Since the first automobile was launched onto the market, fossil fuels have been the most common fuel source for the auto industry worldwide. The addiction of the automobile industry to fossil fuels continues even today. Although other non-conventional sources of energy are available nowadays, fossil fuels continue to be the most preferred source of fuel for the automobile industry.
Fossil fuels are the fuels derived from organic remains of dead plants and animals, and are said to have been formed over millions of years under the effect of extremely high temperature and pressure. Examples of fossil fuels include petrol and diesel. There are only limited reserves of fossil fuels in the earth. So, this addiction of the automobile industry to fossil fuels is indeed a matter of concern for all of us, as it is not sustainable and there will come an end to the availability of these fuels.
Suppliers of fossil fuels keep raising their prices as the limited reserves of fossil fuels are being depleted rapidly. This increase in fuel costs poses a major threat to the economies of major fuel-consuming nations, and is an important factor in the push by governments to develop alternative fuel sources. Unless automobile manufacturers embrace the need for change and begin to rethink the type of engines they are producing, the auto industry will face repercussions in the near future.
The automobile industry is at present the most dependent industry on fossil fuels. It goes without saying that a sudden shortage of fossil fuels will adversely affect this industry. Shortage of fuel will lead to a sharp rise in fuel prices, which will ultimately lead to reduction in demand of cars and other automobiles.
This will have a serious impact on the economy of the auto producing countries as well as on the global economy, as the auto industry would under this scenario be forced to reduce its production and cut many jobs, leading to massive unemployment. Thus, unless measures are taken to wean ourselves from such dependence, the shortage and eventual depletion of fossil fuels will affect each and every individual eventually.
From previous and current discussions, it is very clear that unless the auto industry gives up its addiction to limited fossil fuels, the developed world will face great upheaval as fuel prices continue to spike. One possible solution is to develop alternative sources of energy.
Although many such alternative fuel sources are available in primitive form, there is a serious lack of interest among auto companies to develop such technologies. The industry seems so badly addicted to fossil fuels that it has lost the will to innovate and develop other cleaner source of energy besides petrol and diesel.
For me it is clear that it is about time for the auto industry to leave its addiction to fossil fuels behind and start being a little more innovative in developing new sources of fuel for automobiles. Unless this is done quickly, these companies face possible extinction as fossil fuel reserves are depleted.