- Sep 19, 2011
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Today as I write this the USA is responding to Russia's Ukraine threat by REDUCING the USA's independence on energy sources while
increasing dependence on Russia fossil fuels.
Russia thus became the third-biggest oil supplier to America in 2020, according to Bloomberg’s estimates.
oilprice.com
This Biden's concerted effort to reduce fossil fuels raises a question that I don't think reduction advocates have considered.
If fossil fuel companies see their market share permanently targeted for reduction what will the short term reaction be?
Raise prices of gas. So not only will the consumer see the impact at the gas pump but indirectly in the supply chain as fuel costs
rise due to fossil fuel providers raising their prices.
So a direct illustration is this:
As of today: USA gallon of gas $3.466 One year ago $2.497 or a nearly 40% increase.
Based on this fact:
Every day Americans buy an average of about 338 million gallons per day (or about 8.05 million barrels per day).
So Americans are paying out in one year nearly $119,627,410,500 or $119 BILLION a year to reduce the dependency on gas!
Has this $120 Billion been calculated in the greenies cost to abolish fossil fuels?
More importantly, have Americans truly understood what "green deal" is all about?
Now here is one "economist's" position regarding Green New Deal..
Robert Pollin, an economist at the University of Massachusetts Amherst, thinks it’s entirely possible to get to net zero by 2050 by spending around 2 percent of GDP each year, or around $18 trillion in total.
“$18 trillion is real money,” he said. “But when you spread it out over 30 years, it’s entirely feasible and it will have a lot of economic benefits in addition to getting us down to zero emissions.”
www.factcheck.org
Based on the 30 years projected net zero CO2 time frame..
Based on today gas prices staying the same at $3.466 for 30 years... $120 Billion times 30 years: $3,588,822,315,000 ...$3.5 trillion.
JUST in one commodity consumers gas purchases static price for 30 years at $3.466 vs year ago price $2.497 or 40% increase.
Again... price stays static as demand stays the same...except possibly electric cars replacement...which is another calculation!
increasing dependence on Russia fossil fuels.
Russia thus became the third-biggest oil supplier to America in 2020, according to Bloomberg’s estimates.
The U.S. Imports Record Share Of Russian Oil Despite Tensions | OilPrice.com
U.S. refiners have turned to Russian oil and petroleum products to fill the gap that sanctioned Venezuelan crude and drastically reduced OPEC shipments have left in U.S. imports, despite the energy standoff between the United States and Russia
oilprice.com
This Biden's concerted effort to reduce fossil fuels raises a question that I don't think reduction advocates have considered.
If fossil fuel companies see their market share permanently targeted for reduction what will the short term reaction be?
Raise prices of gas. So not only will the consumer see the impact at the gas pump but indirectly in the supply chain as fuel costs
rise due to fossil fuel providers raising their prices.
So a direct illustration is this:
As of today: USA gallon of gas $3.466 One year ago $2.497 or a nearly 40% increase.
Based on this fact:
Every day Americans buy an average of about 338 million gallons per day (or about 8.05 million barrels per day).
So Americans are paying out in one year nearly $119,627,410,500 or $119 BILLION a year to reduce the dependency on gas!
Has this $120 Billion been calculated in the greenies cost to abolish fossil fuels?
More importantly, have Americans truly understood what "green deal" is all about?
Now here is one "economist's" position regarding Green New Deal..
Robert Pollin, an economist at the University of Massachusetts Amherst, thinks it’s entirely possible to get to net zero by 2050 by spending around 2 percent of GDP each year, or around $18 trillion in total.
“$18 trillion is real money,” he said. “But when you spread it out over 30 years, it’s entirely feasible and it will have a lot of economic benefits in addition to getting us down to zero emissions.”
How Much Will the 'Green New Deal' Cost? - FactCheck.org
Since the ambitious and controversial Green New Deal debuted last month, Republicans and Democrats have sparred over the cost of the resolution, sometimes erring in their descriptions of the proposal and the costs of climate action and inaction.
www.factcheck.org
Based on today gas prices staying the same at $3.466 for 30 years... $120 Billion times 30 years: $3,588,822,315,000 ...$3.5 trillion.
JUST in one commodity consumers gas purchases static price for 30 years at $3.466 vs year ago price $2.497 or 40% increase.
Again... price stays static as demand stays the same...except possibly electric cars replacement...which is another calculation!
