The Impact of International Crude Oil Prices on Global Carbon Emissions | CBCGDF Climate Change Working Group

The international crude oil price has a profound impact on global carbon emissions. When the price is too low, it may lead to an increase in crude oil consumption. Industries and consumers are more likely to rely on oil-based energy sources, which in turn boosts carbon emissions. This is because lower prices make oil more affordable and attractive compared to cleaner energy alternatives.

 

On the other hand, when the price is extremely high, it can suppress oil consumption. Consumers and businesses may seek more energy-efficient options or turn to renewable energy sources. However, high prices may also encourage more exploration and extraction in some cases, which could potentially offset the reduction in consumption.

 

Overall, a stable and reasonable crude oil price is crucial. It should be set at a level that encourages the transition to cleaner energy while not causing excessive economic disruption. This requires international cooperation and the implementation of appropriate policies to balance economic development and carbon emission reduction.

 

Translator: Richard

Checked by Maggie

Editor: Richard

Contact: v10@cbcgdf.org; +8617319454776

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