The energy requirements of the modern world are fulfilled by the use of oil. Oil is said to be running the modern world. Oil is used in the form of gasoline, kerosene and diesel for a variety of purposes. The reason is that oil is available in the world in abundance and can be easily obtained.
Oil is used for transportation. It is also used in the manufacturing process of plastics, medicines, paints and many other materials. Oil also forms the base of petrochemical industry.
Oil has several characteristics that make it so popular for use. It is easy to transport, readily available, safe and versatile. However, oil is a finite resource. This means that there will come a time when no oil reserves will be left in the world. The cost of obtaining oil will exceed the benefits that it presently provides to the mankind. This will lead to an energy crisis which will be met by the use of alternative energy.
Alternative energy refers to those energy sources that will always be available for use on the earth. Alternative energy refers to all those sources of energy that will be used in place of oil to meet the energy needs of the future. The use of alternative energy will result in sustainable growth. However, the switch over from oil to alternative energy will require a lot of time and investment.
Alternative energy is the only way to meet the increasing energy demands and so methods must be developed to reduce the costs of moving from oil to alternative sources of energy.