The Federal Reserve has started raising interest rates again! Will the carbon neutrality goal be relaxed under high oil prices?

Due to the impact of the Russia-Ukraine conflict and the global pandemic of the new coronavirus epidemic, the U.S. economy continues to suffer heavy losses. On June 16, 2022, the Federal Reserve announced that it would start raising interest rates again. This time the rate increase was the largest in 28 years. The main purpose of the Federal Reserve's policy is to curb the rise in oil prices. Oil prices have been showing an increasing trend in 2021 and 2022. High oil prices have brought pressure on many people’s lives. Many environmentalists are worried about speculation that the goal of carbon neutrality will be loosened under high oil prices. However, the editor believes that this will happen. The possibility of this situation is relatively low.

Oil contains a large amount of carbon. When a large amount of oil is burned, a large amount of carbon dioxide will be produced, and carbon dioxide will cause global warming. Since humans began to use oil as the main energy source, it has had a very bad impact on the global ecological environment. Excessive emission of carbon dioxide leads to the greenhouse effect of the earth, the earth's temperature rises, and the ice in Antarctica even melts. This seriously affects the survival of many animals and plants, and ultimately affects the survival of human beings. Therefore, many countries have proposed the concept of carbon neutrality.

my country’s carbon neutrality goal is to be achieved before 2060, while the carbon peak goal is to be achieved before 2030. However, the sudden increase in oil prices in the past two years has reduced the use of oil. Many people are worried that the carbon peak target will not be reached in 2030, and carbon neutrality will not be achieved in 2060. However, the editor believes that the country will definitely be committed to regulation. Oil prices will strive to achieve carbon peak before 2030, and the goal of carbon neutrality will not be relaxed as a result.

Oil is mainly consumed in the automotive field, but now in the automotive field, new energy vehicles have become a new direction for future automotive development. New energy vehicles have the advantages of energy saving and environmental protection. Many automobile manufacturers are also committed to developing new energy sources. The sales of cars continue to rise, which also provides a great help in slowing down the rise in oil prices, so the possibility of high oil prices affecting the realization of the carbon neutrality goal will also be reduced.