A Windfall Profits Tax on Oil Companies to Finance R&D in Non-Fossil Based Energy
The Intergovernmental Panel on Climate Change reports that global warming is "unequivocal" and that human activity is the main driver. The United States, with five percent of the world’s population, contributes about a quarter of greenhouse gas emissions, far more than other country. But you can forget a carbon tax any time soon. Dems don’t have the intestinal fortitude to propose it.
That leaves the only plausible policy right now the development of non-fossil based fuels. Yet there’s no money in the public kitty for this or much else. Bush’s new budget allows only a pittance for new research in solar, biomass, wind, and other alternatives.
So where to get the money? From the revenues we’ve been handing oil companies. Exxon Mobil just reported an annual profit of $39.5 billion for 2006, its second consecutive record and the largest profit reported by any American company in history. Other oil companies are also swimming in cash. Oil prices are rebounding now that cold weather has returned to most of the nation.
The Dems should propose a temporary windfall profits tax on oil companies (temporary, that is, until the oil company’s current oil earnings boom falls back to a normal range), the proceeds of which go into a fund to finance R&D in non-fossil based fuels. Market fundamentalists who holler that oil companies should be allowed to reinvest their profits in new oil exploration aren’t paying attention to the environmental costs. But the windfall tax should be designed so that, to the extent oil companies do wish to invest in non-fossil based fuels, such profits are exempt.
That leaves the only plausible policy right now the development of non-fossil based fuels. Yet there’s no money in the public kitty for this or much else. Bush’s new budget allows only a pittance for new research in solar, biomass, wind, and other alternatives.
So where to get the money? From the revenues we’ve been handing oil companies. Exxon Mobil just reported an annual profit of $39.5 billion for 2006, its second consecutive record and the largest profit reported by any American company in history. Other oil companies are also swimming in cash. Oil prices are rebounding now that cold weather has returned to most of the nation.
The Dems should propose a temporary windfall profits tax on oil companies (temporary, that is, until the oil company’s current oil earnings boom falls back to a normal range), the proceeds of which go into a fund to finance R&D in non-fossil based fuels. Market fundamentalists who holler that oil companies should be allowed to reinvest their profits in new oil exploration aren’t paying attention to the environmental costs. But the windfall tax should be designed so that, to the extent oil companies do wish to invest in non-fossil based fuels, such profits are exempt.
posted by Robert Reich | 9:18 PM
36 Comments:
No reason to be so defeatist about the likelihood of a carbon tax. A carbon tax is the best option we have to reduce global warming emissions and our dependence of foreign oil. The good news is that a carbon tax is politically feasible when combined with progressive tax-shifting; the carbon tax revenues should be used to reduce payroll taxes (if a federal carbon tax) or sales taxes (if a state carbon tax). Polls indicate that Americans are open to a carbon tax. For details, see our website at www.carbontax.org.
Aye, but then do we, as is our practice, hand the resulting research back to the oil boys free of charge?
For all this, I prefer to see a carbon extraction/importation tax. You dig it up or you bring it in, you pay, then your ultimate consumer gets a perfect price signal. Innovation follows.
Rule one: Don't call it a tax.
Why not call it the "Oil Subsidy Reimbursement Act" and sell it as a requirement that they pay back to the subsidies they have gotten over the years.
Rule two: Put them on defense.
Haul them in front of congress and have them explain why they should be recipients of corporate welfare. Put them on the record.
MANDATORY RENEWABLE ENERGY – THE ENERGY EVOLUTION –R11
In order to insure energy and economic independence as well as better economic growth without being blackmailed by foreign countries, our country, the United States of America’s Utilization of Energy sources must change.
"Energy drives our entire economy." We must protect it. "Let's face it, without energy the whole economy and economic society we have set up would come to a halt. So you want to have control over such an important resource that you need for your society and your economy." The American way of life is not negotiable.
Our continued dependence on fossil fuels could and will lead to catastrophic consequences.
The federal, state and local government should implement a mandatory renewable energy installation program for residential and commercial property on new construction and remodeling projects with the use of energy efficient material, mechanical systems, appliances, lighting, etc. The source of energy must by renewable energy such as Solar-Photovoltaic, Geothermal, Wind, Biofuels, Ocean-Tidal, etc. including utilizing water from lakes, rivers and oceans to circulate in cooling towers to produce air conditioning and the utilization of proper landscaping to reduce energy consumption. (Sales tax on renewable energy products should be reduced or eliminated)
The implementation of mandatory renewable energy could be done on a gradual scale over the next 10 years. At the end of the 10 year period all construction and energy use in the structures throughout the United States must be 100% powered by renewable energy. (This can be done by amending building code)
In addition, the governments must impose laws, rules and regulations whereby the utility companies must comply with a fair “NET METERING” (the buying of excess generation from the consumer at market price), including the promotion of research and production of “renewable energy technology” with various long term incentives and grants. The various foundations in existence should be used to contribute to this cause.
A mandatory time table should also be established for the automobile industry to gradually produce an automobile powered by renewable energy. The American automobile industry is surely capable of accomplishing this task. As an inducement to buy hybrid automobiles (sales tax should be reduced or eliminated on American manufactured automobiles).
This is a way to expedite our energy independence and economic growth. (This will also create a substantial amount of new jobs). It will take maximum effort and a relentless pursuit of the private, commercial and industrial government sectors commitment to renewable energy – energy generation (wind, solar, hydro, biofuels, geothermal, energy storage (fuel cells, advance batteries), energy infrastructure (management, transmission) and energy efficiency (lighting, sensors, automation, conservation) (rainwater harvesting, water conservation) (energy and natural resources conservation) in order to achieve our energy independence.
"To succeed, you have to believe in something with such a passion that it becomes a reality."
