The Pursuit of Low Gas Prices is Bad for the U.S.
It’s a fallacy that we can drill our way to low gas prices, and trying to do so not only threatens our health, but also wastes our money and misdirects innovation. If we stop focusing on the problem of high gas prices and who’s to blame and start pursuing solutions to the true problem—our oil dependence—we might find we agree more than we think.
Oil price volatility carries a huge economic cost. High oil prices have preceded every recession since 1973, and have put mobility industries especially at risk.
Savvy companies get this. FedEx (which burns 1.5 billion gallons of petroleum-based fuels) is now betting on electric or hybrid vehicles, and adding biofuels and natural gas to the mix for its delivery