Oil prices have been lower than they have been in 5 years for a few months now. In fact, they are a whopping 57% lower compared to Dec 2008. When the average price of all grades was $4.10 compared June of this month; where the average price of oil is down to $2.37 (U.S Energy Information Administration (EIA) U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon) 2016). However, it is up from just this past February when it was at $1.87 which has not been seen since Jan of 2008. But is this a good thing? Sure, the average person can now fill their tank up for about $20 bucks. Not to mention road trips are going to big this year, but what kind of impact is all of this cheap oil having on our environment. It only stands to reason that cheaper oil means more cars and trucks on the road and planes in the sky, releasing even larger amounts of CO2 and other harmful greenhouse gasses into our atmosphere. So that leaves one very simple question. Is it doing any harm? According to Roland Hwang, the director of the energy and transportation program at the Natural Resource Defense Council. “When it comes to the climate, every bit matters, and we need to continue to be on a downward trajectory,” Said Hwang. “It’s not as devastating for the environment as it was in the 90s when we had no carbon constraints in place, but I’m still worried.” It would seem that the numbers support Hwang’s concerns. CO2 Emissions were up 3% higher in August of 2015 last year When Hwang was interviewed. In fact according to Richard bets with the Met Office Hardly Center in the U.K. We are seeing levels of CO2 in the 400 PPM for the first time in 4 million years. Higher oil prices would without a doubt help slow this trend. Higher gas prices mean fewer vehicles on the road and fewer planes in the sky. This is because although most people are not necessarily worried about saving the environment. They are apprehensive about saving money and not “burning it” in their gas tanks. People are more willing to use public transportation, and God forbid there own two feet to get around in an effort to protect their hard earned cash. This may seem inconvenient and troubling to most, but I’m more troubled by the fact that our generation is responsible for putting more CO2 and greenhouse gasses in the are than when Mammoths and Sabertooth cats walked the earth in the Ice age. We have to be willing to sacrifice to be able to have a planet that our descendants will even be happy to call their home.

As bad as that all sound we also have to look at the economic effects of cheap oil is having on the world. There are many countries in the world that their entire economy is set up around producing oil and gas. Countries like Nigeria and  Venezuela must have at least $80 a barrel prices to be able to support their economy. Right now oil is setting at below $50 a barrel. People are starving to death because without higher oil and gas prices. There just is not any viable work for them. Also in the United States, where we are the leading producer of oil (or at least for a while we were). Hundreds of drilling rigs are sitting because there is no work for them. That’s thousands of hard working honest people that do not have a job right now.
I’m sure by now you are wondering “If you are so upset about the environment, then why would you want people to drill for oil at all?”, And that is a valid point. However, people have to keep in mind that even if we stopped using fossil fuels altogether today. We would still need crude oil to produce the majority of the things that we use every single day. The rubber for tires, food additives, medicines, asphalt for roads and just about every synthetic product you use in your home and everyday life. In fact according to the EIA website. Only 28% of the petroleum that we drill for is used for fuel of any kind including jet fuels and diesel fuels. Not to mention we also get natural gas from drilling which is a considerably cleaner fossil fuel. So yes I am all for us turning to alternative methods of getting around because regardless the oil and gas industry is not going away anytime soon, but we must continue to drill for oil to be able to live and survive in our modern society.

In conclusion I will admit cheap oil seems great on the surface, but we have to look into the future at the long term effects it will have on this planet that we all call home. Sure you can take the road trip to Disney World for half the price, but when your kids or grand kids are wearing ventilator masks because of the frivolous stance the average person takes on this issue. We will have no one to blame but ourselves. Not the government or the oil companies. No one is forcing us to get in the car and turn the key instead of walking, riding a bike, or taking public transportation. That is why Cannon Operating Co is dedicated to doing everything we can to insure a brighter cleaner future for all. Please feel free to drop us a line and let us know what you think.

United States. U.S Energy Information Administration (EIA). U.S Energy Information Administration (EIA). U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon). U.S Energy Information Administration (EIA), 13 June 2016. Web. 16 June

Douglass, Elizabeth. “Americans Are Fueling Up Cheaply, and the Climate Suffers.” Web log post. Http://insideclimatenews.org/. Inside Climate News, 13 Aug. 2015. Web. 16 Jan. 2016.

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