Where Your Dreams Become Reality
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Subject: RE: Why doesn't Obama release all oil from the strategic oil reserves to reduce gas prices, long-term?
I actually agree. It would capture black market revenue and break the Mexican cartels. A consumption-oriented tax in general wouldn't be a bad way to go, but not an added VAT.
We have plenty of natural gas and shale oil that is economically viable at $100/barrel, and we could put millions of people to work in the very near future tapping it while we wait for other sources to become viable. Fissionable thorium would be great too but would require a massive subsidy to become a reality within ten years, which is fine. Frankly, I believe it makes the most sense to produce and use energy locally. That is, solar makes sense in the Southwest, coal in the East, nat gas, oil, and coal in the mountain states and Texas, etc.
Right now, we dig up coal, put it on a train to Seattle, and ship it to China, who smelts it, sends it up in plumes that blow across the Pacific, dumping mercury all over our crops. Makes sense. As for the SPR, I wouldn't be at all surprised to see Obama tap it at just the right time. It's an election year after all.
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