Pain from the Pump: Why an Oil price Plunge is bad for the rapidly overheating Earth
With worries about about a wider war in the Middle East fading, crude oil prices have dropped below $68 a barrel after having been above $86 in April, with gas prices also falling.
Good for fossil-fueled drivers? Yes. Good for the planet? No.
READ MORE ABOUT EV TRENDS
So sorry, planet Earth, but we Americans are really not all that interested in EVs
The EV unfaithful: 81% Of Electric Vehicle Owners also Have a Gas-Powered Car
There was a theory that if gas rose above $5 a gallon, Americans would be more likely to own EVs. That they would use home heating oil more economically. That jet engine makers would press more for greater efficiency. That there would be a greater move toward renewables such as solar and wind power.
Well, those theories have been put on hold for now. Both the current administration and, whatever the outcome of the election, the future one, believe that crude oil is and will be essential to low energy costs and U.S. energy independence.
And along with skepticism about EV ownership when the average price for a gallon of regular gasoline nationwide is under $3, there are still the concerns about range and charging station availability.
Low oil prices are an enemy of the environment — and they are likely to stay low for the foreseeable future.
More from ClimateCrisis 247
- A Thanksgiving hurricane? Forecasters say the holiday could be a Turkey-tosser
- Deep Sea Creatures Not Free From Plastics
- Kamala’s karma: How a Harris win could affect climate-oriented stocks (and others)
- Should Trump triumph, what to expect for climate-change policy and investing