Jay Draiman, Energy Consultant
Northridge, CA. 91325
Feb. 5, 2007
P.S. I have a very deep belief in America's capabilities. Within the next 10 years we can accomplish our energy independence, if we as a nation truly set our goals to accomplish this.
I happen to believe that we can do it. In another crisis--the one in 1942--President Franklin D. Roosevelt said this country would build 60,000 [50,000] military aircraft. By 1943, production in that program had reached 125,000 aircraft annually. They did it then. We can do it now.
The American people resilience and determination to retain the way of life is unconquerable and we as a nation will succeed in this endeavor of Energy Independence.
Solar energy is the source of all energy on the earth (excepting volcanic geothermal). Wind, wave and fossil fuels all get their energy from the sun. Fossil fuels are only a battery which will eventually run out. The sooner we can exploit all forms of Solar energy (cost effectively or not against dubiously cheap FFs) the better off we will all be. If the battery runs out first, the survivors will all be living like in the 18th century again.
Every new home built should come with a solar package. A 1.5 kW per bedroom is a good rule of thumb. The formula 1.5 X's 5 hrs per day X's 30 days will produce about 225 kWh per bedroom monthly. This peak production period will offset 17 to 2
4 cents per kWh with a potential of $160 per month or about $60,000 over the 30-year mortgage period for a three-bedroom home. It is economically feasible at the current energy price and the interest portion of the loan is deductible. Why not?
Title 24 has been mandated forcing developers to build energy efficient homes. Their bull-headedness put them in that position and now they see that Title 24 works with little added cost. Solar should also be mandated and if the developer designs a home that solar is impossible to do then they should pay an equivalent mitigation fee allowing others to put solar on in place of their negligence. (Installation should be paid “performance based”)
Installation of renewable energy and its performance should be paid to the installer and manufacturer based on "performance based" (that means they are held accountable for the performance of the product - that includes the automobile industry). This will gain the trust and confidence of the end-user to proceed with such a project; it will also prove to the public that it is a viable avenue of energy conservation.
Installing renewable energy system on your home or business increases the value of the property and provides a marketing advantage.
Nations of the world should unite and join together in a cohesive effort to develop and implement MANDATORY RENEWABLE ENERGY for the sake of humankind and future generations.
Jay Draiman
Northridge, CA 91325
Email: renewableenergy2@msn.com
"Windfall Profits Tax"? I'm for it. I'm for anything that will mitigate the coming hominid induced ecological disaster. But there is no turning this Titanic around on a dime. There just isn't.
By 2050 the North American continent will probably have a billion people alone. China? India? It simply staggers the imagination!
What is happening now is like driving down the road at 100 miles and hour, heading right for a brick wall and then deciding to put on the breaks a few feet before impact.
I just don't know what to think or say anymore! the word triage is be completely inadequate for our fate.
Gee, howabout making the windfall tax permanent? Or maybe a little hoochie coochie rain dance, or somthing.
"From the revenues we’ve been handing oil companies. Exxon Mobil just reported an annual profit of $39.5 billion for 2006, its second consecutive record and the largest profit reported by any American company in history."
I'm so tired of this old saw paraded around by the ignorant and the demagogues. What is so scandalous about the oil cos profit? You, and every one else, spew the raw dollar amount as if it meant anything. All it means is Exxon is a damn big co! ExxonMobil made roughly one dime on every dollar of revenue; such paltry sums are hardly fit for any self respecting robber baron! You, mister secretary are far from ignorant in economics, so I guess that leaves you in the other category with most politicians on this issue.
I guess the only true way to get people to do something against their own inveterate ideas is to scare the hell out of them. I am for a tax on this situation for sure. A slow but small regression, is not something that should be overlooked, like our environment. If we don't do something now we will be like Mr. Wile E Coyote, too over the ledge to catch our fall.
I would like to know if Robert Reich buys carbon offset credits? If there is such great concern about the costs of fossil fuels, why not start paying for it? All the money sent to Sierra Club could accomplish a lot more if it bought cleaner, more efficient electric power or school buses. Most people reading this blog can afford to start VOLUNTARILY paying for the full costs of the cars and airplanes and home heating that they use. Why are you waiting for the government -- which has poor track record finding efficient solutions?
Count me out of your social engineering through tax policy. I think the market works just fine. The “windfall” profits earned by energy companies are, by and large, merely reinvested to find and develop more energy resources. But they are no more a windfall than temporary price increases in various industries resulting from other normal changes in demand. Would you, for example, also impose a windfall profit tax on concrete because the price has increased dramatically due to rising demand from China and other developing countries?
The current market conditions for the oil industry are very different from 1979 when President Carter (bravely, I think) decontrolled the domestic oil industry and, in return, Congress enacted a temporary windfall profit tax to recapture some of the profits realized from the quick run up in domestic crude oil prices resulting from decontrol. The tax eventually disappeared, and then was repealed, after the price of domestic crude eventually declined due to market forces cause by deregulation. Today's market is very different. Domestic prices are driven not by the release of artificial domestic price controls, but by increases in real demand world-wide. The profits thus reflect real changes in demand and will eventually produce real increases in supply to meet the demand.
If your goal is to reduce carbon emissions with tax policy, then Congress should increase the gasoline tax by, say, several dollars a gallon to reduce consumption and encourage efficiencies and alternative fuels. Better yet, the President could negotiate a treaty with all the other industrialized countries to require reduction in carbon emissions across-the-board. But, in any event, just like an increase in the gas tax, the enactment of a Btu or oil import tax, or any of the many other energy tax proposals that were considered and rejected during the later half of the 20th century, your windfall profit tax idea will never fly.
P.S. The tax credits enacted as part of the Windfall Profit Tax Act of 1979 to promote alternative fuels (e.g., biomass fuels, shale oil, wood chips, etc.) produced nothing but lost tax revenues.
