Fossil fuels energy crisis

In the 1970s, a first serious energy crisis related to a sharp increase in the cost of fossil fuels led to a revival of interest in water electrolysis. This time the interest was focused on hydrogen as an energy vector that could possibly replace fossil fuels in the world economy The aim was twofold to become relatively independent of the influence of the oil market and to reduce the environmental impact of the... 

Along with other alternative sources of energy during the energy crisis of the 1970s, considerable attention was devoted to the exploitation of tar sands. Once, it was predicted that deposits in Canada could yield a light synthetic crude oil to the extent of a million barrels per day, or about one-third of Canada s petroleum requirements. Later, when serious environmental concern over fossil fuels was indicated, research turned essentially elsewhere. It was estimated in the late 1970s that tar sands reserves hi the United States, mainly in Utah, would have the petroleum equivalent of 90 billion barrels. 

Following the oil crisis in 1973, the world saw the need to develop bio-fuels to reduce dependency on fossil fuels and hence improve the security of energy supply, especially for non-oil producing coimtries. This need is now more urgent still, due to the fact that world supplies of petroleum and natural gas are likely to run out within the next 42 and 63 years respectively if no new reserves are discovered. 

Total fossil fuel consumption in Thailand increased from 1,058 PJ in 1990 to 2,064 PJ in 1997. It was accounted for at an average annual increase of 10%. Although the energy demand in the country was decreasing sharply in 1997-1998, due to the economic crisis, in 2000 the Thai economy recovered very rapidly, achieving almost the same level of development as had been recorded in 1997. 

---