Abstract
A nonrenewable fuel like petroleum has been used from centuries and its usage has kept on increasing day by day. This also contributes to increased production of greenhouse gases contributing towards global issues like global warming. In order to meet environmental and economic sustainability, renewable, carbon neutral transport fuels are necessary. To meet these demands microalgae are the key source for production of biodiesel. These microalgae do produce oil from sunlight like plants but in a much more efficient manner. Biodiesel provides more environmental benefits, and being a renewable resource it has gained lot of attraction. However, the main obstacle to commercialization of biodiesel is its cost and feasibility. Biodiesel is usually used by blending with petro diesel, but it can also be used in pure form. Biodiesel is a sustainable fuel, as it is available throughout the year and can run any engine. It will satisfy the needs of the future generation to come. It will meet the demands of the future generation to come.
Highlights
Oil depletion is the degradation in oil production of a well or oil field
A 2010 study published in the journal, Energy Policy by researchers from Oxford University, predicted that demand would surpass supply by 2015, unless forced by strong recession pressures caused by reduced supply or government interference [1]. It relates to long-term degradation in the availability of petroleum
Peak oil is often confused with oil depletion; peak oil is the point of maximum extraction, while depletion indicates the period of falling in production and supply
Summary
Oil depletion is the degradation in oil production of a well or oil field. A 2010 study published in the journal, Energy Policy by researchers from Oxford University, predicted that demand would surpass supply by 2015, unless forced by strong recession pressures caused by reduced supply or government interference [1]. Human utilizes fossil fuels which results in the release of 29 gigatonnes CO each year These figures point towards Hubbert’s peak theory according to which peak oil is the point in time when the maximum rate of petroleum extraction is reached, after which the rate of production is expected to enter terminal decline [2]. Microalgae cover unicellular and simple multicellular microorganisms, including prokaryotic microalgae that are cyanobacteria (chloroxybacteria) and eukaryotic microalgae for example, green algae (chlorophyta), and diatoms (bacillariophuta) These microalgae are beneficial as they are capable of all year production [9]; they grow in aqueous media and need less water than terrestrial crops [10]; microalgae can be cultivated in brackish water on noncultivated land [11] and they have rapid growth potential and have oil content up to 20–50% dry weight of biomass [12, 13]. Peak oil is often confused with oil depletion; peak oil is the point of maximum extraction, while depletion indicates the period of falling in production and supply
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