Why do we put so much faith in the market to solve environmental problems? Why do we assume that increasing the cost of fossil fuel emissions will reduce their use rather than just increase everyone's cost of living? Petrol prices have doubled in the past few years, yet petrol usage has not declined significantly. There has been no mass shift to public transport, no major decline in car sales, no flood of affordable hybrid and electric cars on to the market. Why? Because the market has not been able to provide the alternatives required. Large-scale investment in public transport systems and cycleways, land-use planning and car emission standards require government investment and intervention in the market.
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