The energy markets are in the midst of a revolution. Whilst vulnerabilities in trading were exposed by unusually extreme weather conditions, the pandemic and other such factors, we continue to see the socio-political push towards cleaner fuels and in some extreme cases, attempts to completely disassociate from the use of fossil fuels.
Looking into our world and life around us without bias, fossil fuels are in every aspect of our lives. This old, but still relevant, article provides an interesting insight into how thousands of everyday items contain fossil fuel in one form or another.
Yes, the vast impacts of greenhouse gas (GhG) on the environment are from direct use in the transportation and energy production sector. However, one has to understand the chemistry behind the production of some of these products and realize that some of the refined products used in other sectors cannot be increased from a barrel of oil or a ton of coal. The remainder will be in the form of various energy products such as gasoline, naphtha, and fuel oil.
We have to be cognizant about the needs of manufacturing large quantities of those products, and until we have a high majority of those products being produced without fossil fuel based ingredients, our dependency on fossil fuel will continue.
So, let’s start the New Year as we mean to go on: say yes to cleaner fuel, EVs and renewable energy. And yes to fossil fuel.
Until we can find a suitable replacement for each feedstock across all industries. Happy New Year, readers!