How cheap oil is pushing global efforts on climate change far off course

Until and unless electric vehicles become dominant, it will prove extremely hard to wean the world off of oil

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 the world. When consumers save money on gas, they can spend it elsewhere.

Yet, I argue that climate change makes this view obsolete.

That’s because cheap oil has two big downsides along with its short-term gains. It erodes the advantages of vehicles that get more miles to the