Firstly, the oil, gas and coal are all non-renewable resources.This is acknowledged worldwide as well as the fact that society can overcome their demands. Even though fossil fuel prices have increased significantly over the last decade the actual consumption itself will cause these natural resources to run out eventually. It has been said that the only way to reduce the usage of fossil fuel is to further increase the prices in the future.
Furthermore, most people think in this present time and age that they do not consider the future enough thoroughly. Therefore, for the general public to be affected in their everyday lives in order for that to happen fossil fuel prices are raised. It will significantly decrease fossil fuel usage from an economical standpoint but it will be forced on current users. It is important that fossil fuel prices are high enough to immediately decrease the wealth of a family and make more people switch to public transport. Although, Some might argue about that fact however, that society’s fossil fuels such as petrol for cars have an inelastic price and that price hikes would have no effect other than increasing tax and oil company revenues.
In addition, a significant increase in prices would not only impact each individual customer, but also a whole economy itself. Fossil fuel prices are not only linked to transportation but also related to food production in home heating and entertainment. There is a significant rise in prices in all these areas which would seriously affect the living standard of families with limited amounts of income source and would mean the less wealthier parts of society would become even more poor than before.
In conclusion, I largely disagree with the statement that fossil fuel prices should be increased further though this acknowledgements there could be some minor beneficial effects. Although raising fossil fuel prices is one of the most commonly discussed solutions for the fossil fuel usage problems this proposal would result in multiple negative opinions. Certainly, increasing fuel prices would create a small reduction of transport usage but the effects in the future would be unfair for the whole world.
