Biden using oil reserve
samedi 10 septembre 2022 à 06:47Biden has started using the US Petroleum Reserve to stabilize oil prices, which ideally ought to regulate the rate of oil drilling and maintain a strong incentive to conserve.
This plan will do some good, but I think it will not, by itself, bring about fast enough decarbonization. And it certainly won't prevent busting the carbon budget. We need to accompany it with a carbon tax that will increase yearly on a predefined schedule. However, the Republicans plus Sinema and Manchin block that, for now.
If the public has an incentive to conserve fossil fuels, that doesn't make it practical for people to do so. That requires investment, and most Americans have no money to invest, in this or in anything. We need governments, at whatever level, to make this investment.