Fossil fuels are the most widely used energy source in the world, accounting for approximately 84% of global energy consumption. The three main types of fossil fuels are coal, oil, and natural gas. These fuels are formed from the remains of ancient plants and animals that have been buried deep within the earth’s crust for millions of years.
- Relatively cheap and abundant
- Easy to transport and store
- Can be used for a variety of purposes, including electricity generation, transportation, and heating
- Non-renewable and finite
- Significant environmental impact, including air and water pollution, and greenhouse gas emissions
- Can be subject to price volatility due to geopolitical factors