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?

Some people are of the opinion that there is no alternative to decrease global

fuel

demand, even though there has been a great rise in

fuel

prices during the

last

10 to 20 years.

This

imposes a great risk to the

world

deposits of fossil fuels. In

this

essay, I will discuss why I disagree with

this

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

is not one of these.

Hence

, the importance of understanding that fuels

have not yet found

Suggestion

has not yet found

their competitors, nor their replacement. Take

for example

chocolate, if prices of chocolate were to increase by 50% its demand would be reduced dramatically.

This

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

,

fuel

consumption is directly related to the lack of alternative sources of energy.

Moreover

, these technologies

such

as electric vehicles are still a rather small fraction of all vehicles in the

world

. If these technologies were to become mainstream by the power of campaigns and large investments in research, the

world

could stand a chance to reduce the pressure put on the fossil deposits.

For instance

, the governments can initiate campaigns to promote the use of electric vehicles by applying tax incentives for the purchase of

such

cars. In conclusion,

fuel

prices are in most cases inelastic.

Therefore

, it would take a lot of different efforts to replace the need of

fuel

consumption,

thus

having little to no impact on reducing pressure on the

world

's fossil deposits depletion.

In addition

to

this

, newer technologies will take several decades to be fully developed in order to replace the

fuel

demanding industries.