Again the US admin proves how dumb they are, even Pres. Bush II knew it would be real stupid to attack Iran.

But one thing, higher oil prices may get the US to really get working to avoid Climate Change. Yes, some progress has been made, but real CO2 emissions is increasing. The only time it decreased a bit was during the Covid Shutdown.

But one plus may occur, higher price of oil.

Yes, higher prices will cause suffering with the poor and middle classes, but that suffering pales in comparison to what +1.5C will cause. We are already on track for more then 2C. Suffering from that will be far worse than $150 USD price per barrel. Better to take a small hit now and hope it can keep us below 1.5C then trying to live with 2C.

Yes, I posted this knowing it will be down-voted, but cheap oil only makes +3C guaranteed to happen. Who cares about the young anyway /s

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reillyse 3 hours ago | parent [-]

I think you are failing to understand how (some) people think in the US. Expensive oil for some means that we should drill more oil wells. There is money sitting under the ground and we stick a pipe down and get it - AMAZING.

That is how people think about high oil prices.

If oil was to go to zero people would stop pumping it and burning it (for that to happen the alternatives have to be cheaper/better). That is what will fix climate change in the US.

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SauntSolaire 2 hours ago | parent [-]

The demand for oil will likely never truly go to zero; too many products (outside of energy generation) rely on their byproducts.

As for the bigger picture — yes, higher prices for oil might spur extraction in regions outside of the middle east, but that's a local only viewpoint. Globally, higher oil prices reduce consumption and make green alternatives more attractive on net.

	▲	bluGill 43 minutes ago \| parent \| next [-]
		I'm not convinced. As those other things become less byproduct and more the product that oil is pumped for the costs change. Oil is cheap today in part because of volume. However as volumes go down a lot of the infrastructure doesn't make sense to run at all. We will need to build new smaller refineries to handle the smaller world demand - when oil companies look to do that they are going to ask for who will sign a long term contract (even a small refinery is expensive) and a lot of users of oil are going to realize that alternatives to oil are perhaps more expensive, but they don't involve the same long term contracts. Poorly managed companies are the ones who won't sign the contract and when they discover they can't get oil anymore they will be forced to look for an alternative, and that will drive investment in the alternative. (we already know how to make plastics from plants - it is just more expensive - but someone forced to use plant based plastics will be sure to market their green features)
	▲	esseph 2 hours ago \| parent \| prev [-]
		> Globally, higher oil prices reduce consumption When oil is high, GDP takes a hit. Less is happening.