OPEC announced last week that it would not cut its oil production, which accelerated an enormous drop in oil prices. While lower gas prices at the pump and a boost to the economy are generally welcome, we shouldn’t celebrate this time. If this (likely) short-term fall in prices slows down investment in cleaner forms of energy, we’ll all pay in the long run.
The Drop in Oil Prices Might Be Bad for Business
It lets us delay necessary investments.
December 03, 2014