There should be a carbon tax to curb consumption. The market and not government subsidies should decide other viable non-carbon energy types.
Placing extra taxes on oil companies will just make the situation worse - fuel less reinvestment.
Carbon tax is the best, but it should be offset with a tax cut elsewhere. I advocate the payroll tax, as it falls on low-income workers more heavily.
You are right to dismiss a carbon tax as politically impossible. But there is another price-based solution that is not a tax: the feebate. This mechanism needs to be talked about and seriously considered. See A Feebate for Greenhouse Gases: Better than Either a Cap-and-Trade or a Carbon Tax
Energy Independence begins with Energy efficiency
Updated
MANDATORY RENEWABLE ENERGY – THE ENERGY EVOLUTION –R15
By Jay Draiman, Energy Consultant
In order to insure energy and economic independence as well as better economic growth without being blackmailed by foreign countries, our country, the United States of America’s Utilization of Energy Sources must change.
"Energy drives our entire economy.” We must protect it. "Let's face it, without energy the whole economy and economic society we have set up would come to a halt. So you want to have control over such an important resource that you need for your society and your economy." The American way of life is not negotiable.
Our continued dependence on fossil fuels could and will lead to catastrophic consequences.
The federal, state and local government should implement a mandatory renewable energy installation program for residential and commercial property on new construction and remodeling projects, replacement of appliances, motors, HVAC with the use of energy efficient materials-products, mechanical systems, appliances, lighting, insulation, retrofits etc. The source of energy must be by renewable energy such as Solar-Photovoltaic, Geothermal, Wind, Biofuels, Ocean-Tidal, Hydrogen-Fuel Cell etc. This includes the utilizing of water from lakes, rivers and oceans to circulate in cooling towers to produce air conditioning and the utilization of proper landscaping to reduce energy consumption. (Sales tax on renewable energy products and energy efficiency should be reduced or eliminated)
The implementation of mandatory renewable energy could be done on a gradual scale over the next 10 years. At the end of the 10 year period all construction and energy use in the structures throughout the United States must be 100% powered by renewable energy. (This can be done by amending building code)
In addition, the governments must impose laws, rules and regulations whereby the utility companies must comply with a fair “NET METERING” (the buying of excess generation from the consumer at market price), including the promotion of research and production of “renewable energy technology” with various long term incentives and grants. The various foundations in existence should be used to contribute to this cause.
A mandatory time table should also be established for the automobile industry to gradually produce an automobile powered by renewable energy. The American automobile industry is surely capable of accomplishing this task. As an inducement to buy hybrid automobiles (sales tax should be reduced or eliminated on American manufactured automobiles).
This is a way to expedite our energy independence and economic growth. (This will also create a substantial amount of new jobs). It will take maximum effort and a relentless pursuit of the private, commercial and industrial government sectors’ commitment to renewable energy – energy generation (wind, solar, hydro, biofuels, geothermal, energy storage (fuel cells, advance batteries), energy infrastructure (management, transmission) and energy efficiency (lighting, sensors, automation, conservation) (rainwater harvesting, water conservation) (energy and natural resources conservation) in order to achieve our energy independence.
"To succeed, you have to believe in something with such a passion that it becomes a reality."
Jay Draiman, Energy Consultant
Northridge, CA. 91325
May 31, 2007
P.S. I have a very deep belief in America's capabilities. Within the next 10 years we can accomplish our energy independence, if we as a nation truly set our goals to accomplish this.
I happen to believe that we can do it. In another crisis--the one in 1942--President Franklin D. Roosevelt said this country would build 60,000 [50,000] military aircraft. By 1943, production in that program had reached 125,000 aircraft annually. They did it then. We can do it now.
"the way we produce and use energy must fundamentally change."
The American people resilience and determination to retain the way of life is unconquerable and we as a nation will succeed in this endeavor of Energy Independence.
The Oil Companies should be required to invest a substantial percentage of their profit in renewable energy R&D and implementation. Those who do not will be panelized by the public at large by boy cutting their products.
Solar energy is the source of all energy on the earth (excepting volcanic geothermal). Wind, wave and fossil fuels all get their energy from the sun. Fossil fuels are only a battery which will eventually run out. The sooner we can exploit all forms of Solar energy (cost effectively or not against dubiously cheap FFs) the better off we will all be. If the battery runs out first, the survivors will all be living like in the 18th century again.
Every new home built should come with a solar package. A 1.5 kW per bedroom is a good rule of thumb. The formula 1.5 X's 5 hrs per day X's 30 days will produce about 225 kWh per bedroom monthly. This peak production period will offset 17 to 2
4 cents per kWh with a potential of $160 per month or about $60,000 over the 30-year mortgage period for a three-bedroom home. It is economically feasible at the current energy price and the interest portion of the loan is deductible. Why not?
Title 24 has been mandated forcing developers to build energy efficient homes. Their bull-headedness put them in that position and now they see that Title 24 works with little added cost. Solar should also be mandated and if the developer designs a home that solar is impossible to do then they should pay an equivalent mitigation fee allowing others to put solar on in place of their negligence. (Installation should be paid “performance based”).
Installation of renewable energy and its performance should be paid to the installer and manufacturer based on "performance based" (that means they are held accountable for the performance of the product - that includes the automobile industry). This will gain the trust and confidence of the end-user to proceed with such a project; it will also prove to the public that it is a viable avenue of energy conservation.
Installing a renewable energy system on your home or business increases the value of the property and provides a marketing advantage. It also decreases our trade deficit.
Nations of the world should unite and join together in a cohesive effort to develop and implement MANDATORY RENEWABLE ENERGY for the sake of humankind and future generations.
