Oil Alternatives

Fossil fuels are non-renewable resources. Therefore, as these resources run out, it is necessary to look out for other alternatives that don't require fossil fuels. Some oil alternatives are wind energy, nuclear energy, water power, bio fuels, solar energy, tidal energy and fuel cells. The important point is that the alternatives should be clean, create less negative externalities like pollution.

All the alternatives have some negative externalities ,bio fuels still emit green house gases, wind energy acts as bird killers, nuclear energy disposes nuclear wastes, dams kill fish, solar energy needs tropical climate, require huge investment, tides create corrosion problems to the equipment and require long time of investment, Fuel cells have hydrogen tapping problems. But all these alternatives have lesser negative externalities than oil.

As of now, bio fuels can be used as an alternative to the oil, because it is readily available resource with lesser costs involved. Water is becoming a limited reserve as rivers are getting dried up. Untimely floods are adding more wounds to the existing problems. Building dams and tapping energy from them is becoming non-profitable for industries. By the year 2020, commercial fuel cell vehicles come on to the roads. As of now many companies are inventing new vehicles which run by fuel cells safely. Fuel cells can also act as emergency power systems.

Even though solar power plants involve huge cost initially, it gives good profits afterwards. Nuclear power provided 6% of the world's energy and is one of the good alternatives for oil. Nuclear power plants require high capital costs but low fuel costs. Similarly, wind power has negligible fuel costs and high capital costs. As wind power creates lesser negative effects, governments are giving incentives for this sector and this is one of the best alternatives in the long term.

Therefore, to have the best future for oil alternatives, the governments of all the countries should subsidize the production of these clean alternatives.