With fears dominating the financial crisis, repeating monetary history is not presently in people’s good-books; but the reality is that there is a substantial amount of money being thrown into the melting pot of fossil fuels.
A heady £458 billion of saving and pensions are being used to fund and find fossil fuel reserves to add to the growing “carbon bubble” that is threatening the environment worldwide. With three-quarters of the world’s fuel still relying on carbon – oil and gas alike – the dangers of government damage are becoming highly apparent.
The companies supposedly, have little to no entitlement over the reserves and distribution of fuel, but rather, it is the government investing taxpayer’s money into expanding a depleting source of energy.
The solution is not an easy one, with green policies existing, but not leading the UK into finding cleaner methods of getting energy. We have very little to lose as a country due to the lack of coal resources, but through imports and production rates, we are burning money as easily as coal.
Production rates as they are, BP has reported that there are just seven years left for oil, four for gas and twelve for coal. The reality is very severe – and energy production is becoming desperate.
Similarly in Europe and Africa, these figures also reflect onto them. Their response however, has been to drive the plans towards a global climate deal; altogether, they own less than a tenth of the carbon.
The facts are clear : The world needs a new source of energy – and with the efforts to bring about new, cleaner resources of fuel, perhaps there is some hope that the money and energy put into fossil fuels can take on the brighter aspect of reclaiming a clean environment.
The question is, when will it happen?