Global Assessment of Energy Potentials - 617 Words

Global Assessment of Energy Potentials The future of fossil fuels is a critical component of the future of all humanity. The demand for fossil fuels in consistently growing globally as the population expands and more economies worldwide become development. Despite the rising demand for fossil fuels, the supply is relatively fixed. However, through advancements in technology in regard to extraction of the total supply of fossil fuels, new energy sources are continually being identified. The most salient example of new forms of extraction is that of the technics that are being used for Shale gas reserves. Shale gas is in abundant supply however it requires new forms of extraction in order to be economically justifiable. The unconventional development of shale gas extraction methods is estimated to be able to meet the growing demand for global energy (Gregory, Vidic, Dzombak, 2013). The Energy Information Administration (EIA) projects that natural gas that is extracted from shale forma tions will be the key component in meeting energy demands in domestic natural gas production through 2035, growing from 16% of supply in 2009 to 49% in 2035 which will also work to offset the declining production of other fossil fuel sources whose reserves are limited and steadily declining. The extraction of natural gas through new processes is one of the key developments in energy that will work to define the future of the energy supply. As traditional sources are steadily consumed, theShow MoreRelatedThe Future of Potential Energy Sources633 Words   |  3 PagesFuture of Potential Energy A lot of factors must be considered when it comes to assessing the potential of renewable energy for economic sustainability bearing in mind that the energy sector is continuously growing. 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