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As an effort to reduce factory-based pollution, carbon taxes are being implemented by the government, but what do they do and how effective are they really? Graphic illustrating the costly nature of nonrenewable energy resources To understand the real cost of large industries' activities, one needs to understand externalities and their wide-scale impact. In economics, an externality is an unintended side-effect of an activity that affects third parties not directly involved.

With the rise of carbon dioxide emissions and limited deposits, how do the alternatives to fossil fuels look? Is it possible to fully transition to renewable resources in the near future? Wind turbines converting wind energy to electrical energy Right now, around 80% of global energy comes from fossil fuels. Conventional energy sources like oil, coal, and natural gas are so commonly used because they are incredibly energy dense and don't rely on factors like the sun and wind