1. No more cheap oil. The era of cheap oil has come to an end, and oil prices are likely to significantly rise in years to come. In fact, many energy experts are convinced that oil prices will break the $200 barrier by 2030.
2. Oil reserves are running out. Oil isn't a renewable energy source and therefore won't last forever. The latest study carried out by the scientists from Oxford University has revealed that current oil reserve estimates should be downgraded from between 1150-1350 billion barrels to between 850-900 billion barrels, meaning that world could run out of oil sooner than expected.
3. Climate change issue. Burning oil releases harmful greenhouse gas emissions that are mainly responsible for climate change problem. Unlike oil renewable energy does not contribute to climate change problem. If world continues its heavy dependence on oil emissions will continue to rise, and climate change problem will become far more serious.
4. Energy security. We need energy all the time and oil reserves are running out, meaning that if we continue to be dependent upon foreign oil import at certain point of time the security of oil delivery will be anything but guaranteed. By developing strong domestic renewable energy sector we would ensure future energy security of our country.
5. Energy independence. U.S. currently heavily depends on foreign oil import. Current data shows that in U.S. more than two-thirds of burned oil was imported meaning that U.S. heavily depends on foreign oil import. By using renewable energy instead of oil U.S. would significantly reduce its dependence on foreign fuels. By building strong domestic renewable energy sector we would ensure that our money remains inside our borders.