What's causing the "pain at the pumps?" Like me, you may have read the oil companies and the Bush Administration's arguments that demand from China and India is responsible. You may have read analysts who suggest that tax abatement on carbon fuel v.s renewables has stymied the latter's competitiveness. On June 6, the Washington Post's David Cho brought up another possibility( DISCLOSURE: Author is member of NewsTrust's staff)
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Posted by Barry Grossheim
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This story is pathetic conspiracy stuff. 90% of the world's oil is controlled by state oil companies. Trying to blame US oil companies for the situation is pathetic. The real vilain is the US congress. Drilling for domestic supplies is prohibited in many offshore and Alaskan sites for no good reason. A constructive move would be to put a tariff on imported oil to boost the incentives for domestic oil. Cap and trade is just a hidden gas tax. A gas tax would be a lot less complicated. Alternative energy, except nuclear, is simply a play toy that will never be an important player on any near term time scale. There is no rational energy policy from the democrats and the Republicans are almost as bad. Another good idea would be to kill the ethanol program - no one thinks this program is other than worthless except for corn farmers and ethanol producers. The writer of this article has to start using some facts and figures and get away from the dreamy wish stuff.
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