Geo-politics isn’t always kind, and is always beyond our control. This time the continuous high production of oil, which some experts say is to punish Russia, Iran and Venezuela while forcing North American production down, is helping us Americans at the pump with prices nearly on par with 1970 dollars.
One would think that this is welcome news and it is — and isn’t. We can use the money saved at the pump to pay down personal debts, make critical purchases we’ve been putting off, and infuse money into the economy that is still recovering from the 2008 recession. There is also potential good news for the environment. With lower oil prices it will be harder for oil companies to invest in expensive extracting of natural gas by fracking and extraction of oil from Canadian tar sands. This should stall environmentally risky gas and oil production practices.
One the other hand, gas powered car production has increased to round-the-clock manufacturing in some factories. With an influx of new cars that will certainly find their way to the roads, they will contribute to increased greenhouse gas production.
What to do? Greening Neighborhoods’ suggestion is to behave as if gasoline prices were at the $4.00 a gallon price point. In other words, use public transportation, car pool, walk, bike and trade in the gas powered car for one that runs on batteries. Low pump prices are not forever.