Raymond J. Learsy

The Potential Collapse of Oil Prices Makes Restraint of Gasoline Consumption Key to Controlling CO2 Emissions

We are all becoming well aware of the dangers of an impending and catastrophic climate crisis. The State of California, only recently with bipartisan cooperation, passed laws committing to sharp reductions CO2 emissions. So too have some 295 American cities.

Al Gore has warned that we are near the tipping point of climatic catastrophe. The “Scientific American” has published a prominently featured article recently, whose lead sentence is “The debate on global warming is over.” There is a growing consensus throughout the land that emergency solutions are needed. That we owe forceful action now to the planet, and to future generations.

Yet there is rarely a balanced discussion on the issue of automobile fossil fuel emissions, perhaps the most serious CO2 contaminant extant. Yes, there are a plethora of solutions put forward from downsizing our cars, to switching to bio-fuels, hydrogen powered engines, electric powered and hybrid vehicles, and on. All of which will take time, years perhaps, before they have a serious impact. But never or at least rarely ever, has there been a serious discussion on curtailing the availability of gasoline and thereby moderating our driving habits almost overnight. Why is this issue taboo? We did it during World War II, successfully, and with a great sense of shared purpose.

The issue of constricting gasoline consumption is now becoming urgent. We are all well aware that gasoline consumption has been somewhat curtailed by the recent high price of gasoline. Crude oil is the largest component by far, in the construct of gasoline prices. And the price of crude oil has been falling sharply.

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