The main importance of fossil fuels is to provide energy, and it is estimated that they provide up to 80 percent of the world's energy. Fossil fuels are carbon compounds that occur naturally and are found in the crust of the Earth. They are produced due to high-pressure anaerobic conditions that act on dead organisms.
Fossil fuels can be found in gas, solid and liquid states. Oil is the main fossil fuel that is commonly used today, with the largest reserves found in the Middle East. Therefore, countries with high amounts of fossil fuels are able to generate revenues by selling the fuels to other countries. The industry helps to build the economy in a massive way by employing millions of people.
Natural gas is another type of fossil fuel that is popularly used in cooking compared to electricity. Millions of people also use the gas for heating homes. The gas is also used in different industries and commercial buildings for water heating, space heating and cooling.
Today, electricity is one of the most important things in any economy. The use of coal in making electricity has enabled a constant supply of power and has also helped to reduce the cost. It is estimated that up to 55 percent of electricity used in the United States is generated from coal.