Increasing Demand for Fossil Fuels

	World Energy Use by Fuel (1980-2030) (Energy Information Administration, 2005)

Since the beginning of the industrial revolution, low cost fossil fuels, such as oil and coal, have powered humanity into a new era of advanced technology and modern life. Today, industrialization has reached a global scale, consuming more fossil fuel than ever before. With global population projected to increase from 6.5 billion in 2006 to 8.5 billion by 2030, worldwide energy consumption is projected to increase by 50% in the same period.(1) This increase translates to over 112 million barrels of crude oil per day, up from the current 90 million barrels per day.

Fossil fuels (liquid fuels and other petroleum, natural gas and coal) are expected to continue supplying most of the energy use worldwide. Liquid fuels, such as gasoline, are expected to remain the world's most dominant fuel because of their importance in the transportation and industrial sector since there are few alternatives. The transportation sector alone accounts for 74% of the total projected increase from 2005 to 2030, with the industrial sector accounting for the remainder. This increase in demand is largely the result of the rapid modernization of developing countries, such as China and India, which account for more than 85% of the projected increase. This increasing demand is likely to sustain high world oil prices for a long period of time.(1)

CO2 Emissions from Fossil Fuel

	World Carbon Dioxide Emissions (2005-2030) (Energy Information Administration, 2005)

The continual use of fossil fuels creates two very important problems with profound implications on humanity. First, carbon dioxide (CO2) emissions from the use of fossil fuels have been scientifically accepted as the cause of global warming and climate change. Annual CO2 emissions are projected to increase from 28 billion metric tons in 2005 to 34 billion metric tons in 2015 and over 42 billion metric tons in 2030. The largest and most concentrated source of CO2 emissions is the growing use of coal-powered electricity generation, especially in developing countries where coal is abundant and inexpensive. Second, fossil fuels are non-renewable resources because they take millions of years to form. At some point in the future, there will not be enough supply and production capacity to meet the demands of the world. Based on historic growth trends, crude oil production will peak in 2037 at a volume of 53 billion barrels per year.(2)

Transforming CO2 Back into Fuel

This dual energy and climate crisis threatens our way of life, as well as the security of nations. Meeting this challenge is one of the most pressing needs of the world. Most of the work on reducing CO2 levels in the atmosphere is focused on reducing emissions from fossil fuel combustion or capturing and sequestering the CO2 in underground geological formations. Underground CO2 sequestration is very expensive and requires ongoing monitoring with questionable success and no current commercial deployment. However, with the demand for fuel expected to remain high and harmful CO2 levels expected to increase, there exist another possible solution: the conversion of CO2 back to a hydrocarbon fuel.

Carbon Sciences is developing a breakthrough technology to transform CO2 emissions into the basic fuel building blocks required to create gasoline, diesel fuel, jet fuel and other fuels.

(1) Energy Information Administration - International Energy Outlook 2008
(2) Energy Information Administration - International Energy Outlook 2002