Greenhouse gas emissions are the primary cause of increasing environmental catastrophe, most recently evidenced by days of multiple tornados and severe thunderstorms.
This is an existential crisis. Dramatically reducing greenhouse gas emissions, radically reducing burning fossil fuels is the only way to start to mitigate the environmental chaos
Instead, the Biden administration is bringing more oil into the market.
- releasing a record-shattering 180 million barrels of oil from the Strategic Petroleum Reserve, and
- proposing fines on companies that aren’t producing oil on lands they are leasing for that purpose.
Reducing fossil fuel emissions or increasing oil production are mutually exclusive.
Capitalist economic systems are driven by profits regardless of the consequences. Even though the consequences will continue to be rapidly evolving environmental chaos. What choice do you think your children and their children want us to make?
The consequences of increasing gasoline prices need to be dealt with. But there are alternatives to bringing more oil to markets. Greenhouse gas emissions decreased as many worked from home because of the pandemic. Free public transportation would help although capacity would need to be increased significantly, rapidly.
Alternatives to capitalist economic systems need to be developed. Such as Mutual Aid communities.
Even though oil prices have nearly doubled since the end of 2019, US production is down about 10% over that period.
“This is a bridge towards greater supply coming on the market from the United States and elsewhere,” a senior administration official told reporters during a conference call Thursday.
To encourage US oil companies to ramp up production, the White House said Biden is calling on Congress to make companies pay fees on wells from their leases that they haven’t used in years and on acres of public lands that they are hoarding without producing.
Companies “will have to choose” whether to start producing or pay a fee for each idled well and unused acre, the White House said.What Biden’s shock-and-awe campaign means for high gas prices. Analysis by Matt Egan, CNN, March 31, 2022