A recent study by the Brookings Institution found that if Americans had to choose between oil, gasoline, and diesel, “oil would be the choice.”
And if they could choose between gas and diesel?
“Gasoline would be cheaper, at least in the short term,” said Brookings senior fellow Peter W. Singer, who authored the report.
“But it would be a mistake to underestimate the potential cost of investing in new technologies to reduce carbon emissions.”
Singer’s analysis came in the midst of the first full year of Trump’s administration, which has been accused of moving too slowly on climate action.
Trump has repeatedly attacked the notion of a “carbon tax,” an idea that would impose a tax on carbon emissions from the economy.
In May, Trump promised that he would sign legislation imposing a “solar tax” on fossil fuel exports and, in a second tweet, he vowed to repeal the Paris climate agreement.
Trump also said during his campaign that the U.S. should “cut its energy use by 20% and start making our country great again.”
On Thursday, Trump announced that he has directed the Environmental Protection Agency to draft an executive order to cut carbon emissions by 40% by 2025.
The order will include a ban on coal mining, and Trump said the goal is to “stop the pollution of our atmosphere and water and to help the American people avoid costly, costly disasters.”
“This is going to be a great deal, if we can do it,” Trump said.
“This country’s energy needs to be the biggest engine of economic growth in the world, and this is going at a time when the rest of the world is moving on to greener energy.”