The amount of money invested in coal, oil and gas by the major petroleum industry companies is massive and they need to see their capital returned with profit, no matter the consequences.
The way we r exploring biosphere ant its resources currently ll defintly retaliate. The resource ll definitly exhaust sooner or later.
Dear Pushkin Sergey Viktorovich , Zahid Fazal , Irfan Khan , Joseph Stroud , and Mubashir Ali Rather ,
Thank you very much for your reply and valuable contributions.
Have a nice time.
Best regards.
The price decline and price hike of petroleum products (fossil fuels in general) are often governed by global economics and politics. Their changing trend hasn't remained constant over longer duration in the past, and most probably it (price decline) won't remain so in the future. Hence, people will prefer the more convenient one if they have a choice between fossil fuels and other alternative sources of energy.
Thanks dear Kamal Prasad Sapkota for your reply.
Best regards,
Nazar
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