There is a lot to worry about these days – war in the Middle East, the American job market, the crumbling of the Euro, just how low Facebook stock is going to drop. One thing we do not have to worry about however are fuel shortages.
The major concern has been that mankind was going to run out of oil. Granted, running out of oil is still a major problem but a problem that has been lessened by human ingenuity in the form of budding alternative fuel markets like natural gas, wind, and solar.
Additionally, thanks to the poor economy people have cut back on oil consuming activates. This means that for a change there is a surplus of oil and gasoline. This decline of oil uses over the last five years has reversed decades of uninterrupted growth – growth that had made the United States the world’s top energy consumer.
With is budding alternative fuel market the question remains, what alternative fuel will win out? Right now it seems that natural gas is leading the way; however natural gas and the controversial fracking technique provide their own set of issues. Vermont has gone so far to limit fracking practices within the state recently.
The controversy surrounding natural gas aside, with less American gasoline demand and a growing gasoline surplus and strong American refining capacity, the United States is already exporting gasoline and diesel and is now the top exporter of refined products, just ahead of Russia. The good news continues as some analyst report that by 2030 the United States could be exporting 500 million tons of coal a year, 3.2 billion cubic feet a day of natural gas and 2.5 million barrels a day of oil products.
Time will tell if these predictions do come true. Sound off in the comments below if you think the concern over fuel shortages are a thing of the past.