Environmental Degradation is is one the biggest problems looming our mother earth in present time. And vehicular pollution is one of the leading cause. I firmly believe that increasing cost of fuel would have positive effects of environment.
Burning fossil fuels is one of the top polluter of our environment. Green house gasses emmited by cars cause heat to be trapped in earth causing global warming. Increasing prices of fossil fuel will result in reduced consumption hence less pollution. Moreover, the extra revenue generated could also be used to fund research and addoption of green tech like electric cars.
On the other hand fossil fuels runs the economy. Raising prices of fuel would increase price of transportation. This increased prices would be passed on to consumer. Prices of essential goods and food would shoot up causing inflation making it difficult for poor famalies to make ends meet. Sudden increase in fossil fuel prices would be nothing short of a disaster for the economy. As we have seen fuel price shot up during the ukraine war causing everything to be expesive
I firmly believe increaing cost of fuel would lead to reduced fossil fuel burning. This would result in reduction of green house gasses in the environment hence reducing global warming and other environmental problems. But fuel is the lifeline of modern economy, the increase could case major issues including food shortages and increasing world hunger. Hence it is very important to perform such actions with great care