Commodities

Can oil get replaced by eco-friendly aviation fuels?

 

Oil is one of the most important commodities in the global economic community. The consumptions of oil are enormous, and the importance of crude oil has only been increasing with each passing year. Petroleum products are still the dominant resource worldwide. However, everything comes to an end.  Thus, people are talking about shifting the energy and oil consumption toward more renewable and eco-friendly energy sources. Carbon emissions pose a serious problem in air pollution and account for about 2.5% of global emissions.

Unfortunately, for now, there are no ultimate solutions. However, sustainable aviation fuels, fuel-efficient planes, and carbon offsetting remain are the only feasible environmental potions by far. The very first historic commercial flight took off on 1 January 1914. While carbon emissions from aviation accounted for approximately 2.6% of total global emissions in 2018, they have increased by 32% from 2013 to 2018. Back then, the carbon emissions contributing to air pollution were not the highest priority. Today, the environmental impact of aviation is a pressing concern.

Related Post

A new step towards ecological flights: diversification of aviation fuels

Sustainable, or green aviation fuels are alternatives that can directly replace conventional jet fuel. Thus, it contributes to the environment.  These fuel types can be produced from cooking oil, algae, plants, and even municipal waste.

Unfortunately, the airline industry, which also goes hand in hand with the oil market, is also pumping in research and development into electric aircraft.

Recent Posts

Chinese Electric Vehicle Market: Nio Stock Up 20%

Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…

19 hours ago

Ethereum Price Dips Below $3,120 Amid Market Slump

Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…

19 hours ago

Stock Markets: Nikkei Down 0.1%, Hang Seng Up 2.4%

Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…

20 hours ago

Gold Price Increases to ₹71,278 and $2,328

Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…

24 hours ago

USD/MXN at 17.1268, Up 0.64% in the Latest Session

Key Points: USD/MXN closed at 17.1268, down by 0.64%. The US Dollar Index increased by 0.67%, highlighting its strength at…

1 day ago

AUD/USD Climbs to 0.6525 as Market Sentiment Shift

Key Points AUD/USD Pair shows early recovery, currently priced at 0.6525, indicating a subtle improvement and a possible shift in…

1 day ago

This website uses cookies.