It is argued that companies that use fossil fuels should be taxed more than companies that consume green energies. I strongly agree to this view, as this would encourage environmentally responsibilities and reduce carbon emissions.
Fossil fuels are a major contributor to global warming in the world. To addressed this important issue, the governments provide incentives to the companies if they prefer to change fossil fuels to green energy sources. As a result, the companies that continue to use fossil fuels will pay the tax payable be higher rather than the companies have changed their energy using other alternative sources. For instance, a recent study say that the companies have adopted the new energy sources to their businesses pay less in taxes compared to companies that still rely on fossil fuels. In addition, it can increase the environmental responsibilities of many organizations in the world. They can encourage awareness of harmful effects to use fossil fuels as the primary source to produce energies within their industries.
In addition, taxing fossil fuel companies can make green energy more competitive and encourage innovation. Governments can gain revenue from higher taxes that can be used to fund renewable energy research. For example, subsidies funded by taxes on oil companies could help solar or wind projects, and it leads to the price of solar or wind machinery become more affordable. As a result, this approach stimulates both economic growth and environmental protection.
In conclusion, I completely agree to taxing companies that continue to consume fossil fuels as the main sources in their businesses. It will bring many benefits, because it is not only encourages companies more responsible for the environment, but also can stimulate economic growth of the nations.