The
controversy over American overdependence on fossil fuels (Coal, oil, and
natural gas) has been a large part of American politics in recent years. We use
fossil fuels for the majority of our energy needs, like electricity, heating,
and fuel for automobiles. The world currently
consumes 400 quadrillion British Thermal Units of energy each year. (For
reference, a BTU can be compared to the energy and heat that is released by a
match.) Currently Fossil fuels are supplying an incredible 88% of this energy
demand.
There are several reasons why
fossil fuels are controversial. Firstly, they are non-renewable which means we
will one day run out of fossil fuel supply. Secondly, they have negative
effects on the environment. Burning fossil fuels contributes to global warming
by increasing the amount of Carbon Dioxide in the air. Burning fossil fuels
also results in air pollution. It is estimated that the soot emitted from
Coal-burning electricity plants leads to the premature deaths of 60,000
individuals each year. Lastly, fossil fuels like oil can be hazardous to the
environment like in the recent British Petroleum Oil Spill.
The government has started to
fund renewable energy projects in recent years. For example, in 2009 the
American Recovery and Reinvestment Act gave 16.8 Billion to the office of
energy efficiency and renewable energy to fund core projects. More recently, in
2012, renewable energy funding reached 257 billions dollars.
While funding is headed in the
right direction, it is my opinion that the rate of change towards renewables is
not yet fast enough. I believe that the government needs to not only increase
funding, but also allocate it in a more efficient manner. I believe that
renewable energy companies need more government funding in order to compete
with fossil fuel companies that have had years to build a large capital base.
If we do not increase government funding of renewables, then the private
markets will side with fossil fuels simply because they are currently the
cheaper alternative. This is largely because private markets do not account for
the negative externalities costs caused by fossil fuels. The Government must
act and it must act fast.
(Source: US Department of
Energy).
No comments:
Post a Comment