What is Nonrenewable Energy Resources Depletion?

Nonrenewable resource depletion is the extraction of fossil fuels and other finite energy sources. The challenge is that at one time, these resources seemed to be infinite. As we approach – or have passed – the point of peak oil, we will need to find renewable energy sources to meet our ever-increasing need for power.

Why is the Depletion of Nonrenewable Energy Resources Important?

To be blunt, because we cannot replace those resources – Ever. We only get one shot at extracting finite resources. Worse yet, current economic measures recognize resource depletion as positive, when in fact we are negatively impacting the environment and eliminating choices for future generations.

How has Nonrenewable Resources Energy Depletion Changed Over the Years?

As economies, population, and need for energy dramatically increased over the past decades, so too has our dependence upon energy sources. And our focus has predominately been on oil, gas, and other nonrenewable resources. Recently, we have seen the need for renewable energy sources, such as solar, wind, geothermal, and biomass. The net positives of such a switch are that jobs and infrastructure continue to increase, but the environment is benefited by not depleting finite resources and the reduction of pollution from fossil fuels.

Methodology & Data Sources

A replacement cost approach is used, because sooner or later fossil fuel will run out and need to be replaced by renewable energy sources. Makhijani (2007) estimates the cost of replacing energy from wind and solar energy (50/50 mix) at 8.75 cents per kilowatthour and $116 for replacement with biofuels (per barrel equivalent). The solar/wind price is applied to the electricity consumed in Maryland, the biofuel costs are used for replacing all other uses of fossil fuels (transportation, industry, etc.). Data was taken from records kept by the Energy Information Administration (EIA) and converted as necessary.

Some forms of alternative power generation are not included in the calculations because they are not present at a significant level in Maryland and are not captured by EIA statistics; including solar, wind, and geothermal power. In this region, only hydroelectric power plays a significant role.

Equation

(Energy Consumption) Multiplied by (Costs of Replacement through Alternative Sources (biofuel, wind, solar))

More Information

Maryland Energy Administration