1. Draw a supply and demand line for "fossil fuels".
2. Use data from, or something else you find online,
that supports the idea of global warming based on human consumption of fossil fuels. Please explain that fact and link it to global warming and the negative externality that it causes. (ex. more carbon = warmer ocean = fewer marine animals)
3. Using your supply and demand market diagram, show on the diagram what happens to the supply line if we include the extra cost of this negative externality.
4. Explain why that means the market over-allocates resources to fossil fuels.