"You are leaving out the tremendous effect this would have on one of our largest if not the largest industry of manufacturing jobs."
Which industry is THAT?
"The effects would be horrendous."
Wrong. A phased-in approach could produce VERY BENEFICIAL EFFECTS. You are FORGETTING THAT 100% OF THE LEVY WOULD BE REBATED DIRECTLY INTO THE HANDS OF CONSUMERS, and boost the economy even more then it would be slowed by higher gasoline costs. Our economic sensitivity to gasoline costs is MUCH LOWER now then it was in the 'seventies... but the economic bang from lowering INCOME TAX RATES is still very big.
Meanwhile, as to oil use, consumers would make the logical choices and the economy would become more energy efficient.
"I think the better solution is to proceed with flex fuel engines"
so, you are a big fan of GOVERNMENT SUBSIDIES, and the government following some sort of National Industrial Policy, and INTERFERING in the market economy, eh?
Excuse me if I don't share your enthusiasm for government fumbling and PORK BARREL SUBSIDIES FOR FAT CATS. :(
"and open up more domestic drilling"
OK by me. (I'm sure every drop of recoverable oil --- currently 'in the bank' on public lands, will eventually be tapped when the price goes high enough)... but that's just like pissing into the ocean as far as US energy needs though. The US reached it's Hulbert's Peak (for the lower 48 States) in 1970... just a few years later when Alaska is thrown into the mix... and production has been falling ever since.
"whilst developing the fuel of the future"
The free market is more then capable of handling that... all they need is the economic incentive.
"As to the sea lanes, we will always be guarding them whether we import oil or not."
'Always' is a VERY LONG time. Never-the-less, the costs are REAL, and when you add the costs of defending our long oil import pipeline out of the Middle East into our oil costs... we are ALREADY PAYING $4 to $5 a gallon for gasoline.
And, I'm of the mind that America (the American taxpayers) should only pay for what is cost-effective, and what is in our own interests --- not something that mostly benefits free-loaders in the rest of the world.
Uncle Sammy should NOT be Uncle Sucker! |
