Energy is a vital infrastructure for economic development. Energy plays a vital role in human welfare as all important economic activities of present development are dependent on the use of energy. As on today, fossil fuels are still the main primary source of energy in the world. However, the use of these fossil fuels causes harm to the environment and the demand of energy is ever increasing at a faster rate due to increasing trend of modernization, industrialization, economic development and population growth. This increasing energy demand leads to energy (fuel) Crisis and rise in the price of petroleum thereby causing economic catastrophe. Most of all, Fossil fuels are non-renewable energy sources of energy, the total recoverable world reserves of the main fossil fuels are rapidly depleting at an alarming rate, as such, fossil fuels will surely be exhausted in not too distance future.