Peak oil has been a threatening theory that has predicted the time in which the world’s supply of oil will peak before dropping off to depletion. It is now said that this so called peak will occur in the next decade around 2020. With this fast approaching, the need to develop more efficient renewable energy sources is immense. In recent years the production of ethanol has been seen as the way of the future for use as a fuel source. Production levels are already boosted due to the mandate by governments for a certain percentage of ethanol inclusion in present fuel sources. Wind turbines have also become increasingly popular over the last decade with wind farms being developed all over North America.
Today the really issue sits with trying to make these renewable sources economically viable. Wind turbines alone can cost anywhere from $6000-22,000 installed. The real cost of ethanol production is not producing the actual product but its economic impact on other agricultural sectors. Livestock producers in North America have been suffering greatly with the boom of ethanol production due to the rising cost for feedstuff like corn. The development of cellulosic ethanol could be the breakthrough needed to make ethanol production less antagonistic on other sectors of the agricultural industry.
Although currently there is much doubt that cellulosic ethanol can be nearly as efficient as current ethanol production, I still believe it is the way to go. If ethanol production stays as it is then North American consumers are going to have to accept the fact that meat prices are going to rise greatly to help cover the operational costs that livestock producers face. All in all, I believe that there needs to be a lot more money devoted to renewable energy research as if the peak oil theory is true then the world will soon be heavily reliant on these new technologies.
