What Will Energy Look Like In 2040? The world’s energy use will grow one-third by 2040, driven in part by the roughly 400 million people who will gain access to electricity in the next 15 years. While most of the demand will be met by fossil fuels, only natural gas, which burns cleaner than coal,
How Does Oil Affect The Economy? Oil price increases are generally thought to increase inflation and reduce economic growth. In terms of inflation, oil prices directly affect the prices of goods made with petroleum products. … Increases in oil prices can depress the supply of other goods because they increase the costs of producing them.
What Are The Disadvantages Of Oil Energy? Oil is a non-renewable source of energy. … Burning oil produces carbon dioxide gas. … Burning oil can pollute the air. Much of our oil has to be imported and it is becoming more and more expensive as reserves reduce and imports increase. What is are the main