Cheap oil is blocking progress on climate change
- Written by Scott L. Montgomery, Lecturer, Jackson School of International Studies, University of Washington
Ford's F-150 trucks are more popular when gas costs less.AP Photo/Carlos Osorio
The relationship between supply and demand, a fundamental economic concept, holds that when the price of something rises, people use less of it. Similarly, when prices fall, they use more.
And it may seem logical that low oil prices benefit consumers, countries, even...