As gas prices rise, it could actually help the environment?
Over the past few weeks, gas prices have gone up substantially. In the US, the average gas price surged to four dollars per gallon.
Ukraine and Russia
The war between Ukraine and Russia is the biggest stakeholder. Ukraine produces 5.2% of the natural gasses. Russia produces 12% of the natural gasses.
With the countries that are allied with Ukraine shunning Russia and stopping imports and exports, their biggest source of gas is unavailable. In Ukraine, on the other hand, people are struggling to live - and are putting their lives at risk to fight in the war to protect their country, or leave. Extracting natural gasses is not their main priority.
In March 2020, as the entire nation went into lockdown, gas prices plunged. Most American drivers cut their driving in half. As vaccines came out, more people felt comfortable driving. With the sudden surge of traveling and driving post-pandemic, gas prices have begun to surge as well.
What Are States Doing to Help the People?
From Connecticut to Georgia, states are decreasing their gas taxes, while others have a different approach.
California’s Governor, Gavin Newsom, proposed to have three months of no gas taxes - and three months of free public transportation.
The plan to decrease gas taxes can not work long term. The money from the taxes goes to building better roads and fixing things that need to be fixed. Without this, in a few years, there won’t be any funding to repair or rebuild the roads.
Better for the Environment?
The increasing prices of gas, oil, and coal are good for the environment - because it decreases the continuous demand for fossil fuels. This goes to show that global warming is a huge problem that needs to be addressed. With plans such as Governor Newsom’s, more people will transition to a green-energy approach.
Governor Newsom’s plan would be ideal for the environment. With gas prices still going up, California has the highest gas prices, averaging $5.83 per gallon. To reduce spending, people will start carpooling or taking public transportation. People might also invest their money in buying an electric car.
Other countries have already begun combating global warming.
The European Union, for example, has extremely high gas prices, to encourage people to walk, bike, or take public transportation. In 2005, the EU created the Emission Trading System. This trading system, the first of its kind, is a greenhouse gas emissions trading scheme. This means that the EU’s government caps the amount of carbon emission that can be emitted each year.
As the increasing gas prices have people worrying, there could be a positive side to this change.