Market-driven Energy Policy

November 21, 2007 at 9:51 pm | Posted in Politics | Leave a comment

Republicans are more in favor of market-driven approaches to problems such as high oil prices. Well, this article shows the what happens when they get their wish. This administration may accuse their opponents of sacrificing national security for “quaint notions of democracy”, but I’d rather do that than sacrifice national security by sending money to Saudi Arabia, Iran, and Russia.

Think of $96 as $40 oil which is about what it cost three years ago plus a tax of about 140%. Had any public official dared to propose such a steep tax, he or she would have been run out of office. But its revenues would have gone to fund services in the USA. Now much of it goes to foreign governments, with some of it being shared with oil companies, related industries and oil traders — at least those smart or lucky enough to bet on rising prices.

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