The State of Fossil Fuels in 2020

what is the current situation in the fossil fuel industry

Fourteen years on from ‘An Inconvenient Truth’ and facts and opinion about the use of fossil fuels have significantly changed. At the beginning of a new decade, it is a great time to take stock on what the news and discourse surrounding fossil fuels are. This article aims to give a very brief overview of the facts, for more information and news about fossil fuels, then it is always worth looking at websites like Fossil Fuel and others.

Fossil fuels have been and still are an integral part of society. They give power to countries that can provide them and are, most importantly, humanity’s primary source of energy. Of course, their use is the driving factor of climate change, and alternative sources of energy are continually being developed and deployed. People are now wary of their ‘carbon footprint’, and many people are doing their best to reduce the carbon emissions created by their fossil fuel use. That being said, fossil fuels are still the number one source of energy for almost every country.

I have collected a few interesting pieces of information that I believe will represent the current state of fossil fuels at the beginning of this new decade and also take a look at what could be in the future. So, let’s look at the state of fossil fuels in 2020;

The Facts

A quick look at the figures will tell you that fossil fuels are the primary source of energy for all our needs. As much as alternative energies have been on the rise in recent years, they are still a great distance away from taking the top spot away. Out of the three types of fossil fuels (oil, natural gas and coal), Oil and natural gas production are still on the rise, while the production of coal is failing.

Current News

As of April 21st, 2020, Oil prices are in the negative for the first time. This fall is due to the currently ongoing COVID-19 pandemic; It is also the result of a breakdown in contracts between countries. While this is unlikely the end of Oil production, the impact will linger for a while.

Alternative Solutions

More and more people are looking to alternative solutions to the use of fossil fuels. Some are installing solar panels at home, and others are seeking to reduce their carbon footprint by commuting to work in more eco-friendly ways, like cycling or even electric skateboards. The fact is people all around the world are making an effort to rely on fossil fuels less.

The Future

Hopefully, this article has given you an overview of the current state of fossil fuel as a business and as an energy source. People are predicting that the 2020s will be the last decade of fossil fuels, while others believe we are still a way off from saying goodbye to the production and use of thee fuels. The world is continuously changing, and events are always in flux, so the information here could change at any time. It is important to remember that fossil fuels cannot last forever and will run out eventually, and the planet is changing because of their use all the time.

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