Americans closely monitor gasoline prices, viewing them as indicators of leaders’ success, economic health, and environmental policy effectiveness. The price of crude oil largely influences gas prices, yet federal and state taxes play a significant role. These taxes, popular due to revenue generation, heavily fund highway and mass transit spending.
The Principles for Responsible Investment (PRI) were launched in 2006 by a group of institutional investors and the United Nations to promote sustainable and responsible investment. It has over 5300 signatories in 80+ countries, holding more than $65 trillion in assets. However, there are criticisms about its voluntary basis and enforcement mechanisms.
Stock market indices reflect market performance and health. Carbon indices, like the S&P 500 Carbon Efficient Index (CEI), weigh companies based on carbon emissions per revenue unit, aiming for lower carbon exposure without altering industry allocations. Over 5 years, the CEI boasted a robust 13% return, outperforming many major indices.
The Gini coefficient assesses income inequality globally, with values ranging from 0 to 1. The impact of energy use per capita on inequality diminishes after reaching 30 GJ. In Europe, there is a pattern of high energy use and low inequality. However, as countries develop, increased energy use doesn’t consistently translate to reduced income inequality.
In 2022, the US consumed 32 trillion cubic feet of natural gas, the highest level in 30 years due to increased fracking. Efforts towards carbon-neutral energy may reduce demand, as residential use is gradually being replaced by electrical alternatives. However, industrial demand is anticipated to remain strong in the near term.
Economic policies impact the volume and nature of energy use and pollutants, including greenhouse gases. Government interventions typically include emissions trading, carbon taxes, and excise taxes. The OECD found that tax and subsidy policies influence GHG emissions and energy consumption globally. Current energy tax policies, however, do not align with GHG reduction goals.
Road transport relies heavily on gasoline and diesel, influenced by government policies that often favor diesel for its efficiency. However, diesel produces more pollution, and the tax revenues it generates complicate change. The debate now centers on speeding up the transition to electric transportation to combat greenhouse gas emissions while balancing historical preferences with environmental concerns.
Access to personal mobility has played a crucial role in people’s life satisfaction, with personal vehicles revolutionizing daily life since the early 1900s. The number of global car registrations has dramatically increased over the years, reaching 1.1 billion in 2019. The energy historian Roger Fouquet explored the impact of personal transportation services in the United Kingdom from the 14th to the 20th century, revealing the economic, social, and environmental changes brought about by the expansion of personal travel.
The transition from traditional lighting methods to modern illumination in the United Kingdom has had significant social, economic, and environmental consequences. Historically, lighting services relied on candles made from animal fat, but the 19th century saw the introduction of new fuels such as town gas, kerosene, and eventually electricity.
Roger Fouquet’s research on the United Kingdom highlights the remarkable growth in energy consumption over centuries. Factors like fuel shifts, improved efficiency, and changing preferences drove the increases. However, efficiency gains led to the rebound effect, where saved energy was partly offset by increased consumption.