Cheap Oil Threatens Clean Energy Future

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reported that oil prices have fallen to $60 per barrel, pushing gas below $3 in parts of the U.S. While this may seem like good news for consumers, McIntyre explained that it undermines demand for electric vehicles—especially with the loss of the $7,500 EV tax credit—and slows the clean energy transition. With studies suggesting the world has not yet reached peak oil, supply is expected to remain high for the next decade, keeping fossil fuels cheap and abundant at the expense of climate progress.