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High fossil fuel prices are good for the planet—here’s how to keep it that way

June 20, 2022

In the UK, it now costs more than 100 pounds to fill up a typical family car with petrol, and oil prices could rise even further. But are such high prices for fossil fuels a bad thing? While attention is focused on measures to tackle the global cost of living crisis, there has been much less focus on a very uncomfortable truth—that solving the climate crisis requires fossil fuel prices for consumers to stay high forever.

Saying such a thing may seem tone-deaf. Millions of households in rich countries are facing a choice between heating and eating. In poorer countries, the situation is immeasurably worse. Rising prices for gas have dramatically increased the cost of fertilizer, while the war in Ukraine is hampering the export of its wheat.

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