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Sometimes we fail to act until forced to. Such is probably true for climate change. Except that now is undoubtedly the time we are finally forced to act.
What is on the minds of Americans? The Jan. 6 hearings? The war in Ukraine? The plight of immigrants?
No, Americans are concerned about gas prices. Record-high gasoline prices, felt in the pocketbook, blamed on the president and grumbled about ad nauseam.
Don't get me wrong. Gas prices are problematic. But as an economist, I can tell you they are not the fault of the president. Demand for gasoline is strong, Russian oil is severed, OPEC wields its power, the shipping industry restricts supplies, and the U.S. oil industry is concentrated in the hands of four companies that use their market power to drive up prices and acquire record profits. (These profits exceeded $27 billion in the first three months of 2022, double to quadruple their previous levels.) Antitrust enforcement, anyone?
No, that introduction was meant as a joke. People do not understand the role of market power by OPEC, the shipping industry and the U.S. oil industry, and as consumer advocate Ralph Nader once noted, antitrust activity is "too complex, too abstract and too supremely dull." People would far rather complain about high gas prices and blame those who have nothing to do with it.
Look at it this way. This is what we've waited for. We are finally forced to act on climate change. Today's CO2 levels are the highest since the Pliocene Epoch. The heat waves, wildfires, flooding, droughts, rising sea levels and violent storms are out of control, destroying lives, livelihoods and food production. It is only getting worse, far worse.