Domestic production has gone up in the last few years, for the first time in a long time, mostly due to Bush-enacted policies.<quoted text>
I believe the current administration has actually cut US production of oil and has also stopped all off shore exploration for future wells. You want prices down, and then we need to start drilling. Granted prices won't drop significantly overnight, but in 5 years we would see a dramatic reduction. If we only had started these 5 years ago when the prices went up we wouldn't be talking about $4.00 gas.
Albemarle Businesses Propose Cheaper Alternative to Gasoline - NBC29 WVIR Charlottesville, VA New...
There are 25 comments on the NBC29 Charlottesville story from Aug 27, 2012, titled Albemarle Businesses Propose Cheaper Alternative to Gasoline - NBC29 WVIR Charlottesville, VA New.... In it, NBC29 Charlottesville reports that:Some businesses in Albemarle County are hoping to fuel their vehicles with cheap alternative to gasoline, but it would require community support.
Join the discussion below, or Read more at NBC29 Charlottesville.
#22 Aug 27, 2012
#23 Aug 27, 2012
Not a single refinery has been built to add to petro chemical production in the last 30 years, why?, they don't need them. Think about that.
#24 Aug 27, 2012
Also, the USA is a net exporter of gasoline, think about that. There are refineries that don't even operate that could. I wonder what an increased supply would do to the price of gas...
#25 Aug 27, 2012
"they don't receive a dime in government subsidies in any form" I guess it depends on what you call a subsidy. Any corporation can write off "research and development" and not pay taxes on the funds. That is pro-business and pro-innovation, we are after all in favor of the free enterprise system in this country. Development of natural resources like oil has many risks as BP found out with the Gulf oil spill and their 20 billion dollar recovery fund. The public policy of this country is to support energy development in many forms because it is an integral part of our prosperity. Depressing energy development leads to some serious consequences like gas lines in the Carter years and high gas prices now that are hurting the recovery. I suppose a tax deduction for a home mortgage could be viewed as a subsidy too but that is public policy as well. The idea that owning a home is an American dream and BTW is good for the economy won out a long time ago.
I favor the use of natural gas for power generation and use in cars and trucks because it is welcome competition to traditional energy suppliers and would make them work harder for their profits. There is nothing inherently wrong with high profits or companies taking risks that are supported by government in the form of lower taxes for all companies in the US that do research and development. I say this because we are in global competition and need to stay ahead of other countries who have a far better business tax structure or no taxes at all for business operation.
I think your notion is good and principled but leaves out many important factors.
#26 Aug 27, 2012
Subsidies in form of tax breaks are subsidies no matter how you paint them. Most of Obama’s stimulus was tax breaks. The formation OPEC and the oil embargo was what caused serious gas lines; or do you not remember the foreign oil exchange? Actually, higher gas prices may lead to greater economic prosperity because it makes outsourcing more expensive, returning entry level manufacturing jobs to the USA and expanding the tax base. Of course, our policy has nothing to do with the high price of gas now, it is worldwide demand. The USA is a net exporter of gasoline and the refineries don’t operate at or near 100% capacity. And if a write off on a portion of the interest they paid was equivalent I would agree, but since they’re completely dissimilar, I won’t. Nobody has a problem with corporations maximizing profits, but not at the tax payer expense.
I too, am all for natural gas for now, but I still believe we're going have to find an alternative. I like modular nuclear, too. I'm particularly excited about this:
This could lead to energy independence if the technology doesn't get bought and stashed, like the EV1's battery technology. That set us back 20 years from energy independence, which is a matter of national security.
Lower the corporate tax rate, close the loopholes, and end subsidies.
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