The head of the U.S. government's renewable energy lab said Monday (Feb. 5) that the federal government is doing "embarrassingly few things" to foster renewable energy, leaving leadership to the states at a time of opportunity to change the nation's energy future. "I see little happening at the federal level. Much more needs to happen." What's needed, he said, is a change of our national mind set. Instead of viewing the hurdles that still face renewable sources and setting national energy goals with those hurdles in mind, we should set ambitious national renewable energy goals and set about overcoming the hurdles to meet them. We have an opportunity, an opportunity we can take advantage of or an opportunity we can squander and let go,"
solar energy - the direct conversion of sunlight with solar cells, either into electricity or hydrogen, faces cost hurdles independent of their intrinsic efficiency. Ways must be found to lower production costs and design better conversion and storage systems.
Disenco Energy of the UK has announced it has reached important
milestones leading to full commercialization, such as the completion of
field trials for its home, micro combined heat and power plant (m-CHP).
The company expects to begin a product roll out in the second quarter of
2008.
Operating at over 90 percent efficiency, the m-CHP will be able to
provide 15 kilowatts of thermal energy (about 50,000 Btu’s) for heat and
hot water and generate 3 kilowatts of electricity. The m-CHP uses a
Stirling engine generator and would be a direct replacement for a home’s
boiler.
Running on piped-in natural gas the unit would create some independence
from the power grid, but still remain connected to the gas supply
network.
Whereas heat is supplied only when the generator is running (or
conversely electricity is generated only when heat is needed) a back-up
battery system and heavily insulated hot water storage tank seem
eventual options for more complete energy independence.
FEDERAL BUILDINGS WITH SOLAR ENERGY – Renewable Energy
All government buildings, Federal, State, County, City etc. should be mandated to be energy efficient and must use renewable energy on all new structures and structures that are been remodeled/upgraded.
"The government should serve as an example to its citizens"
Jay Draiman, Energy Consultant
Northridge, CA 91325
Email: renewableenergy2@msn.com.
Global Warming – Man Made or Natures Cycle R1
By Yehuda Draiman, Energy Analyst
The debate: Is the observed global warming natural or man made?
Global Warming or natural climatic rhythm?
Global Warming Man made or natural cycle?
There are numerous pros and cons as to the cause of Global Warming.
After some study and research I share with you the various opinions.
This consensus in this on-line article represents the views of some researchers and forecasters, but does not necessarily represent the views of all scientists. It was not the intention of this article to discount the presence of a human-induced global warming element or to attempt to claim that such an element is not present. There is a robust, on-going discussion on climate change within the scientific community.
One degree. On a thermometer, it doesn't seem like much at all. But that degree has sparked intense debate among experts who monitor the temperature on Earth.
In a new report issued by a leading group of scientists and meteorologists, research shows the planet has warmed one degree during the last 100 years. That report from the Intergovernmental Panel on Climate Change asserts that Earth will continue to warm between 2 and 10 degrees during the next century.
Those researchers believe that global warming could be boosting the planet's temperature. Global warming is a phenomenon of temperatures rising on Earth. Scientists have said that some human activities cause gases such as carbon dioxide, methane and nitrous oxide to build up in the atmosphere. Those gases trap heat closer to Earth's surface giving the planet a worldwide fever.
Many experts say two chemicals -- carbon dioxide and carbon monoxide -- are most responsible for global warming. Cars, trucks and factories around the world emit those chemicals everyday. Once in the atmosphere, those chemicals act as big reflectors, bouncing back sun rays to the Earth and warming the planet.
But there are scientists, climatologists and weather watchers who believe that the warming trend is not an aberrant threat, but part of a natural cycle of warming and cooling on Earth. "We just haven't been around long enough to know if it's a fact," said CNN weather anchor Orelon Sidney. "The Earth is more than 4 billion years old and humans haven't been around that long. So this could just be a part of cycle."
The scientists who believe the Earth is warming say years of research are needed to determine why.
Dr. Lonnie Thompson, a researcher at the Byrd Polar Research Center located at Ohio State University, is among those attempting to discover the causes of global warming. He spends many months away from his home in search of answers.
Thompson's latest trek to the Andes Mountains showed substantial changes in a glacier.
"The glacier we have been studying has been melting at an unbelievable rate," Thompson said. "Where there was once ice, there is now a lake." Thompson photographed the new lake and glacier to show "obvious changes in our world because of temperature increase," he said. Thompson said a warmer earth could lead to more erratic weather. "If energy in the system -- the heat on the Earth's climate system --increases, then you're going to have more water vapor. More water vapor feeds more storms -- larger hurricanes, maybe larger snowstorms too."
As a meteorology student at the University of Maryland, Antony Chen is among those who would watch for those weather changes. He is part of the next generation of researchers who will have to figure out what's behind the cause of the temperature bump.
Chen says we have to look at the big picture then determine what changes people should make on the local level. "We need to know what's going on in the atmosphere, the magnitude of changes we are making to our climate system," Chen said. "Then we can start coming up with solutions."
Professor Bruce Doddridge is one of Chen's professors and is encouraged by the caliber of young people he's seen entering the earth sciences. "I'm impressed with the variety of smart and intelligent people coming through that can do this work," he said.
Doddridge concedes that there are many potential causes of global warming, but said he believes the new technology could help assess and solve the problem. "The issues are becoming more complicated," Doddridge said, "but I think the tools we have to work with are becoming more sophisticated."
Many experts say two chemicals -- carbon dioxide and carbon monoxide -- are most responsible for global warming. Cars, trucks and factories around the world emit those chemicals everyday. Once in the atmosphere, those chemicals act as big reflectors, bouncing back sun rays to the Earth and warming the planet.
But there are scientists, climatologists and weather watchers who believe that the warming trend is not an aberrant threat, but part of a natural cycle of warming and cooling on Earth. "We just haven't been around long enough to know if it's a fact," said CNN weather anchor Orelon Sidney. "The Earth is more than 4 billion years old and humans haven't been around that long. So this could just be a part of cycle."
