Status of Fossil Energy Resources: A Global Perspective

Abstract This article deals with recently status of global fossil energy sources. Fossil energy sources have been split into three categories: oil, coal, and natural gas. Fossil fuels are highly efficient and cheap. Currently oil is the fastest primary energy source in the world (39% of world energy consumption). Coal will be a major source of energy for the world for the foreseeable future (24% of world energy consumption). In 2030, coal covers 45% of world energy needs. Natural gas is expected to be the fastest growing component of world energy consumption (23% of world energy consumption). Fossil fuel extraction and conversion to usable energy has several environmental impacts. They could be a major contributor to global warming and greenhouse gases and a cause of acid rain; therefore, expensive air pollution controls are required.