Table of Contents
What is an alternative energy source for oil?
The main alternatives to oil and gas energy include nuclear power, solar power, ethanol, and wind power.
Why we should use alternative fuels?
Alternative fuels are derived from sources other than petroleum. Most are produced domestically, reducing our dependence on imported oil, and some are derived from renewable sources. Often, they produce less pollution than gasoline or diesel. It produces less greenhouse gas (GHG) emissions than gasoline or diesel.
How important is it to explore alternative forms of energy?
Alternative energy sources have a much lower carbon footprint than natural gas, coal, and other fossil fuels. Switching to renewable energy sources to produce electricity will help the planet by slowing and reversing climate change.
What oil companies are investing in clean energy?
For instance, Chevron, ExxonMobil and Shell (all of which have intensity-based emission reduction targets) have started sourcing renewable electricity to power their oil and gas operations by signing long-term PPAs with renewable energy companies.
How does oil production affect climate change?
As a fossil fuel, its combustion contributes to polluting emissions, especially of carbon dioxide, one of the most dangerous of the greenhouse gases. Human contributions of greenhouse gases have modified the atmospheric greenhouse layer, which plays an important role in moderating global temperatures.
How does oil cause global warming?
Even though new technology has addressed some of these problems to various extents, of most serious impacts of petroleum use is on global climate change. As a fossil fuel, its combustion contributes to polluting emissions, especially of carbon dioxide, one of the most dangerous of the greenhouse gases.
What are the alternatives to oil and gas energy?
The main alternatives to oil and gas energy include nuclear power, solar power, ethanol, and wind power. Fossil fuels still dwarf these alternatives in global and domestic energy markets, but there is considerable public momentum to increase their utilization as industries shift towards sustainability and more green business practices.
Is the future of oil and gas companies in the transition?
Amidst a global energy transition, the demand, financial, and social future of oil and gas companies is increasingly in question. However, even with these obstacles, oil and gas remain an important part of the energy mix, especially in developing regions.
How can oil and gas companies support the transition to electrification?
Where energy demand is growing rapidly, oil and gas companies can endeavor to support coal-to-gas switching and investing in infrastructure that enables electrification to meet end user demand and support lower GHG upstream operations.
Why don’t we use alternative forms of energy?
Alternative forms of energy have, to this point, proven to be uneconomic substitutes; they are less efficient and more expensive (or, in the case of nuclear power, completely restricted from expanding) than fossil fuels.