In recent years, over-consumption of natural resources, such as oil and water has become apparently an issue that many people feel strongly about. This essay will discuss the principal reason for this phenomenon, as well as outline potential solutions. (In my perspective, I think that your first sentence is not compatible because that does not match question's requirement. As the question indicates that "The consumption of the world's resources (oil, and water etc.) is increasing at a dangerous rate", compared with your sentence that just mentioned about the phenomenon and did not outlined "dangerous rate")
In your second sentence, you should not use "the" and should exert plural noun for reason in "the principle reason". OR maybe you can use these words such as "dominant reasons" nhung nguyen nhan chu yeu, and feasible, auspicious solutions or measurements (giai phap kha thi)
First of all, there are several main reasons associated with the accelerating level of natural resources consumption, the most important of them is the significant decrease in the price of these natural resources. (I think this one can change into more slightly than you did, such as applying a complex structure: although there are multiple prime reasons in association with the accelerating level of natural resources exploitation, the most important cause among them is .....)
Thanks to many technological developments, we can exploit more easily and more effective resources from nature; therefore, the price of natural resources plummets. In other words (why did you use this phrase, why did not you apply "additionally" or "thereby" because to be honest, your previous sentence is a reason and your next sentence is consequence), it encourages people to use these resources, particularly fossil fuel and simultaneously (this suppliments for what, i guess you wanted to use together with "hinder" ---- "simultaneously hinder"), hinders the efforts of converting to the sustainable alternatives, which cost enormous budget to research and develop. (My advice is you should split over this sentence into two dependent sentences, as this sentence is just missing words up, readers would face challenges to understand your viewpoints).
In addition, as standards of living (as living standards) have continued to rise recently (Since the living standards have been significantly improving), especially in developing countries such as China or Vietnam, more people are able to afford a higher level of resources. For example, because Vietnamese citizens become wealthier, they prefer driving cars or motorbikes than walking, so the time for moving is optimized.
In order to resolve these problems, there are some feasible solutions to be adopted. The most practical solution would be that the authorities impose higher taxes on natural resources, especially on fossil fuel. Not only would this be advantageous to the environment, but the money gained can also be used to develop renewable and sustainable resources. Another solution might be recommending that governments should raise citizen’s awareness about the importance of natural resources as well as the negative impact of over-consumption of them.
In conclusion, the above-mentioned facts illustrate why natural resources are over-consumed. However, I am convinced that these measures suggested above must be implemented to tackle this situation.
The abovementioned comments is just my opinions, i hope that you can find something usefull. Keep up with!.