p.s. As it contributes to/drives climate change, we might as well include storm damage and such with the cost of oil.
https://en.wikipedia.org/wiki/Opposition_to_the_Iraq_War#Off...
And thus, the first foreign country for POTUS DJT to visit was Saudi Arabia.
1991 was fought over the oil, 2003 was fought over ideology and wishful thinking.
All gas and oil has fugitive C02 issues. Look what happened with that gas storage well in California which had months long leaks. Were the owners required to offset the extra CO2? Or the gulf oil leaks which have been continuously flowing since the sixties? Or tar sands?
Nobody budgets the remediation cost into the unit cost of the energy.
https://youarenotsosmart.com/2011/03/25/the-sunk-cost-fallac...
First, oil-based energy doesn't compete with solar to a large extent. That will change as EVs get more popular, but outside of islands like Hawaii, oil isn't used much for electricity generation (where solar competes).
Second, solar is already attractive for most new generation scenarios in many locations, including dispactchable situations where you also need storage. It's getting so cheap that it's starting to compete with existing generation.
http://ieefa.org/ieefa-u-s-solar-plus-storage-is-undermining...