Cheap Oil & Climate Change

Now that oil prices have dropped to their lowest point in years, Conservative pundits are predicting the demise of clean, renewable sources of energy.  Investors have also punished the stocks of solar, wind and fuel cell companies, concluding that their glory days are over.  Neither group seems terribly concerned about the issues of pollution and climate change.

Of course, in this fickle world, where a terrorist attack or military conflict is just a news day away, the price of oil could rebound at any time, rescuing the profits of oil companies and the budget of several fragile oil-producing countries.  As we accept the gift of low gas and heating oil prices for the holidays, business panels debate whether Americans will return to gas-guzzling vehicles and lose interest in electric cars.

Once again, corporate policies focus on the short-term prospect for profits and the global factors that might impact that goal; the opportunity to address global warming has taken a back seat to dealing with a worldwide glut of oil.  In the end, of course, it doesn't matter if we destroy our planet by burning cheap or expensive fossil fuel.