With the stock market down, maybe now we have a chance to make a healthy change unless we let trump bail out the wrong industry….again
Now this blog is totally my opinion and wishes for the future. It is a hope, not necessarily an expectation. I have watched for years while the government has worked to bail out long existing companies and left more innovative technology to die a slow, or not quite so slow death.
Well, right now, on Monday, April 20, we are faced with an option/opportunity. The oil prices have plunged to 4.04 a barrel. That is the lowest it has been since 1983 when Nasdaq was created. Some people likely see this as bad news for the economy but I see it ass potential good news for technological advancement and renewable, less pollution ridden energy to replace the destructive methods of energy production that we have held on to slavishly for the last 20 plus years. The 20 plus years is referring to those years that we knew that Climate Change was being sped up by our destructive raping of our natural resources in hanging on to a technology that should have been replaced by solar, water and wind energy long ago.
Now, there is really no silver lining YET. It is not like the clean energy businesses are faring all that well in the current economy. People are not traveling. The solar power salespeople often go basically door to door selling solar panels. That isn’t happening right now either. Social distancing has affected both sides of this schism.
However, the quarantine against Covid-19 gives us a rare opportunity to rethink how we do things. Governors have made announcements already that “normal” is going to be different for some time into the future. Even when businesses open up, there will be precautions that will likely continue to be taken. Restaurants may institute blood testing for the antibodies, or reduce the amount of seating. In other words, we are probably looking at a new normal, not a return to the exact system we had “in the good ole days”.
Personally, I have an old car, which uses gasoline. Buying a new car would be a huge investment right when I am least likely to have an income up spring that would enable such a change. It would be a real challenge although I can picture technology that might be affordable that could convert my car.
However, we have a huge problem. That consists of an administration under trump that favors the rich and powerful. Unfortunately, the oil industry has been both rich and powerful for a long, long time. Right now, they still have a rather over-sized amount of impact and contact with our currently right wing politicians that seem to have taken the country over.
However, it is also true that economic downturns have a tendency to make current regimes be seen as less affective. People, then, become more willing to make changes.
Now, I would never say that the pandemic was a GOOD thing. It is not and threatens the lives of many of us. At one time, the estimate was that we could lose as many as two million lives just in the United States. Fortunately, “social distancing” has had the affect of lowering that death rate. However, while not calling the pandemic a “GOOD” thing, I will say that it has given us a chance to relook at how we move and work in the world. It has given us a chance to re-examine how we abuse and misuse our national resources and move to more clean energy.
So, there is an old saying that “most clouds have a silver lining”. The chance to relook at our culture and our rabid consumerism and subsequent abuse of our environment might just be that silver lining. If only we chose to pay attention to it.
American oil is crashing because it has nowhere to go
The spectacular collapse in oil markets is showing no signs of easing, as the coronavirus crisis saps demand and…