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Gas at $6 per gallon? Get ready.
By Jim Wooten
Thursday, June 21, 2007, 08:15 AM
The Atlanta Journal-Constitution
Get ready for Congress to solve the energy problem just as it has previously solved the illegal immigration problem. A bill being debated in the Senate this week is described by some of its supporters as “far from perfect” but “a good start.”
A good start, yes, to higher gas and food prices, to new taxes and to forcing consumers to pay for high-cost “renewable” energy sources - solar and wind, for example - that are to energy independence what bicycle trails are to traffic-congestion relief.
The Senate bill, grandiosely and falsely dubbed the Renewable Fuels, Consumer Protection and Energy Efficiency Act of 2007, should come with a section prohibiting price gouging - by Congress. The legislation “could result in significantly higher prices for gasoline consumers,” ...
“A review of S. 1419, including the just-completed section on tax changes, reveals that the bill could increase the price of regular unleaded gasoline from $3.14 per gallon (the early May national average) to $6.40 in 2016 - a 104 percent increase,”...
“Gas consumers can expect to pay between $3.16 and $3.79 a gallon for gas in 2008 after adding in the estimated impact of the Senate energy bill. By 2016, all states can expect gas prices in excess of $6. As a result of S. 1419, consumers would spend an average of $1445 more per year on gasoline in 2016 than in 2008,”...
With the the concurrence of the ranking Republican on the Senate Finance Committee, Charles Grassley of Iowa, and others (Gordon Smith of Oregon, Olympia Snowe of Maine and Pat Roberts of Kansas, all Republican), the committee is proposing $29 billion in new taxes on oil companies. The tax is to subsidize wind and solar power, hybrid vehicles and biofuel. The bill calls for a sharp increase in the use “renewables,” including heavily-subsidized ethanol, up from 8.5 billion gallons next year to 36 billion gallons by 2022. And it requires, too, that utilities would be required to buy at least 15 percent of their energy from wind, solar and other ““renewable” sources.
Ethanol requires more energy to produce than it generates as fuel, to say nothing of the water required for irrigation in areas like drought-stricken South Georgia. It’s subsidized by taxpayers with a 51-cents per gallon tax credit, and it’’s subsidized again at the pump with a 54-cents-a-gallon tariff on imported ethanol. Go figure.
The provision, too, that would “protect” consumers from “price gouging” is an invitation to price controls. And that’s an invitation to economic disaster. This comes, incidentally, despite the fact that no reputable studies establish that price gouging has occurred.
Borders were made secure and the illegal immigration problem was solved in 1986. And now the energy problem is about to be solved, too.
Gas at $6 per gallon? Get ready.
Talk about spin. Last I checked the Democrats control the Senate, yet this "Bill" is being blamed on the Republicans. I see no democrats name mentioned AT all, in fact I see no mention of the Democrats AT all.
I can't say it enough, Congress is a mess, politics in general is a mess. How is this going to help the American people? How does this help the economy? Higher gas prices mean higher hauling costs, which in turn means high prices for food stuffs as well as everything else we buy.
Yeah, fix the energy problem like you did the illegal immigration problem.
Meredith Vieira Ponders: 'Would We Be Better Off If Gas Prices Were Even Higher?'
Posted by Geoffrey Dickens on June 21, 2007 - 12:23.
NBC Today co-host Meredith Vieira opened her Today at the Pump segment cheering the recent decrease in gas prices as "sweet relief" but then wondered: "Would we be better off...if gas prices were even higher?" On this morning's Today show, Vieira invited on Chevrons CEO, David OReilly, to harass him about getting America off its "dependence" on oil and cited critics of Chevrons allocation of profits to find alternative sources of energy as merely, "symbolic."
http://newsbusters.org/node/13637
Easy for her, she takes the train to work.
Umm I figure we will be paying $6/gal or more for gas within 5-10 years anyway.
In that time or less we (the world) will be wanting more oil than is being pumped from the ground....
We can pay now or later, but the late payment is costlier and more painful.
or we can start drilling for our own oil and build/expand our refineries
5 years worth of oil in there, tops.
or we can start drilling for our own oil and build/expand our refineries
to bad the enviro wackos block those attempts
There are more huge oil reserves other then Alaska
and there is nuclear power
I guess we will have breeder reactors in our cars ? Darn! how would you lkie to sit astraddle of a reactor on your Harley ?
I can't say it enough, Congress is a mess, politics in general is a mess. How is this going to help the American people? How does this help the economy? Higher gas prices mean higher hauling costs, which in turn means high prices for food stuffs as well as everything else we buy.
Yeah, fix the energy problem like you did the illegal immigration problem.
I guess you are right like that enviro whacko Jeb Bush ?
I don't think all the estimated oil reserves of the USA would run us 10 years at current consumption rates.
