Thursday, February 02, 2006
"Addicted to Ferin Oil"
This part of the State of the Union (SOTU) was truly assinine. Oil is traded on global energy markets, all you need to know is that oil is black and money is green. If the United States were to buy oil exclusively from Russia or Norway or anywhere other than the Middle East it would have no impact on oil prices. Ultimately that which would have an impact on oil prices is reduced consumption. Drastically reduced. You can address that question either by focusing on increasing other energy supplies or reducing demand for oil consumption. However, the logical favorite for increasing supply, Nuclear Energy, is, well, radioactive. Discouraging consumption of oil through a Gas Tax, is even less likely. Although, this would be a fairly sensible tax.