Although the prices of fuels have greatly increased over the last decade or two, it is argued that further increases in fuel prices are the only way to reduce world consumption of fuel and lessen pressure on the world’s fuel resources. To what extent do you agree or disagree with this statement?

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Some people are of the opinion that there is no alternative to decrease global
fuel
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demand, even though there has been a great rise in
fuel
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prices during the
last
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10 to 20 years.
This
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imposes a great risk to the
world
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deposits of fossil fuels. In
this
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essay, I will discuss why I disagree with
this
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thesis. On one hand, prices are only a part of the variables involving the use of fuels. While there are many goods that could be manipulated in its price to rise or limit its consumption,
fuel
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is not one of these.
Hence
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, the importance of understanding that fuels
have not yet found
Suggestion
has not yet found
their competitors, nor their replacement. Take
for example
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chocolate, if prices of chocolate were to increase by 50% its demand would be reduced dramatically.
This
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is not the case with fuels, though it may cost a lot more to fill the tank, people will still need to get to work every day.
On the other hand
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,
fuel
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consumption is directly related to the lack of alternative sources of energy.
Moreover
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, these technologies
such
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as electric vehicles are still a rather small fraction of all vehicles in the
world
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. If these technologies were to become mainstream by the power of campaigns and large investments in research, the
world
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could stand a chance to reduce the pressure put on the fossil deposits.
For instance
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, the governments can initiate campaigns to promote the use of electric vehicles by applying tax incentives for the purchase of
such
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cars. In conclusion,
fuel
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prices are in most cases inelastic.
Therefore
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, it would take a lot of different efforts to replace the need of
fuel
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consumption,
thus
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having little to no impact on reducing pressure on the
world
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's fossil deposits depletion.
In addition
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to
this
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, newer technologies will take several decades to be fully developed in order to replace the
fuel
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demanding industries.
Submitted by rafa.lascano on

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