Oil And Petroleum Gas Market And Exploring New Areas Of Energy Essay

993 Words4 Pages
TEAM MEMBERS: Abhay Sharma,Akash Jaiswal,Manjul Pandey COLLEGE:University of Petroleum & Energy Studies,Dehradun; EMAIL: abhaysharmaguitar@gmail.com , emperor.akash@gmail.com , manjulpandey1997@gmail.com CONTACT NO.: 7060753804, 8853431388, 9411316585 COGNI ID: COG16/02934 , COG16/06545 ,COG16/003017 IDEAZ B: Plunge in the oil & petroleum-gas market and exploring new areas of energy. Thorium as a Vehicle Fuel It is estimated that useful life of world’s well known petroleum reserves will last 40 years, natural gas will last 61 years and coal reserves will be exhausted in 227 years. Decrease in fossil fuel reserves due to fast consuming and environmental damages due to increasing environmental pollution makes it necessary to orient towards new and renewable energy resources. Thorium is a metal found in ores such as thorite, thorianite and monazid and it is an important energy source for electronuclear power which is found three times more than uranium. It was proved only in 1993 that thorium may be used as fuel in nuclear reactors. Study on first reactors planned to be commissioned in 2010 is still performed by CERN (European Center for Nuclear Research). With this regards, it is somewhat a raw material of raw material waiting its commissioning time. Extracting its latent energy value in a cost-effective manner remains a challenge, and will require considerable R&D investment. It is fertile rather than fissile, and can only be used as a fuel in conjunction with a fissile
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