Americans Rejoice At Lower Gas Prices

HughPickens.com writes Drivers across America are rejoicing at falling gasoline prices as pumps across the country dip below $3 a gallon. According to Sharon E. Burke while it's nice to get the break at the gas pump and the economic benefits of an energy boom at home, the national security price of oil remains high and the United States should be doing everything it can to diversify global energy suppliers. Ultimately, the only way to solve our long term energy problem is to make a sustained, long-term investment in the alternatives to petroleum. But October saw a 52 percent jump in Jeep SUV sales and a 36 percent rise in Ram trucks while some hybrid and electric vehicle sales fell at the same time. "This is like putting a Big Mac in front of people who need to diet or watch their cholesterol," says Anthony Perl. "Some people might have the willpower to stick with their program, and some people will wait until their first heart attack before committing to a diet—but if we do that at a planetary scale it will be pretty traumatic."

Nicholas St. Fleur writes at The Atlantic that low oil prices may also undermine the message from the UN's climate panel. The price drop comes after the UN declared earlier this week that fossil fuel emissions must drop to zero by the end of the century in order to keep global temperatures in check. "I don't think people will see the urgency of dealing with fossil fuels today," says Perl. Falling oil prices may also deter businesses from switching to energy-saving technology, as a 2006 study in the Energy Journal suggested. Saving several pennies at the pump, Perl says, may tempt Americans away from actions that can lead to a sustainable, post-carbon future.

Comments

Re:Thanks fracking

[knightghost]

The world has gotten a bailout due to trillions spent on military forced stabilization.

I for one am boggled why some think they can change human nature. We consume. Start looking at how to adapt to climate change instead of some fantasy of avoiding it.

Re:Bizarre

[ShanghaiBill]

The Saudis are bottoming-out the price of oil to punish marginal north American oil producers, and the Russians

Partly. But their main target is Iran. Iran is hurting under the sanctions, and is under a lot of economic pressure to cut a deal on their uranium enrichment. The oil price drop is turning up the pressure big time. Nobody fears a nuclear Iran more than the Saudis, not even the Israelis.

If Iran reaches an agreement with the P5+1 on uranium, then expect the price of oil to rebound quickly as the Saudis shut off the spigot.

Re:Pot, meet the Fat Kettle

[Shakrai]

but collectively it massively increases healthcare, cleaning and military costs.

The United States sources the lion's share of her crude oil from western hemisphere sources. Most of these have friendly relations (Canada, Mexico) with the United States, are domestic (off shore) resources, or come from countries (Venezuela) that talk a big game about how horrible the Yankees are but continue to do business with them.

China, Japan, and the EU are the major economies that are dependent on Middle Eastern oil, which begs the question of why they aren't the ones spending their blood and treasure to try and stabilize the region. In the case of the EU and Japan it's an unwillingness on the part of their populations to engage in such adventures, combined with the fact that they have no need, since the United States is willing to do it for them. In the case of China it's a lack of power projection ability combined with the trepidation the West and Japan would feel if China started intervening in the region. Personally I think we should let them have a go at it; it would give the radicalized elements in the Middle East someone new to hate, at least for a little while.