Oil prices closed above $80 a barrel for the first time today, sending some shock-waves through the economy, garnering some news headlines, and generally pissing a lot of people off. For those of us working on climate, it’s another piece of good news in many ways. I was in Detroit, MI when gas prices first hit $3 a gallon – - before that talking about fuel-efficient cars was nearly impossible, after, well, people began listening.
Any one want to take bets on when we’ll be hitting $100 a barrel? It seems extreme right now (cool it, peak oil enthusiasts, we know you’re itching for the day). But, perhaps its not so far off – - oil prices have increased four fold since the year 2000. Throwing on another $20 a barrel doesn’t seem like such an improbability.
The high price of oil should also be a stimulus for another discussion that isn’t happening in the media. Who benefits from the higher oil prices and who really pays? The new price jump should be a chance for all of us to reinvest (no pun intended) in the conversation of how to help those struggling with home-heating costs, how to provide public transit for those who increasingly can’t afford the drive to work, and how to take it to the oil companies and corrupt governments who are watching the cash flow in. It’s not the “economy” that suffers – Exxon’s doing just fine – it’s average people trying to pay the bills.