The scientists who believe the Earth is warming say years of research are needed to determine why.
Dr. Lonnie Thompson, a researcher at the Byrd Polar Research Center located at Ohio State University, is among those attempting to discover the causes of global warming. He spends many months away from his home in search of answers.
1. The authors of Unstoppable Global Warming - Every 1,500 Years, say that history, ice core studies and stalagmites all agree on a natural cycle at roughly that interval that is superimposed on the longer, stronger ice ages and interglacial phases.
They point as evidence of this natural cycle to the “Climate Optimum” - a period of warmer and wetter weather than the present Earth’s climate, which took place 9,000 years ago to 5,000 years ago, and a cooling event 2,600 years ago.
During the Roman warming period from 200 BC to around AD 600 North Africa and the Sahara were wetter and supported crops. In more recent times they point to the medieval warming of 900 to 1300, when Eric the Red’s descendant’s colonized Greenland and the Little Ice Age of 1300 to 1850 which saw the Norse dairy farmers on Greenland grow short from malnutrition and eventually die out.
Mr. Avery, a former US agriculture official whose celebrated earlier book was Saving the Planet with Pesticides and Plastic: The Environmental Triumph of High Yield Farming suggests that the natural cycle of warming and cooling may come from variations in cosmic rays which have been linked to cloud formation.
This theory was validated in a recent paper in a Royal Society journal by scientists from the Danish National Space Centre who showed that sub-atomic particles - cosmic rays from exploding stars - play a major role in making clouds. During the past century cosmic rays became scarcer as vigorous activity by the sun forced them away. So there was less cloud cover to reflect away sunlight and a warmer world, according to the Danish scientists.
2. Policymakers have been arguing for nearly a decade over what to do about global warming. Noticeably missing from this debate has been any mention of the fact that natural fluctuations in the Earth’s temperature, not Man, are the likely explanation for any recent warming.
Proponents of the global warming theory repeatedly cite a 1.5° F temperature increase over the last 150 years as evidence that man-made CO2 is dangerously heating up the planet and will cause huge flooding, severe storms, disease and a mass exodus of environmental refugees. Based on this, the Clinton Administration and its environmental allies want Congress to ratify a treaty that will hike consumer prices 40 percent and cost the American economy $3.3 trillion over 20 years. But the apocalyptic predictions on which they justify these drastic steps are totally unsubstantiated and ignore some fundamental truths about the Earth's climatic behavior.
The fact is, the planet's temperature is constantly rising and falling. To put the current warming trend in perspective, it's important to understand the Earth's geological behavior.
Over the last 700,000 years, the climate has operated on a relatively predictable schedule of 100,000-year glaciations cycles. Each glaciations cycle is typically characterized by 90,000 years of cooling, an ice age, followed by an abrupt warming period, called an interglacial, which lasts 10,000-12,000 years. The last ice age reached its coolest point 18,000 to 20,000 years ago when the average temperature was 9-12.6° F cooler than present. Earth is currently in a warm interglacial called the Holocene that began 10,700 years ago.
Although precise temperature readings over the entire period of geologic history are not available, enough is known to establish climatic trends. During the Holocene, there have been about seven major warming and cooling trends, some lasting as long as 3000 years, others as short as 650. Most interesting of all, however, is that the temperature variation in many of these periods averaged as much as 1.8° F, .3° F more than the temperature increase of the last 150 years. Furthermore, of the six major temperature variations occurring prior to the current era, three produced temperatures warmer than the present average temperature of 59° F while three produced cooler temperatures.
For example, when the Holocene began as the Earth was coming out of the last Ice Age around 8700 B.C., the average global temperature was about 6° F cooler than it is today. By 7500 B.C., the climate had warmed to 60° F, 1° F warmer than the current average temperature. However, the temperature fell again by nearly 2° F over the next 1,000 years, settling at an average of 1° F cooler than the current climate.
Between 6500 and 3500 B.C., the temperature increased from 58° F to 62° F. This is the warmest the Earth has been during the Holocene, which is why scientists refer to the period as the Holocene Maximum. Since the temperature of the Holocene Maximum is close to what global warming models project for the Earth by 2100, how Mankind faired during the era is instructive. The most striking fact is that it was during this period that the Agricultural Revolution began in the Middle East, laying the foundation for civilization. Yet, Greenhouse theory proponents claim the planet will experience severe environmental distress if the climate is that warm again.
Since the Holocene Maximum, the planet has continued to experience temperature fluctuations. In 900 A.D. the planet's temperature roughly approximated today's temperature. Then, between 900 and 1100 the climate dramatically warmed. Known as the Medieval Warm Period, the temperature rose by more than 1° F to an average of 60° or 61° F, as much as 2° F warmer than today. Again, the temperature during this period is similar to Greenhouse predictions for 2100, a prospect global warming theory proponents insist should be viewed with alarm. But judging by how Europe prospered during this era, there is little to be alarmed about. The warming that occurred between 1000 and 1350 caused the ice in the North Atlantic to retreat and permitted Norsemen to colonize Iceland and Greenland. Back then, Greenland was actually green. Europe emerged from the Dark Ages in a period that was characterized by bountiful harvests and great economic prosperity. So mild was the climate that wine grapes were grown in England and Nova Scotia.
The major climate change that followed the Medieval Warm Period is especially critical as it bears directly on how to assess our current warming period. Between 1200 and 1450, the temperature plunged to 58° F. After briefly warming, the climate continued to dramatically get colder after 1500. By 1650, the temperature hit a low of 57° F. This is regarded as the coldest point in the 10,000-year Holocene geological epoch. That is why the era between 1650 and 1850 is known as the Little Ice Age. It was during this time that mountain glaciers advanced in Switzerland and Scandinavia, forcing the abandonment of farms and villages. Rivers in London, St. Petersburg and Moscow froze over so thoroughly that people held winter fairs on the ice. There were serious crop failures, famines and disease due to the cooler climate. In America, New England had no summer in 1816. It wasn't until 1860 that the temperature sufficiently warmed to cause the glaciers to retreat.
