The increase in the prices of major fuels, like gasoline and diesel fuel products is a major global problems recently. Those prices are increase associated with the global economic crisis. Now, it is the ideal time to move all the focus and effort to alternative fuels for vehicles. There are different types of alternative energy sources for fuel to choose from. But the hard fact is that the areas of alternative fuels have not passed many real qualitative and quantitative surveys and breakthrough research. (more…)

There are many possible reasons for suspecting market failure in a product like gasoline. Throughout the world, the exploration, refining, and selling of petroleum products has long been controlled by large firms in oligopolistic or monopolized national markets. The United States is a sufficiently large importer of oil that it could have monopsony power, which would mean that we could increase the welfare of our own citizens by reducing our imports. Moreover, the consumption of petroleum products, especially in motor vehicles, generates many negative external costs, and will begin to examine closely in the next chapter. Where there are negative externalities, a free market will overproduce and over consume. (more…)

Anyone who wants to save money on gas should be interested in the process of underground coal gasification, or UCG. It is an alternative way of obtaining clean fuels, one that has been explored more recently due to increasing oil prices. Considering that the process benefits everyone, it is surprising how few individuals have any idea what it is. (more…)

Natural gas is found mainly in underground reservoirs and in coal beds. Natural gas is a fossil fuel that consist primarily of methane and some smaller amounts of hydrocarbons subtracts like ethane, propane and butane. There might be some inert gas like nitrogen, helium, and carbon dioxide involved and dissimilated into natural gas. The actual mixture composition is varies depending upon the region where that natural gas is found. (more…)