Fossil Fuels

Peak Oil

the point at which global oil production reaches its maximum rate, after which production will gradually decline.

Hydrocarbons

organic compounds made of hydrogen and carbon, primarily derived from fossil fuels

Conventional reserves

of oil and gas that can be extracted using traditional drilling methods, typically found in large, easily accessible reservoirs.

Unconventional reserves

of oil and gas that require advanced extraction techniques, often located in less accessible areas or trapped in rock formations.

Connection between oil and economy

1. supply/demand influence energy adoption, when a resource becomes sparse and the price rises, new technology emerges to use it more efficiently or substitute energy is found

2. Technology expands energy availability: Watt’s steam engine made it possible to extract coal from deeper mines

3. Jevon’s paradox: increased efficiency can lead to overall greater energy production, such as with oil and coal

4. Energy resources drive economic growth

James Watt

His invention of a steam engine could power water pumps and conveyors to bring coal from deeper depths more efficiently.

Jevon’s Paradox

the observation that as technological improvements increase the efficiency of resource use, the overall consumption of that resource can actually increase.

Renewable

energy sources that are naturally replenished, such as solar, wind, and hydroelectric power, which provide alternatives to fossil fuels.

Nonrenewable

energy sources that are finite and cannot be replenished in a short time frame, such as fossil fuels like coal, oil, and natural gas.

EROI- Energy Returned on Energy Invested

ratio that measures the amount of energy obtained from an energy resource compared to the amount of energy expended to obtain that energy. A higher EROI indicates a more efficient energy source.

Energy Density

the amount of energy stored in a given volume or mass of a substance, often used to compare the efficiency of different energy sources

Cap and Trade

an environmental policy that allows companies to buy and sell permits to emit pollutants, with the goal of reducing overall emissions.

Carbon Tax

a tax imposed on the carbon content of fuels, designed to reduce greenhouse gas emissions by incentivizing cleaner energy sources.

Solar Energy

• The most common solar energy technology is
  the photovoltaic solar panel, which is made of
  silicon and produces an electric charge when
  exposed to sunlight.
  • A concentrated solar thermal plant captures
  heat from the sun by using mirrors to focus
  sunlight toward liquid-filled pipes or a centrally
  located “power tower.”

Wind power

• Wind turbines use flowing air to turn large blades that in turn power a generator and create electricity.

• Wind power is freely accessible, is
  nondepletable, has no air or water
  emissions, and doesn’t require
  water for heating or cooling

• A challenge of wind power is variable generation, as generating capacity
  changes according to the time of day, weather conditions, or other factors

Hydro Power

• uses flowing water to
  spin turbines and generate electricity

• produced by
  construction of dams and reservoirs
  that allow adjusting water flow through
  turbines of the dam, and run-of-the-
  river system that uses natural flow
  rates to power turbines.

Nuclear Power

• generated through
  fission when the nuclei of unstable
  uranium atoms are split, releasing large
  amounts of heat energy.

• Releases no carbon dioxide
  emissions, generates little air pollution,
  and globally accounts for about 4.5% of
  total energy consumed

Biofuels

• Derived from recent living matter

• Are used in 5% of vehicles in US

• Ex: Ethanol, most corn grown in the US is used for ethanol

Geothermal Power

• Steam from geothermal wells can
  provide heat for buildings

• Homes can take advantage of the
  temperature differential between
  the surface and underground to
  heat in the winter and cool in the
  summer.
  

Electric Vehicles

• powered by an electric motor using a magnetic
  field to generate motion.

• waste less energy as heat so they are 4 times more efficient than gas-powered vehicles and accelerate faster

Co-Generation

captures waste heat from power plants and uses it as an additional source of heating or cooling