The greek word for elements is stoikion . It appears seven times in the New Testament. Two times occur in 2 Peter 3. In context stoikion never refers to the physical world or the elements on the periodic table, but always denotes the elementary principles of the Old Covenant. The Bible is a covenantal book from Genesis to Revelation and 2 Peter 3 is also covenantal. It is using symbolic apocalyptic langauge to describe the transition of the from Old to New Covenant in 70 A.D.
2 Peter 3:10
10 But the day of the Lord will come as a thief in the night, in which the heavens will pass away with a great noise, and the elements [stoikion] will melt with fervent heat; both the earth and the works that are in it will be burned up.
2 Peter 3:12
12 looking for and hastening the coming of the day of God, because of which the heavens will be dissolved, being on fire, and the elements [stoikion] will melt with fervent heat?
Galatians 4:3
3 Even so we, when we were children, were in bondage under the elements [stoikion] of the world.
Galatians 4:9
9 But now after you have known God, or rather are known by God, how is it that you turn again to the weak and beggarly elements [stoikion], to which you desire again to be in bondage?
Colossians 2:8
8 Beware lest anyone cheat you through philosophy and empty deceit, according to the tradition of men, according to the basic principles [stoikion] of the world, and not according to Christ.
Colossians 2:20
20 Therefore,[a] if you died with Christ from the basic principles [stoikion] of the world, why, as though living in the world, do you subject yourselves to regulations�
Hebrews 5:12
12 For though by this time you ought to be teachers, you need someone to teach you again the first principles [stoikion] of the oracles of God; and you have come to need milk and not solid food.
The physical world will last forever. See The Earth Will Last Forever.
For more study on 2 Peter 3 read Don Preston's book The Elements Will Melt With Fervent Heat available at Apologia Book Shoppe.
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