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Re: Remember when..........
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Originally Posted by TSGracchus
There is indeed one way that the president, if he has the cooperation of Congress, can affect the price of oil: he can work to lower demand. The most immediate way to do that is with improved fuel-economy standards and subsidies and tax breaks for other ways to improve efficiency. Somewhat more long-term is the encouragement of alternative energy. There isn't much that can be done about the supply of oil, but as the demand drops so will the price.
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Actually there is something that can be done about supply, instead of pumping all the in-kind royalties the government receives from gulf oil producers into the ground, they could bring them to market. Sure that would lower oil company profits, but it would also lower the pump price of gas.
No legislation needed, just a simple presidential order............
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“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith , The Wealth of Nations 1776
"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address
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