Here's an unpopular idea. Lets tax gas up to 4.00 a gallon. And keep it there, by law.
Why?
Notice how opec has ended(for three months) any limitation on pumping oil?
One of the reasons is at the current prices it is now economical to use and develope alternatives. Yet, the constant possiblility of an oil price collapse is stopping the massive investment needed to develope these alternative sources.
In fact if the US started paying 4.00 for gas we would really lower our consumption. And the money would flow into the US treasury rather than the oil exporters. Then we would have the billions to pay off the debt. And the billions to pay for the medicare drug benefit. And we would significantly hurt the incomes of the oil producers which would encourage them to drill more and open the spigots. Ensuring an end to their power and energy self-reliance(or at least far more self-reliance) in America.
And,yes, we would have an economic downturn intitially. But all the energy alternatives are more job intensive than importing oil. Creating jobs here in America eventually making our economy far stronger.
And 4.00 a gallon gas in the US would still be cheaper than almost any other developed country.
For those who ask how American business could compete world wide if oil suddenly started costing so much more, I say we lead a charge world wide to tax the imports of countries that subsidize exports by subisidizing oil costs in their countries. Like China were gasoline is .25 cents a gallon.
Why?
Notice how opec has ended(for three months) any limitation on pumping oil?
One of the reasons is at the current prices it is now economical to use and develope alternatives. Yet, the constant possiblility of an oil price collapse is stopping the massive investment needed to develope these alternative sources.
In fact if the US started paying 4.00 for gas we would really lower our consumption. And the money would flow into the US treasury rather than the oil exporters. Then we would have the billions to pay off the debt. And the billions to pay for the medicare drug benefit. And we would significantly hurt the incomes of the oil producers which would encourage them to drill more and open the spigots. Ensuring an end to their power and energy self-reliance(or at least far more self-reliance) in America.
And,yes, we would have an economic downturn intitially. But all the energy alternatives are more job intensive than importing oil. Creating jobs here in America eventually making our economy far stronger.
And 4.00 a gallon gas in the US would still be cheaper than almost any other developed country.
For those who ask how American business could compete world wide if oil suddenly started costing so much more, I say we lead a charge world wide to tax the imports of countries that subsidize exports by subisidizing oil costs in their countries. Like China were gasoline is .25 cents a gallon.