Here's something I never thought I'd read at NRO:
John, while I generally share your sentiments on Iraq, I'm afraid Ramesh is right that even if we don't use a drop of oil, it matters a lot to us if Europe and Japan (and China) do. But this is something that can't simply be left to the market to solve -- the solution (making oil economically irrelevant) needs to be accelerated by the government, through much higher gas taxes (preferably offset by eliminating other taxes), nuclear plants powering electric cars, and a Manhattan Project level of commitment to alternative fuel research.
Too important to be left to the market to solve? Raising taxes to effect a social policy engineering goal? A Manhattan Project level of commitment to alternative fuel research? Fascinating. The Government will save us! (But at what cost?) I guess we might as well get on the Hillary! 2008 bandwagon now to avoid the rush, or should that be the Rush?
Whatever her other faults, I'd like to publicly thank Ayn Rand for making this kind of thinking anathema to me. Now, I know that the folks at NRO aren't exactly fans of Ayn Rand or doctrinaire libertarianism, heck, neither am I, but gee whiz. When did they adopt this left wing, big government is the answer nonsense to achieve a strategic goal of energy independence? And yes, I mean they since there hasn't been any criticism that I've seen of this comment in the Corner.
I saw that quip about raising gas taxes (ostensibly to fund alternative fuel research) and it caught my attention too. Power companies and energy "suppliers" are performing research on their own, as they know that oil won't last forever and they need to be ahead of the game.
Unfortunately, Pres. Bush continues to pound the podium for big government solutions to problems. I haven't heard too much about the Hydrogen Fuel project lately.
Posted by: MarcV at 12:54 PMBy raising taxes on fuel the US could lower its excessive CO2 exhausts while at the same time being able to provide funding for research in alternative fuel. The oil companies are so blinded by quarterly earnings reports that they can't see around the corner.
The US has to do its part, it can't leave it to the rest of the world alone.
Posted by: Joe at 09:41 AM