It’s an interesting theory, that high oil prices spur more investment in what some would call “antiquated” energy sources.
Every week we’re hearing lawmakers clamor that “Average Americans” are hurting, and something needs to be done to lower the price at the pump; but a lot of people are winning while prices skyrocket.
Some environmentalists, who lament big polluting industries and SUV’s alike are elated over 4 dollar gas. They remain so while cheering their push to categorize the polar bear as an endangered species, to stave off oil drilling in ANWR, Alaska.
But the environmentalists may be the biggest fools in the worldwide picture, as if high oil somehow represents the beginning of the end for fossil fuels.
High prices will not bring about the end of fossil fuel; rather, they’ll encourage more investment and technological progress to bring vast new resources of fossil energy into production.
High Prices = A New “Black Gold Rush?”
Washington has seen an uptick in pressure from the oil lobby to allow research and exploration into turning our reserves of coal, oil sands and oil shale into fuels, which can supposedly produce the same energy for about half of today’s oil price.
This is the worst case scenario for environmentalists who’re concerned with the release of carbon into the atmosphere.
Bottom Line: Cheap Gas = Less Pollution?
Maybe… If demand is reduced, usage follows, and new technologies emerge which force oil moguls to abandon their decades long efforts to bring more oil to the market.
In February, the mileage Americans drove daily fell for the first time in 26 years. However, pollution from automobiles makes up just a small fraction of the so called “dangerous” greenhouse gasses released into the atmosphere.
General Motors announced last week they’ll close 4 truck and SUV plants, to focus more on 4 cylinder vehicles, which have seen a dramatic rise in sales across the country.
However, referencing the relatively small amount of pollution created by cars, more fuel efficiency cannot justify the billions of dollars the environmental lobby spends on climate change propaganda, at least not if the goal is to clean up the environment.
Meanwhile, while Americans tread lightly in delicate and politically correct times, China and India are just beginning to hit their stride in oil use… and while lawmakers and greenies adopt a “not in my back yard” approach to drilling in America, they are all to quick to ask that other countries cover every bit of their land with drilling rigs, to feed our thirst.
Fox News contributed to this post.