The increase in global energy demand and the scarcity of oil and natural gas is driving the market towards alternative energy sources. This issue cannot be neglected. The International Energy Agency projects that between 2005 and 2030 global demand for energy will increase by over 50%. Assuming that in 2030 oil provides the same percentage of global energy that it did in 2005, this energy demand increase will cause an additional 30 billion barrels of oil to be consumed annually.   The main factor behind the immense increase in energy demand is the growing economies of the emerging markets. As countries industrialize, more energy is required for economic growth and to increase standards of living. Strong per capita income growth, rapid industrialization, and rapid population growth are all contributing factors to the increase in global energy demand. Much of this increase in demand for oil is driven by the increase in personal automobile ownership, a characteristic associated with rising per capita incomes. With urbanization and improvement in standards of living, the demand for energy increases.         The world faces an ever increasing demand for energy, yet is limited by irreplaceable and ultimately finite petroleum reserves. According to the EPA, domestic oil field production in the U.S. has become increasingly expensive, as the easy-to-find oil has already been exploited. Some experts speculate that global oil production has reached a maximum (a concept known in Hubbert peak theory as peak oil) and that production will soon enter a terminal state of decline. As oil production from new drilling decreases, alternative technologies will be needed to supply increasingly precious oil to the global economy.   As the demand for oil increases and oil supplies decrease, the price of energy will increase dramatically. Despite the temporary decline in crude oil prices during the current global economic downturn, global crude oil prices are expected to recover and potentially reach $130 per barrel (in 2007 dollars) by 2030.