United States domestic oil production has hit an all-time high last week, contrasting with efforts to slice heat-trapping carbon emissions by the Biden administration and world leaders.
OPEC+ is cutting production to keep the price high and the US is producing like crazy to fill that gap. The Biden administration wants low oil prices for the obvious domestic advantage, but also to weaken Russia and the oil countries in the Middle East. So they allow increases in oil production. The proper solution is to lower consumption as quickly as possible, but hard pushes against combustion engine cars have not happend in the US, whereas both China and the EU have already passed phase out laws. I wonder why.
We, as in US residents, wouldn’t be so worried about oil prices if we didn’t have mandatory car ownership.
Real estate prices in places where you don’t have to own a car are on the moon. It’s almost like a lot of people really hate owning cars and everything that entails.
hard pushes against combustion engine cars have not happend in the US,
The IRA is a big push for electric and that is definitely being felt across the pond. California has also started to require electric delivery trucks, etc. There is a heavy focus on industry politics rather than improving people’s lives though.
whereas both China
Unfortunately, a lot of the electric cars in China so far are
likely just additional cars. While there is a definite benefit from this vs. the Chinese buying a ton of new ICE cars, I am not sure those new cars actually work to lower emissions/fossil fuel demand.
and the EU have already passed phase out laws.
The EU was planning to stop the sale of new ICE cars in 2027, but conservatives made sure the date was 2035. And the German (neo-)“liberal” party successfully lobbied for the approval of e-fuel-only ICE cars.
So yeah, a mixed bag. Personally, I am optimistic we’ll arrive in a post-fossil economy. I am less optimistic about the timing of it.
Once you stop the sale of new fossil fuel powered cars, you can just wait until the old ones will be scrapped, break down or crash. Especially new cars are almost impossible to fix without proper spare parts, which will become hard to buy once production stops. I know some folks lve their old cars, but that is not going to really support the current scale of the oil industry at all.
OPEC+ is cutting production to keep the price high and the US is producing like crazy to fill that gap. The Biden administration wants low oil prices for the obvious domestic advantage, but also to weaken Russia and the oil countries in the Middle East. So they allow increases in oil production. The proper solution is to lower consumption as quickly as possible, but hard pushes against combustion engine cars have not happend in the US, whereas both China and the EU have already passed phase out laws. I wonder why.
We, as in US residents, wouldn’t be so worried about oil prices if we didn’t have mandatory car ownership.
Real estate prices in places where you don’t have to own a car are on the moon. It’s almost like a lot of people really hate owning cars and everything that entails.
The IRA is a big push for electric and that is definitely being felt across the pond. California has also started to require electric delivery trucks, etc. There is a heavy focus on industry politics rather than improving people’s lives though.
Unfortunately, a lot of the electric cars in China so far are likely just additional cars. While there is a definite benefit from this vs. the Chinese buying a ton of new ICE cars, I am not sure those new cars actually work to lower emissions/fossil fuel demand.
The EU was planning to stop the sale of new ICE cars in 2027, but conservatives made sure the date was 2035. And the German (neo-)“liberal” party successfully lobbied for the approval of e-fuel-only ICE cars.
So yeah, a mixed bag. Personally, I am optimistic we’ll arrive in a post-fossil economy. I am less optimistic about the timing of it.
Once you stop the sale of new fossil fuel powered cars, you can just wait until the old ones will be scrapped, break down or crash. Especially new cars are almost impossible to fix without proper spare parts, which will become hard to buy once production stops. I know some folks lve their old cars, but that is not going to really support the current scale of the oil industry at all.