ans in discovering alternative forms of energy, such as solar energy, hydrogen energy, etc that seem to affect the social value of fossil fuels adversely (Foster & Witcher, pp. 39-51, 2009). However, fossil fuels continue to enjoy their economic importance despite of such adverse effects.
In particular, this paper will focus on social value of the fossil fuels, as well as alternative fuels along with some light on the unleaded petrol that has becoming common in various countries around the globe due to its associated benefits. In order to evaluate social value of fuels, it is very important to understand the meaning of this notion. According to experts (OECD, pp. 10-13, 2006), social value is an entity that indicates a product or service’s benefit in line with the well-being of citizens of the society. In addition, social capital is one of the major aspects of social value that relates to the goodwill and trust that an organization or a product acquired during a period of various years.
From this understanding, it will now be easier to evaluate social value of the fuels that seem evident from results of the different researches. In specific, fossil fuels are playing an imperative role in the human society; however, at the same time, its social value seems to diminish every day and every year due to a number of factors. According to the social value theory, that is the basic premise of evaluating social value, ‘everything is connected to everything else’ (Kramer & Bazerman, pp. 55-63, 2009), and these connections allow the organisms to identify some patterns that create the social value. From this principle, fossil fuels seem to be focusing on the necessity aspect of the human society; however, at the same time, they have been affecting the citizens with their increased costs and prospective adverse impacts associated with them that indicate lower social value of fossil fuels in the human society.
One of the basic ways of evaluating social value of fossil