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May 17th, 2004, 06:47 PM
#1
Registered User
Would you be willing to pay 50 per barrel for oil?
Here's a plan that has been floated from time to time.
There are technologies such as coal to gas, tar sands oil extraction, bio mass, etc that are available and that could be implemented in just a few years. The catch is that they are only economically feasible if oil is at least 35 per barrel. No one rushes out to do these things when oil is high because they will go bankrupt if oil goes down.
Should we as a nation agree that oil will cost 50 per barrel (because we would make up the difference in taxes if oil goes below 50) if it would allow us energy independence?
There are a lot of economic problems associated with this plan. One would be if oil goes down to say 30 per barrel American businesses would be non competitive. The taxes raised on the difference would somehow have to get back to them.
Or we could make agreements with other countries that would gurantee free trade only with other countries that priced oil at 50 a barrel.
I am not proposing this as a detailed plan. I am wondering how people would feel about paying more for energy if it would lead to independence?
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