The significance of the Little Ice Age cannot be overestimated. The 1.5° F temperature increase over the last 150 years, so often cited as evidence of man-made warming, most likely represents a return to normal temperatures following a 400-year period of unusually cold weather. Even the United Nation's Intergovernmental Panel on Climate Change (IPCC), the chief proponent of the Kyoto Protocol global warming treaty signed in December 1997, concludes that: "The Little Ice Age came to an end only in the nineteenth century. Thus, some of the global warming since 1850 could be a recovery from the Little Ice Age rather than a direct result of human activities."
Leading climate scientist Dr. Hugh Ellsaesser of the Lawrence Livermore National Laboratory says we may be in for an additional 1.8° F of warming over the next few centuries, regardless of Man's activities. The result would be warmer nighttime and winter temperatures, fewer frosts and longer growing seasons. Since CO2 stimulates plant growth and lessens the need for water, we could also expect more bountiful harvests over the next couple of centuries. This is certainly not bad news to the developing nations of the world struggling to feed their populations.
Thus, far from being a self-induced disaster, global warming is the result of natural changes in the Earth's climate that promises to yield humanity positive benefits. In the geological scheme of things, the warming is not even that dramatic compared to the more pronounced warming trends that occurred during the Agricultural Revolution and the early Middle Ages. Moreover, there is strong evidence that this long-needed warming is moderating. All things considered, global warming should be viewed for what it is: A gift from the often fickle force of Nature. Enjoy it while you can.
3. Global warming is a natural geological process that could begin to reverse itself within 10 to 20 years, predicts an Ohio State University researcher.
The researcher suggests that atmospheric carbon dioxide -- often thought of as a key "greenhouse gas" -- is not the cause of global warming. The opposite is most likely to be true, according to Robert Essenhigh, E.G. Bailey Professor of Energy Conservation in Ohio State's Department of Mechanical Engineering. It is the rising global temperatures that are naturally increasing the levels of carbon dioxide, not the other way around, he says.
Essenhigh explains his position in a "viewpoint" article in the current issue of the journal Chemical Innovation, published by the American Chemical Society.
Many people blame global warming on carbon dioxide sent into the atmosphere from burning fossil fuels in man-made devices such as automobiles and power plants. Essenhigh believes these people fail to account for the much greater amount of carbon dioxide that enters -- and leaves -- the atmosphere as part of the natural cycle of water exchange from, and back into, the sea and vegetation.
"Many scientists who have tried to mathematically determine the relationship between carbon dioxide and global temperature would appear to have vastly underestimated the significance of water in the atmosphere as a radiation-absorbing gas," Essenhigh argues. "If you ignore the water, you're going to get the wrong answer."
How could so many scientists miss out on this critical bit of information, as Essenhigh believes? He said a National Academy of Sciences report on carbon dioxide levels that was published in 1977 omitted information about water as a gas and identified it only as vapor, which means condensed water or cloud, which is at a much lower concentration in the atmosphere; and most subsequent investigations into this area evidently have built upon the pattern of that report.
For his hypothesis, Essenhigh examined data from various other sources, including measurements of ocean evaporation rates, man-made sources of carbon dioxide, and global temperature data for the last one million years.
He cites a 1995 report from the Intergovernmental Panel on Climate Change (IPCC), a panel formed by the World Meteorological Organization and the United Nations Environment Programme in 1988 to assess the risk of human-induced climate change. In the report, the IPCC wrote that some 90 billion tons of carbon as carbon dioxide annually circulate between the earth's ocean and the atmosphere, and another 60 billion tons exchange between the vegetation and the atmosphere.
Compared to man-made sources' emission of about 5 to 6 billion tons per year, the natural sources would then account for more than 95 percent of all atmospheric carbon dioxide, Essenhigh said.
"At 6 billion tons, humans are then responsible for a comparatively small amount - less than 5 percent - of atmospheric carbon dioxide," he said. "And if nature is the source of the rest of the carbon dioxide, then it is difficult to see that man-made carbon dioxide can be driving the rising temperatures. In fact, I don't believe it does."
4. Is human activity warming the Earth or do recent signs of climate change signal natural variations? In this feature article, scientists discuss the vexing ambiguities of our planet's complex and unwieldy climate
Newspaper headlines trumpet record-breaking temperatures, dwindling sea ice, and retreating glaciers around the world. Concentrations of atmospheric carbon dioxide, one of the greenhouse gases responsible for scalding temperatures on Venus and at least 33 degrees C of normal warming here on Earth, are on the rise. Our planet seems destined for a hot future!
But is it really? Or are we simply experiencing a natural variation in Earth's climate cycles that will return to "normal" in time?
Correlations between rising CO2 levels and global surface temperatures suggest that our planet is on a one-way warming trend triggered by human activity. Indeed, studies by paleoclimatologists reveal that natural variability caused by changes in the Sun and volcanic eruptions can largely explain deviations in global temperature from 1000 AD until 1850 AD, near the beginning of the Industrial Era. After that, the best models require a human-induced greenhouse effect.
In spite of what may seem persuasive evidence, many scientists are nonetheless skeptical. They argue that natural variations in climate are considerable and not well understood. The Earth has gone through warming periods before without human influence, they note. And not all of the evidence supports global warming. Air temperatures in the lower atmosphere have not increased appreciably, according to satellite data, and the sea ice around Antarctica has actually been growing for the last 20 years.
It may surprise many people that science -- the de facto source of dependable knowledge about the natural world -- cannot deliver an unqualified, unanimous answer about something as important as climate change.
