Question

A policy calls for the elimination of the use of all fossil fuels ; which of the following would impact this policy?

it would reduce the price of goods like electricity

it would reduce fossil fuel consumption beyond the socially optimal level

it would maximize social welfare

it would result in the optimal level of greenhouse gas emissions

Answer 1

If there will be elemination of fossil fuel, then it would reduce the price of goods like electricity, also it would reduce fossil fuel consumption beyond the socially optimal level as well as it would maximize social welfare. This is because the production and use of fossil fuels—also referred to as "dirty fuels"—for electricity and transportation fuels aren't only contributing to global climate change , but they also cause health problems, destroy our wild places, and release toxins like mercury and arsenic into our communities. When we burn oil, coal, and gas, we don’t just meet our energy needs—we drive the present heating crisis also . Fossil fuels produce large quantities of CO2 when burned. Carbon emissions trap heat within the atmosphere and cause global climate change . within the us , the burning of fossil fuels, particularly for the facility and transportation sectors, accounts for about three-quarters of our carbon emissions. If we want to build clean future  We’re not locked into a fuel future, however. We’ve made major progress in scaling up renewable energy and energy efficiency within the us over the past decade, because of federal, state, and native policies that have helped to grow the clean energy economy. We’re also using energy far more efficiently. State and federal incentives, along side falling prices, are pushing our nation—and the world—toward cleaner, renewable energy sources like wind and solar. Renewables are on target to become a less expensive source of energy than fossil fuels, which is spurring a boom in clean energy development and jobs. Significantly higher levels of renewables are often integrated into our existing grid, though care must be taken to site and build renewable energy responsibly