Probably Christmas. I say this due to the fact that there is a lot of travel by car, air and train that may not otherwise happen. Many people make countless trips to malls to buy gifts that many recipients drive back to the mall to return, and we cook large feasts that leave a lot of thrown out left overs.
I agree that Christmas is the worst, and would add that wrapping paper is a huge problem. Not only is it excess paper waste, but the inks and dyes used to decorate the paper are chemicals Many people burn the wrapping paper which releases these chemicals into the atmosphere, otherwise it is thrown out and the chemicals leach into the ground. The amount of cards sent during this time is also enormous, causing even more paper waste. Reusing wrapping paper, gift bags, and wrapping in plain paper or recycled paper is a much better option for the environment.
The day after Thanksgiving may also top the list. Many store parking lots capacities, especially malls, are based off the busiest shopping day of the year-Black Friday. These large asphalt parking lots are most often not filled to capacity at other times in the year contributing to the heat island effect, polluted runoff, and underutilized development. It is also important to look at the ‘holiday’ itself which is centered around the consumer and scheduled right before x-mas.
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