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The creation of a fossil fuel is a natural process. The fuel is formed by the anaerobic decomposition of things such as dead bodies (Assamoi & Lawryshyn, 2012). The normal age of fossil fuels and the materials utilized in their production is millions of years. Coal, bitumen, heavy soils, and petroleum are all examples of fossil fuels (Dittmar, 2012). Carbon is the primary component of the fuels.
Canada has realized that the existing amount of fossil fuel is less than what is predicted in the future (Gao et al., 2012). The National Energy Board (NEB) of Canada has affirmed to its residents that the fossil fuel peak will occur in three years. NEB has proved that the height would not affect the economic growth, which largely depends on biomass, which has stabilized (Hafez & Bhattacharya, 2012). Heating homes and running cars using fossil fuel will be at its maximum before 2020. Later, it would decline and be negligible in the following decades.
The board's declaration of decline in fossil usage has occurred for the first time which has been a surprise to many in the country (Harrison, 2012). Despite its decline, the board is confident that there will be an increased usage of the natural fuel until 2040. Fossil consumption will acutely erode if the price of carbon hikes, solar power, and electric cars increase in usage abundantly (Middleton & Eccles, 2013). The certainty by National Energy Board of tripling in the usage of solar energy production and doubling of wind energy breeds the reduction of fossil fuel consumption.
A photo confirming how extinct the fossil fuel is currently
The NEB has estimated that the peak of fossil fuel consumption would rise in 2019. The body has been making efforts to have the fuel at a definite increase, though it records the same or slightly below the current reduced consumption of the natural fuel (Milford et al., 2013). The highest fossil fuel usage in 2019 will be the first historical move since people are tired of the expensive life.
NEB has confirmed domestic demand on the usage of fuel has increased. Therefore, an economical source of energy has to be used to cater for such basic needs. Thus, an increase in usage of the natural and cheap source of energy is inevitable (Murray & King, 2012). Also, consuming the natural fuel has advantages like reducing climatic effects, having efficient power, and doing away with inflation. Reference case method is the estimate used by the National Energy Board. The views depend mostly on records of current economic appearance, carbon price, and energy prices. The forecast has also included the decline in the fossil usage after 2019. The high carbon price that would start escalating in the year 2022 would be the reason for the fall (Shindell et al., 2012). Technology usage has proved the decline too, through the current carbon price that is higher. The analysis has no objective of achieving goals like climatic change, but rather deal with the consumption of the natural fuel.
Such future predictions are made about the current situation, revolving around carbon price and climatic changes. Continuous positive changes in energy efficiency have significantly advocated for a constructive change from the usual annual years of decline. Hence, a change has been realized to have the increase in consumption, three years from now, 2017. It has been the efforts of the National Energy Board to have such good reports since 2007 (Smith, 2013). Such efforts would bear fruits in the coming three years and later, things get back to normal.
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