In today’s world, climate change is one of the most controversial and concerning topics. There is no doubt that excessive use of fossil fuels such as oil, coal and gas is contributing to climate change. There are many resolutions that are being developed to move away from usage of fossil fuels and one of them is imposing taxes on its usage. This essay will examine both sides of the debate and argue that while taxing fossil fuels can be effective, complementary policies are needed to support low-income families.
On one hand, implementation of fossil fuel taxes will deter people from consistent usage of oil, coal and gas. If people were to spend extra to fuel up their vehicles, that would lead to people taking public transportation instead. On top of that, due to increased price of fossil fuels, people will be more eager to purchase vehicles that are operated by renewable energy such as electricity and solar energy. Due to increased costs of operating vehicles that use up fossil fuels, unnecessary energy consumption will decline and contribute positively towards climate change.
On the other hand, there are people in situations where changing means of transportation is not viable. Some people can simply trade in their cars for electric cars to save costs. However, low-income families may not be able to spend ten thousands of dollars for electric vehicles. Although implementing fossil fuel taxes can reduce energy consumption in the short-term, there will be additional financial pressure on less fortunate households.
In summary, governments, institutions, and individuals need to work together to prevent further climate change and seek ways to take advantage of renewable energy. However, sudden implementation of taxes on fossil fuels will harm low-income households whereas wealthy people will remain unaffected. I believe that appropriate regulatory frameworks will help households in need such as providing incentives for electric vehicles. With collaborative actions, we will be able to combat climate change by reducing energy consumption.