Why is the question so thorny? The reason, say experts, is that Earth's climate is complex and chaotic. It's so unwieldy that researchers simply can't conduct experiments to check their ideas in the usual way of science. They often rely, instead, on computer models. But such models are only as good as their inputs and programming, and today's computer models are known to be imperfect.
Most scientists agree that no single piece of data will likely resolve the global warming debate. In the end, the best we can expect is a scientific consensus based on a preponderance of evidence.
5. 30 Natural Global Warming Episodes Have Occurred During the Past 5,000 Years.
David Dilley of GWO has discovered a powerful natural forcing mechanism that controls global warming cycle, hurricane track landfalls, El Nino cycles and many other climate weather cycles.
David Dilley of Global Weather Oscillations Inc., Ocala Florida, has completed groundbreaking research on Global Warming. This research found that the current global warming episode is a "Natural Recurring Cycle", and that this current cycle will begin to diminish as early as 2015, and no later than 2040.
Mr. Dilley’s 15-years of ongoing climate research has uncovered a very powerful external forcing mechanism that causes shifts in regional weather cycles, and the world’s climate. This forcing mechanism is called “the Primary Forcing Trigger Mechanism”, or PFM. The PFM is a cyclical forcing mechanism that can be forecast years in advance, or even traced back through the earth’s climate history. The major influence of the PFM on the earth’s climate is that it causes the world’s dominating regional high-pressure systems to shift position, or become displaced from their normal seasonal position.
Because the PFM is cyclical, the earth’s weather and climate is likewise cyclical. As an example of an induced PFM climate cycle, the subtropical high-pressure system in the central South Pacific normally causes the ocean’s water temperature to stay relatively cool in this region. Dilley’s El Niño research (see link) explains that the PFM cycle induces a shift in the position of the high-pressure system where El Niños form. The resulting wind shift then triggers the formation of an El Niño by inducing a rapid warming of sea surface temperatures. Dilley says that research going back to 1915 showed 24 such PFM cycles and 24 El Niño occurrences. This research is currently under peer review and will go to a leading climate journal this summer.
Further research by Dilley and Global Weather Oscillations, indicates that this same PFM forcing mechanism displaces high-pressure centers in such a way to control the tracks of hurricanes from one year to the next. (See hurricane link) Knowing how and why this forcing mechanism controls weather cycles opened the door to the ground breaking global warming research.
Mr. Dilley states that the current global warming cycle is without a doubt the result of a known external “natural” forcing cycle. According to Dilley, most government officials, climatologists and meteorologists are looking only at the increase in temperatures and carbon dioxide (CO2) levels over the past 50 to 100 years. These correlations and findings are only representative during global warming episodes. When you take into account nearly 30 other global warming episodes over the past 5 thousand years, it becomes very apparent that CO2 levels cannot be the forcing mechanism that has caused global warming, but rather Long-term PFM climate forcing cycles. These cycles likely displace high-pressure systems and the polar jet stream northward during an approximate 200-year recurring PFM forcing cycle.
the years 1050 to 1205 AD. The peak warming of this cycle lasted 90 years from 1090 to 1180 AD, as delineated by the red box. The second global warming cycle was from 1285 to 1415 AD, with a 65-year peak from 1315 to 1380. The third global warming episode was from 1440 to 1590 with a 50-year peak from 1520 to 1570. The fourth was from 1700 to 1845 with a 45-year peak from 1740 to 1785. Finally, the current global warming episode began about 1910 and the peak about 1950, or about 57 years ago.
The graph and research indicates that each global warming cycle has duration of 130 to 160 years, and the peak of each cycle has duration of 50 to 90 years. Analyses of the 5 warming cycles and the history of PFM cycles, indicates that the current cycle is about the same duration as the one that occurred about 900-years ago. Therefore, the current global warming cycle will run from 1910 to 2060, with the duration of the peak warming occurring between 1950 and 2015. The peak warming will level off around 2015 and then begin diminishing rapidly by no later than the year 2030 to 2040. Once cooling begins it will only take 20 to 30 years to cool to the lowest part of the cooling cycle, temperatures much like what was recorded in the 1800s.
In addition to the 5 global warming cycles found during the past 1000-years, it should be noted here that a total of approximately 30 global warming cycles have occurred during the past 5000 years, with the warmest cycle occurring approximately every 1000-years, and the peak of the warmest cycle having a duration of 60 to 90 years. Referring to the 5000-year graph, the present long-term warming cycle can be seen on the right hand side of the graph, and 4 other long-term warm cycles date back 5000-years on the left side of the graph.
Analyses of the 5000-year graph indicates that long-term warming cycles have durations as short as 500-years as seen in the 2 cycles labeled A, to as long as 1000-years as seen in cycle C nearly 4500-years ago. Further analyses of cycle durations indicates that if the current long-term warming cycle which began in the year 1500 AD was of the same duration as cycle A, the peak of the current warming would of ended back in the year 1750, and it did not. In addition, if the current cycle was the same duration as cycle B, the peak warming of our current global warming cycle would have ended in the year 1900, and it did not. Now let’s take a look at cycle C. in the next paragraph..
Further research by Research by Global Weather Oscillations indicates that the PFM climate forcing cycle normally occurs in cycles of 5. Therefore looking back 5 warming cycles and 5 PFM cycles, we find cycle C that occurred 4,500 years ago and had a 1000 - year duration of the entire warm cycle. Using the mid-point of this cycle (500-years), the current long-term warming that began around the year 1500 AD will peak around the year 2000 AD, and end by 2500 AD.
Reconstructed Carbon Dioxide CO2 and Temperature Proxies Past 400,000 Years.
