Gasoline and natural gas have hit record-low prices in the last few months. It was hailed as overwhelmingly good news for consumers and the economy.
But the price you pay at the pump may not be the real cost.
“So the real cost of that gallon of gas is the price you pay at the pump plus about four dollars,” says Drew Shindell, a professor of climate change at Duke University’s Nicholas School of the Environment.
Shindell wrote a paper that calculates the “social cost” of energy, or the total cost to society.