Typically, I do the Daily Musing in my own story, but it appears my comment was too large for the comment box because it erased the entire story I have written (luckily I saved). I am going to be doing a three part series over the next three days about the failure of the oil and fossil fuel market and my choice for alternative energy that I think is the most viable solution to the problem. Today, we investigate the failure of oil, coal, and natural gas.
“The world consumes two barrels of oil for every new barrel discovered,” – Chevron’s 2006 Will You Join Us campaign.
The world has been, currently, and will continue to face an energy crisis of major proportions. Our society depends much too greatly on non-renewable fossil fuels for nearly every aspect of our lives. The crisis is an extremely large and complex issue that deals with both economic and environmental issues and highlights a number of market failures that plague the future and viability of fossil fuels. Currently, our world is seeing an increasing demand for oil, coal, and natural gas. At the same time, though, production, discovery, and extraction of these fossil fuels is unable to match rising demand. The fact of the matter is that these resources are endless, and as our societies continue to use them up, the problems associated with these resources will become more greatly magnified.
Problems with fossil fuels begin with supply. Experts agree that determining the amount of fossil fuels that are left in the world is an extremely difficult task to gage and on which we can obtain exact data. Demand and supply are constantly changing, which causes a cloudy picture of how much more sustainability humans have from oil, coal, and natural gas. With this aside, one aspect remains true in that fossil fuels are not limitless. 
While reserves may loom large, they continue to dwindle in number even with the advancement of technologies for discover and extraction and as supplies continue to decrease, relative prices will continue to increase. For the time being, humans will continue to innovate and produce new technology to continue to find more resources. For example, as MSNBC article How Long Will the World’s Oil Last? points out:
Technology is expanding the industry’s ability to find and extract oil – in some case finding new fields once thought to be fully exploited.Horizontal drilling has provided access…
