BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Oil has been the world’s major commercial energy source for many decades and the consensus view is that it will maintain this leading role well into the 21st century.

Detailed explanation-2: -Globally we get the largest amount of our energy from oil, followed by coal, gas, then hydroelectric power. As we look at in more detail below – “How much of global energy comes from low-carbon sources?” – the global energy mix is still dominated by fossil fuels.

Detailed explanation-3: -Fossil fuels are available in many areas. Petroleum (crude oil), natural gas, and coal are easy to use for everyday needs that include electricity generation, heating, and transportation. Fossil fuels have become a dominant energy source because they contain a lot of transportable energy in a small package.

Detailed explanation-4: -Fossil fuels-including coal, oil, and natural gas-have been powering economies for over 150 years, and currently supply about 80 percent of the world’s energy. Fossil fuels formed millions of years ago from the carbon-rich remains of animals and plants, as they decomposed and were compressed and heated underground.

Detailed explanation-5: -Globally we see that coal, followed by gas, is the largest source of electricity production. Of the low-carbon sources, hydropower and nuclear make the largest contribution; although wind and solar are growing quickly.