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The answers we get for oil and natural gas are not reassuring, especially since one-third of the United States' oil comes from the Middle East today. How Much Longer Can We Rely on Fossil Fuels? Worldwide demand for fossil fuels is growing at a staggering rate, due primarily to strong growth in huge developing countries, like China and India. At the same time, oil production is not keeping up with demand and there is a lot of debate about exactly how much oil is left in the ground worldwide. In October 2003, CNN reported on a Swedish university study that estimated that the world's oil reserves are up to 80% less than previously thought. This imbalance of supply and demand is the true underlying cause of the recent record run-up of oil prices. Between October 2003 and October 2004, light sweet crude oil prices rose from under $30 per barrel to over $55 per barrel. That was an increase of over 80% in one year and came after a 20% run-up due to the U.S. invasion of Iraq. As a result of this imbalance, we are not likely to see oil prices below $50 a barrel ever again. There is also a strong chance that prices will continue to rise to over $100 a barrel in the next 5 years as demand from these huge emerging countries continues to drive the markets. The U.S.'s reliance on fossil fuels is jeopardizing national energy security. Today, coal-fueled power plants generate 54% of electricity in the U.S. They are the largest industrial source of air pollution. The Union of Concerned Scientists estimates that an average coal-burning power plant burns 1.4 million tons of coal each year,
The numbers show that coal-fueled power plants are the largest contributors to acid rain, respiratory disease and global warming. For more information, visit:
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