Energy Markets
Global energy demand has been increasing for more than a century, with no end in sight. The burning (or combustion) of fuels is a major source of energy today, as it has been throughout history. Over the last century, the use of portable combustible fuels such as propane, natural gas and diesel have become particularly widespread due to their convenience, high energy density and low cost. It is unrealistic and unnecessary to abandon this type of fuel given the huge demand and the tremendous infrastructure that has been developed to support its use. However, it is important that we improve the fuels we use in an effort to reduce the negative consequences that result. The supply of fossil fuel is limited, prices have been extremely volatile and the environmental consequences are significant and costly. This trend will continue as population continues to grow and industrialized countries continue to depend on fuel to drive their economies, and developing countries adopt mechanized and motorized ways of living.
The use of fossil fuel also has implications for future generations that go beyond cost. When fossil fuels are produced and consumed, they result in pollution. Whether or not you believe in climate change theory, pollution negatively affects human health. Any supplement or substitute for petroleum or natural gas must be on balance, ecologically safe and economically sound.