Today you and I are living in Oil based economy. Globally more than 60% of Oil is used to fulfil the world’s addiction to Transportation & Mobility. Moreover, Oil has a significant percentage over rail electrification as 70% of overall railway network around the world is not electrified. Every negligible drop in R/P (reserves to production) ratio of Oil results in sharp price hikes in the oil futures, which directly affect the price of fuel at the pump.
Ecology & Climate.
Transport sector is currently responsible for 23% of energy related CO2 emissions, which will more than double by the year 2050…
Diesel exhaust contains significant levels of small particles, known as fine particulate matter (PM) and are the largest source of particulate emissions in transport. PM includes a group of harmful gases called Nitrogen oxide (NOx), and depending on the Sulphur content of the diesel, can also include harmful Sulphur oxides (SOx). To combat the problem, the European Union in 2012 has set Stage IIIB limits on the exhaust emissions of new diesel locomotives tightening PM limits by around 90% relative to Stage IIIB.
Vast majority of Oil is controlled by unfriendly regimes which formed an OPEC – a Cartel. Countries initiate wars and spend trillions just to defend its Oil supply from OPEC countries which dictates the price of Oil on a global marketplace and drags it higher facing social commitments made to their citizens.
Today it is very clear that this eco-system is highly unsustainable. Alternative fuels need to be evaluated to reduce the impact of oil monopoly over transportation sector and growing price instability of Oil products.