Oct. 15. The big drop in oil prices is expected to give a trillion dollar boost to the world says Citigroup. That’s a trillion a year for the next few years. It’s all because the U.S. and Canada have unlocked immense stores of oil from shale rock and tar sands. Everything that depends of fuel from cars to framing will become cheaper. That means more cars, more trucks, more international trade.
The problem is with oil and gasoline cheaper lots more of it will be burned and our headline rush to climate hell will come that much sooner.