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Posts Tagged ‘Gasoline’
September 4th, 2012 at 2:30 pm
In Other News… Gas Price Reaches Record High on Labor Day
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While the mainstream media appears more concerned with Clint Eastwood’s improv skit or Mitt Romney’s income tax returns, gasoline prices reached an all-time Labor Day high this week.  Back in 2008, of course, Barack Obama thundered that high gas prices demonstrated, “Washington’s failure to lead on energy,” with the consequence of, “turning the middle-class squeeze into a devastating vise-grip for millions of Americans.”   Today, in contrast, Obama accuses critics of his energy policy of “playing politics.”  Funny how four years of failed energy policy and Solyndra boondoggles changed his tune.

May 17th, 2011 at 4:40 pm
CFIF to U.S. Senate: Reject New Taxes Targeting Domestic Energy Producers
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As the Senate debates proposed tax rules that would unfairly and discriminatorily target domestic oil and gas producers, the Center for Individual Freedom on behalf of its 300,000 supporters and activists across the United States today formally urged all Senators to vote “NO” on S. 940.   Addressing that counterproductive proposed legislation, Grant Aldonas (former Under Secretary of Commerce for International Trade) and Pamela Olson (former Assistant Treasury Secretary for Tax Policy) warned of its likely destructive consequences in a Washington Examiner opinion piece today.   Here is one particularly relevant excerpt from their commentary:

Rather than offering serious ideas about how to tackle entitlements, cut wasteful spending or reform the tax code, proponents of raising the oil companies’ taxes have seized on the notion that American energy producers benefit from billions of dollars in alleged tax subsidies.

[The] single most damaging thing the proposal does is mortgage our energy future to the state-owned energy giants that now dominate global energy markets. The U.S. economy runs on oil, but we produce only 40 percent of what we consume, meaning our economy and standard of living depend heavily on our access to foreign oil and gas resources.

Reid’s plan works just fine if you are comfortable having America’s energy future decided in Beijing, Moscow, or Tehran. Not so much if you think we should be deciding our own destiny.

Any proposal that would enhance the competitiveness of foreign government-owned oil giants at the U.S. companies’ expense and lead to greater volatility in oil markets and rising prices for U.S. consumers qualifies as a damaging unintended consequence.”  (Emphasis added.)

To read this excellent commentary in full, please click here.

CFIF also urges you to contact your Senators (contact information for your Senators available here) and urge them to vote “NO” on S. 940.

March 11th, 2011 at 12:22 pm
Soaring Gas Prices Inspire Republicans to Invest, Democrats to Spend

As if we needed another issue to highlight the differences between conservatives and liberals, the skyrocketing price of gasoline is showing each side’s true colors.

Fox News reports that House Speaker John Boehner (R-OH) wants to put forward several ‘bite-sized’ bills to expand domestic energy production through increased oil drilling, easier permitting, and promoting nuclear power plant construction.  (The piecemeal legislation is also intended to be a jab at Democrats’ penchant for ‘comprehensive’ legislative fixes.)

Liberals like Ed Markey (D-MA) want to tap into the Strategic Petroleum Reserve to drop prices by increasing supply.

How brazenly foolish.  As usual, liberals want to blow a savings account instead of increasing their revenue streams.  Shattering the nation’s energy piggy bank isn’t a solution to the problem – it’s a delaying tactic that puts off the hard decisions until later.

The time for stop-gap measures is over.  If liberals continue to show a genetic inability to create sustainable budget and energy policies, conservatives should bypass them and get America back on a sound footing.

February 17th, 2011 at 7:47 pm
Famous Family Farmer Urges Cuts to Ag Subsidies

Along with his status as America’s most famous military historian and classicist, Victor Davis Hanson is also the operator of a family farm in California’s San Joaquin Valley.  In a recent article for RealClearPolitics, VDH speaks from experience about the disastrous state of U.S. agricultural policy:

We need a drastic reset of agricultural policy. The use of prime ag land to grow corn varieties for ethanol biofuel makes no sense. Why divert farmland for fuels when the world’s poor are short of food, and there are millions of un-farmable areas in Alaska and the arid West, as well as off the American coast, that are either not being tapped for more efficient gas and oil or are only partially exploited?

When North Americans do not fully use their own fossil-fuel resources, two very bad things usually follow: 1) someone else in Africa, Asia or Russia is far more likely to harm the environment to provide us oil; 2) precious farmland will be diverted to growing less-efficient biofuels instead of food – and billions worldwide pay the price.

No supporter has ever been able to explain why the advent of massive subsidies over the last half-century coincided with the decline, not the renaissance, of “family farmers.” Nor has anyone offered reasons why cotton, wheat, soy, sugar and corn are directly subsidized, but not, for example, nuts, peaches or carrots.

November 23rd, 2010 at 10:01 pm
The Only Problem with Green Jobs is that they Don’t Exist
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Senik’s Law of Subsidies: Subsidizing any industry into existence requires destroying its more efficient competitors. And that, ladies and gentlemen, is the story of green jobs.

Luckily, the Obama Administration hasn’t been able to get its hands on the noose with which it intends to strangle the energy industry (I’m sorry … the industry that produces energy that actually works): that would be cap and trade. Thus, it’s had to settle for the silver medal of plowing money into “green jobs” that can’t balance the books without a chunk of your paycheck to stem the tide of red ink. The problem, of course, is that since conventional fuel sources like coal and petroleum are still the most feasible energy sources, the government is underwriting jobs that serve no discernible demand in the consumer market. Consider this passage from a story in today’s Washington Post:

With nearly 15 million Americans out of work and the unemployment rate hovering above 9 percent for 18 consecutive months, policymakers desperate to stoke job creation have bet heavily on green energy. The Obama administration channeled more than $90 billion from the $814 billion economic stimulus bill into clean energy technology, confident that the investment would grow into the economy’s next big thing.

What could go wrong? After all, if the administration is “confident”, there’s no reason to doubt, right? The Obama White House is know for nothing if not its clairvoyance (we’ll leave aside the question of why the “next big thing” would require subsidies). Oh, Mr. President, we hate to interrupt your dance with delusion, but reality would like to cut in:

The industry’s growth has been undercut by the simple economic fact that fossil fuels remain cheaper than renewables. Both Obama administration officials and green energy executives say that the business needs not just government incentives, but also rules and regulations that force people and business to turn to renewable energy.

Without government mandates dictating how much renewable energy utilities must use to generate electricity, or placing a price on the polluting carbon emitted by fossil fuels, they say, green energy cannot begin to reach its job creation potential.

Forget Afghanistan. Energy policy is the administration’s real parallel to Vietnam. We must destroy our energy sources in order to save them.