Gosh, didn’t we say the same thing about shale and coal circa 1973?
Strangely, when the government deregulated the price of oil, and even had a few tax credits for exploration, we suddenly had lots of the stuff.
This proves the point — that when the market hits a certain point, alternatives tend to make themselves available. Lefties know that, since they want to make gasoline $6 per gallon to prompt such alternatives. However, they fail to understand that in their scheme, the “extra” $3 would go to the government instead of the producers of energy.
However, they fail to understand that in their scheme, the “extra” $3 would go to the government instead of the producers of energy.
Correct. If market had really driven to $6/gal, that would mean private investment for alternatives or different ways to drive the price down and gain market share and profit margin. This may involve finding different ways to refine, exploration for another cheap mother lode, or discovering different types of fuel supplies all together (like coal to liquid fuel conversion).
Markets drive innovation. Taxation hinders progress and makes people mad.
It appears that pushing the negative side of just about everything American is the latest theme from our congress. It would be nice if just for ounce they would say this oil from coal thing will work. Then put up the money for a pilot plant, give it a number one priority and get the job done. Right now nothing gets pushed HARD, nothing gets done but whining about nothing getting done to solve anything. Our country put up an aircraft plant in 90 days at the start of WE2, because it was necessary to save our collective butts. What the he— happened to us?