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The Disruption of the Energy Business - The Future of Energy - Exponential Manufacturing

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Exxon Mobil , BP and other large oil companies collectively lost tens of billions of dollars last year, posting their worst performance in years and, for some companies, in decades. The pandemic was largely to blame. It sapped demand for gasoline, diesel and jet fuel as countries and states locked down and people stayed home. But such painful years could become more commonplace as growing concerns about climate change, tighter regulations , and the rise of electric cars and trucks force a reckoning for an industry that has dominated the global economy over much of the last century. General Motors further raised the stakes for the industry last week when it said it aimed to do away with internal combustion engines and sell only electric cars by

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The Future Industry in Energy Dropping the	Feb 01,  · COVID took its toll on the power industry, but some financial experts are expecting a rapid rebound in the renewable energy sector. News & Technology for the Global Energy Industry . 6 days ago · The oil industry is slowly transitioning to a future dominated by cleaner energy. BP, Royal Dutch Shell, Total and other European companies are investing considerable resources in . 1 day ago · The moves come after another year that saw a drop in coal consumption. According to the U.S. Energy Information Administration, the nation’s power companies used .
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The Future Industry in Energy Dropping the.

Students at the University of North Carolina at Chapel Hill were asked what their questions on biofuels were to help gauge a common understanding of the marketplace.

Exploring oil and gas trends and impact of COVID-19

Students shared positive attitudes towards biofuels. However, some confusion remains as to the specific value of biofuel investment. Below are the questions posed by students. Biofuels are fuels derived from the living matter of plants and animals. This matter typically refers to plant The Future Industry in Energy Dropping the such as grasses, algae, or agricultural residue. This can also include animal fats and waste. These materials are commonly referred to as feedstocks, or the raw materials used to create the fuel product.

This biomass can be converted into various fuels, chemicals, and materials. The conversion of biomass into a fuel product involves the use of microorganisms for fermentation. The fermented product is then created into a biofuel. The fuel can be used in a diesel engine and blended with traditional fuels.

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There are major advantages of integrating a bioproduct in our fuel supply. A biofuel market will decrease the use of fossil fuels in our oil supply for conventional automobiles. An increase in demand for biomass materials will necessitate an increase in farming practices to meet demand. By creating such a market, rural economies are supported while dependency on foreign oil markets is reduced. This product results in a cleaner fuel supply that will improve air quality as article source as human health. Where is this supply coming from? The imagined scenario is already partially true—ethanol, a corn based fuel, is part of the traditional fuel mix in the United States. In the future, more competitive feedstocks can be integrated into the mix as The Future Industry in Energy Dropping the. If biofuels experience successful market introduction, biofuel access could be so integrated it would go unnoticed by the average citizen.

As drilling for oil becomes less economical, biofuels will become more competitive and will slowly become a larger portion of supply. Cheng explained that Brazil has a large bioethanol industry that accounts for approximately half of all automobile biofuel. Ethanol, the primary biofuel in the US, is more expensive than gasoline on an energy content basis.

The United States government hopes to make this alternative energy source more economically viable. The US Energy Department plans to fund developments in biomass technology.

In Januarythe department announced that 15 million in funding will be provided through Applicants hoping to capitalize on the opportunity must address technology improvements in processing and productivity. In addition, the industry will be bolstered by military investment. Inthe Navy broadcasted that byhalf of fuel sources would be non-fossil fuels. Since then, aircraft and ships have been have been powered by beef fat, municipal waste, palm oil, and algae. Cheng also expressed a potential for the United States to utilize local biomass. Cheng thinks that the United States could better use this resource in order generate bioenergy as well as local jobs.]