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Alternative Fuel Sources & their Economic and Environmental Impact Presented By: Eric Miller, Megan Monaco, John Morgan, Bill Nickley Current Economy Rising Fuel Prices Poor US auto manufacturer performance Bleak Environmental Outlook Hybrid Technology What is a hybrid? Vehicle that runs on two motors Electric and gasoline-powered Combines the best qualities of each type On board battery Captures energy from braking Electric Motor Consumes no energy when idle Uses less energy at low speeds No pollution Gas-Powered Motor Kicks in at higher speeds More power Allows car battery to charge Benefits of Hybrids Better gas mileage Environmentally friendly Less dependency on foreign oil imports Possibly cheaper in the long run Hybrid Disadvantages Battery Concerns Lifetime Expense Environmental Factors Accident Safety Initial Cost vs. Long Term Benefit Foreign Automakers Advantage in Hybrid Technology Greater market share U.S. automakers lagging behind Overall Economic Benefit Fuel Efficiency Savings in gas money Less U.S. dependence on foreign oil Lower oil and gas prices Ethanol Background Ethanol Derived from crops (corn fuel) Basic form of Ethanol is pure alcohol Ethanol is mixed with gasoline to create different blends Used in most gasoline – E10 Used in Flex Fuel Vehicles – E85 Major Supports of E85 General Motors & Ford are strong proponents of E85 Both produce FFV’s President Bush / Members of Congress Bill to increase Ethanol production from 5 to 7.5 Billion barrels by 2012 Proposal to reduce gasoline consumption by 20% in 10 years Benefits Reduce U.S. dependence on foreign oil Reduces imports Shrinks U.S. trade deficit Benefits farmers Price of corn to farmers increases due to increased demand Reduces vehicle emissions Renewable resource Ethanol plant stimulates local economy Provides Jobs Provide tax incentives for city Drawbacks Ethanol cannot travel in pipelines Will pick up moisture/impurities Increases logistics costs – must be transported by trucks, trains, barges Increases prices at the pump Ethanol contains 15% less energy than gasoline Drawbacks Increased demand for Ethanol has increased prices Opportunity Cost of Ethanol is higher than traditional gasoline Increases prices of food Worldwide prices of food have increased causing food shortages Fuel Cell What is a fuel cell? Invented in 1838 Efficiency Serves as own energy source Benefits Investment Opportunities New facilities – hydrogen New cars Economic Stimulus No longer reliance on gasoline New cars would be purchased New found savings International Benefits An excellent energy source for developing countries Cut dependence on oil producing countries New resources could be used to stimulate economic and revitalize economy Excellent source of energy for remote locations Environmental Benefits Help efficiency move from 20% to 40-60% Use water and heat byproduct to heat homes Only emissions would be small amounts of CO Disadvantages Large investment costs Current costs $225 to produce an engine Hesitation Storage and Safety Currently can only drive 200 mi Pressurized tank goal is to be around 400 mi Safety Concerns Fuel Cells Supposed to occur by 2010 Blocked by Oil Companies?? Biodiesel World diesel consumption: 181 billion gallons. Alternative: Biodiesel Derived from vegetable oils and animal fats Glycerin produced as a byproduct Used in a mixture 20B/80D Can power diesel engines and heat homes Advantages Renewable Very low net greenhouse gas emissions 78% lower than petroleum diesel Cleaner burning, less toxic emissions Non-toxic and biodegradable Reduces dependence on foreign oil Creates domestic jobs Requires little to no modification Disadvantages Difficult to produce meaningful quantities Diesel consumption far in excess Additional capacity from soybean oil Uses arable land, reducing food supply Could lead to higher food prices “Food for fuel” Conclusion Best solution?? Fuel Cell Most efficient Cuts dependence Stimulus ??Any Questions ??