This is a highly controversial topic as there is no clear front runner for our next major energy source.
Regardless of what our next major energy source is, oil will still be a big part of our lives for the next 50 years. This is because oil is not only used for transportation and energy production, but is also used in a wide array of products such as the following:
In our opinion, there is no single energy source that will replace oil. Even when new energy sources replace oil for transportation purposes, society will still require oil to make many of the products we use in our day-to-day lives. We feel a combination of the following energy sources will be able to offset the use of oil in the near future as their energy production ramps up.
- Earth-based Solar
- Nuclear Fission
- Liquefied Natural Gas (LNG)
When considering a longer time frame, the following energy sources may come into play as well.
- Nuclear Fusion
- Space-based Solar
What do you think? Please comment below and share your thoughts.