Competition from Fossil Fuels

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Fossil fuels have historically dominated the global energy landscape, benefiting from extensive subsidies and well-established infrastructure. This existing infrastructure includes vast networks of pipelines, refineries, and distribution systems, which have been developed over decades. The subsidies, both direct and indirect, have supported the economic viability of fossil fuels, making them a formidable competitor to renewable energy sources. However, recent trends indicate a shift in competitiveness. Renewable energy technologies, such as solar and wind power, have become increasingly cost-effective due to technological advancements and supportive policies. Despite the established advantages of fossil fuels, renewables are now often cheaper and more efficient, leading to a decline in fossil fuel demand. As the world transitions towards cleaner energy, the dynamics of competition are evolving, with renewables gaining ground against traditional fossil fuels.