Fossil fuels should be priced more than renewable energy

Hiking the price of fossil fuels to provide for environmental costs will be an "effective signal for non-conventional options and alternatives," according to Dr R K Pachauri, Chairman, Intergovernmental Panel on Climate Change and Director-General, TERI. Carbon pricing of fossil fuels which are a major source of greenhouse gases that cause global warming is needed to discourage carbon intensive fuels. This will drive up the costs of conventional sources of energy and encourage development of sustainable and renewable energy sources.