Homework Help is Here – Start Your Trial Now!
Science
Earth Science
Imagine that we were to usepolicy to internalize all the external costs of gasoline (pollution,health impacts, climate change, damage from oil drilling andtransport, etc.), and that as a result, gas prices rise to $13per gallon. What effects do you think this would have on thechoices we make as consumers (such as driving behavior andtypes of vehicles purchased)? What influence might it haveon the types of vehicles produced and the types of energysources developed? What effects might it have on our taxesand our health insurance premiums? In the long run, do youthink that internalizing external costs in this way would end upcosting society more money, or saving society money? Whatfactors might be important in determining the outcome?

Imagine that we were to usepolicy to internalize all the external costs of gasoline (pollution,health impacts, climate change, damage from oil drilling andtransport, etc.), and that as a result, gas prices rise to $13per gallon. What effects do you think this would have on thechoices we make as consumers (such as driving behavior andtypes of vehicles purchased)? What influence might it haveon the types of vehicles produced and the types of energysources developed? What effects might it have on our taxesand our health insurance premiums? In the long run, do youthink that internalizing external costs in this way would end upcosting society more money, or saving society money? Whatfactors might be important in determining the outcome?

Applications and Investigations in Earth Science (9th Edition)
Applications and Investigations in Earth Science (9th Edition)
9th Edition
ISBN:9780134746241
Author:Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Publisher:Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Chapter1: The Study Of Minerals
Section: Chapter Questions
Problem 1LR
See similar textbooks
icon
Related questions
Question

Imagine that we were to use
policy to internalize all the external costs of gasoline (pollution,
health impacts, climate change, damage from oil drilling and
transport, etc.), and that as a result, gas prices rise to $13
per gallon. What effects do you think this would have on the
choices we make as consumers (such as driving behavior and
types of vehicles purchased)? What influence might it have
on the types of vehicles produced and the types of energy
sources developed? What effects might it have on our taxes
and our health insurance premiums? In the long run, do you
think that internalizing external costs in this way would end up
costing society more money, or saving society money? What
factors might be important in determining the outcome?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Applications and Investigations in Earth Science …
Applications and Investigations in Earth Science …
Earth Science
ISBN:
9780134746241
Author:
Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Publisher:
PEARSON
Exercises for Weather & Climate (9th Edition)
Exercises for Weather & Climate (9th Edition)
Earth Science
ISBN:
9780134041360
Author:
Greg Carbone
Publisher:
PEARSON
Environmental Science
Environmental Science
Earth Science
ISBN:
9781260153125
Author:
William P Cunningham Prof., Mary Ann Cunningham Professor
Publisher:
McGraw-Hill Education
Earth Science (15th Edition)
Earth Science (15th Edition)
Earth Science
ISBN:
9780134543536
Author:
Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Publisher:
PEARSON
Environmental Science (MindTap Course List)
Environmental Science (MindTap Course List)
Earth Science
ISBN:
9781337569613
Author:
G. Tyler Miller, Scott Spoolman
Publisher:
Cengage Learning
Physical Geology
Physical Geology
Earth Science
ISBN:
9781259916823
Author:
Plummer, Charles C., CARLSON, Diane H., Hammersley, Lisa
Publisher:
Mcgraw-hill Education,
SEE MORE TEXTBOOKS