Capitol Hill Blue Forums Political Issues Finance, the economy & Economics House passes bill to sue OPEC over oil prices

By the way, here is a way to bring down oil and food prices.

1. Renew our nuclear power industry. Put projects on a fast track for approval.

2. Eliminate the corporate income tax.

3. Eliminate subsidies to corporate entities.

4. Get back to opening new oil fields in the US, our coastal waters, and other accessable areas.

5. Commit to a return to sound money and the elimination of the Federal Reserve within 3 years.

6. Commit to eliminating government deficits by CUTTING SPENDING.

7. Commit to getting out of Iraq and Afghanistan and reducing our force projection footprint within 7 years.

8. Re-orient the Defense Department to a robust defense of America while rejecting the interventionist policy of empire.

That would be a start.:-)
Yours,
Issodhos

Oh yeah, that would be a start of something. I am looking for the word.....on the tip of my tongue.....


wait



wait


wait


Now I have it.



Disastrous depressions, widespread riots and total disruption.

Wait, thats more than a word.

Would you care to explain?;-)
Yours,
Issodhos

How original; blame Bush first:

OK, Harv3. I'll bite, tell us how Bush's War hasn't significantly contributed to the rise in petroleum prices.

Harv3, I have to second that bite. Pray tell...how is Bush's war and foreign policies not related to the oil issues we have today?

This is an excellent list.

I'd modify it in a few ways, to enhance our future energy independence and security:

1. Nuclear Power - Unfortunately we still don't have a viable plan for nuclear waste - make that part of the 'fast track' too. I've heard many people suggest that new oil fields and nuclear power takes at least 10 years to come online - we need something sooner. Although it's not the complete answer, we also need a 'faster track' to wind, solar and bio. T Boone Pickens, for example, plans to have a new 400MW wind farm up in 18 months. We need more forward thinkers like that.

4. New oil fields? Sure... but instead of 'oil depletion allowance' subsidies, they should be 'oil depletion reinvestment plans' - as each barrel of oil depletes the oil energy asset, a portion should be earmarked for research and development of renewables... in fact since energy independence is seen as a security issue by nearly everyone, the government could match the corporate investment dollar-for-dollar into promising technology.

The oil earmark isn't a tax, because the corporation will still own the result and profit from it; the government matching funds isn't a subsidy because everyone benefits from energy independence and ultimately will also profit from it financially. What do you think of this concept? Is it reasonable? Is it practical?

5. I don't know enough about monetary policy to know if it's practical to do that within three years or what likely effect it might have, but I'll go with your recommendation - it needs to happen sometime, and the sooner the better.


A good start. What chance do you think we have of going in that direction?

And, what do you think of my suggestions? Any part of them you could agree with, or modifications that would make them better?

The legislative bodies of Latvia and Estonia have just enacted bills that authorize their attorneys general to sue General Motors, Ford, Chrysler, John Deere, Cummins, Caterpillar, etc., for manufacturing internal combustion engines instead of low pollutant hybrid and electric engines, thus causing massive amounts of pollution, acid rain, dangerously reduced oil reserves and horrific gasoline and other petroleum products prices, all of which threaten the development of their newly freed nations and the health and welfare of their citizens.

Good move, Congress. You have created yet another wonderful American export!!!


(no citation because I made it up, but I hope to hell they actually do it! this hypocrisy (oooh, it's OPEC's fault!) in the pursuit of votes is heinous)

I have no idea how this relates to my post. Do you?
Yours,
Issodhos