The graph below shows reconstructed Ice Core temperatures and carbon dioxide concentrations over the Antartica from near present time back 400,000 years. Of particular importance is that this graph shows 5 Natural Cycles during the past 400,000 years and as temperatures rise the carbon dioxide concentrations also naturally rise, thus mirroring the cyclical temperatures. It is well known throughout the scientific community that warmer temperatures can hold more water vapor, and water vapor absorbs and holds carbon dioxide. Thus these 5 Natural Cycles during the past 400,000 years mirror the 200-year global warming cycles shown early. Therefore, it is likely that the peak of all 30 global warming cycles during the past 4,000 years likewise had carbon dioxide concentrations very similar to the values found today.
Thus, carbon dioxide levels are not the cause of global warming....all global warming cycles are "Natural".
Natural Global Warming Cycles …. Putting it all together
The current long-term 1000-year warming cycle began about the year 1500 AD and will continue to near 2500 AD. This current long-term cycle will consist of 5 cyclical short-term global warming and cooling episodes. The world is now in the third of the 5 short-term cycles, and the warmest of the 5. The first short-term global warming episode peaked between 1520 and 1570 AD, followed by a cooling period until the next global warming episode peaked between 1740 and 1785. Temperatures remained cool throughout the 1800s to early 1900s, and then the third short-term global warming episode began. The peak of this current global warming episode began in earnest around 1950 and will level off as early as 2015, and no later than 2030-40. Then within 20 years temperatures will cool rapidly to the same levels as seen in the 1800s. The global warming cycles are approximate 200-year cycles, so the next global warming cycle will peak about 150-years after the end of the current cycle, or about the year 2200. This will be the 4th of 5 cycles within the current 1000-year primary warm cycle, and it will not be as warm as the current episode.
Global warming research has found 5 natural global warming cycles during the past 1000-years, and approximately 30 global warming cycles during the past 5 thousand years.
In conclusion - let the reader make up his own conclusions.
Data compiled by Yehuda Draiman, Energy Analyst – 6/14/2007
AMERICANS INSATIABLE THIRST FOR ENERGY MUST BE MODERATED R2
By YJ Draiman, Energy Development Specialist
As you know, many serious problems are associated with our insatiable thirst for energy. The reason is simple: To gain the energy we must burn the fuels. The combustion, by the way quite inefficient, causes huge gaseous emissions polluting the air and forming an invisible screen responsible for the famous “ green house effect ”, i.e., blocking the dissipation of heat and thus causing the feared warming up of our planet, with deadly consequences for nature and man.
There is only a finite amount of oil in the world. Everybody knows this.
Someday, we'll run out. It will be gone.
Meanwhile, our insatiable thirst for oil -- which we burn -- has put enormous sums of money into the hands of fanatics who hate us and everything we stand for, and who use that oil money to fund the terrorists who murder Jews and Americans wherever they can.
We can't burn oil forever.
And it's bad strategy to base our economy on cheap oil when we have to buy at least some of it from our enemies.
Optimists tell us that the free market will eventually deal with the problem. Their theory is that as oil gets harder to extract cheaply, the price will go up; then other forms of energy will become economically attractive and we'll switch over to them.
Here's why their optimism is nothing short of suicidal.
First, there's no guarantee that without intense government-funded research and financial incentives now, the new energy sources will be available in quantities large enough to replace oil when it does run out.
In other words, if we wait until it's an emergency, our economy could easily crash and burn for lack of energy sources sufficient to drive it.
It's easy to supply energy for an economy that's only a tenth the size of the world's economy today. The question is how many people will die in the resulting chaos and famine, before new free-market equilibrium is established?
Second, how stupid do we have to be to wait until we run out of oil before acting to prevent its waste as a fuel? Petroleum is a vital source of plastics. We could use it for that purpose for hundreds of generations -- if we didn't burn any more of it. But if we wait till we've burned all the cheap petroleum, it won't be just fuel that we have to replace.
Third, market forces don't do anything for our national defense, our national security. We had a clear warning back in the 1970s with the first oil embargo. What if terrorism in the Middle East specifically targets all oil exports, from many countries?
And even if they keep the oil flowing, why are we pumping money into the pockets of militant extremists who want to destroy us? Why are we subsidizing our enemies, when instead we could be subsidizing the research that might set us free from our addiction to oil?
You notice that I haven't said anything about polluting the environment. Because this is not an environmental issue.
In the long run, it's an issue of whether we wish to provide for our children the same kind of prosperity that we've luxuriated in as a nation since World War II.
It is foolish optimism bordering on criminal neglect that we continue to think that our future will be all right as long as we find new ways to extract oil from proven reserves.
Instead of extracting it, we ought to be preserving it.
Congress ought to be giving greater incentives and then creating mandates that require hybrid vehicles to predominate within the next five years.
Within the next fifteen years, we must move beyond hybrids to means of transportation that don't burn oil at all.
Within thirty years, we must handle our transportation needs without burning anything at all.
Predicting the exact moment when our dependence on petroleum will destroy us is pointless.
What is certain is this: We will run out of oil that is cheap enough to burn. We don't know when, but we do know it will happen.
And on that day, our children will curse their forebears who burned this precious resource, and therefore their future, just because they didn't want the government to interfere with the free market, or some other such nonsense.
The government interferes with the free market constantly. By its very existence, government distorts the market. So let's turn that distortion to our benefit. Let's enforce a savings program. But instead of putting money in the bank, let's put oil there.
Oil in the bank ... so our children and grandchildren for a hundred generations can slowly draw it out to build with it instead of burn it.
Oil in the bank ... so we'll be free of the threat of fanatics who seek to murder their enemies -- including us -- with weapons paid for at our gas pumps.
Do you want to know who funded Osama bin Laden? We did. And we continue to do it every time we fill up.
You don't have to be an environmental fanatic to demand that we control our greed for oil.
In fact, you have to be dumb and a fool not to insist on it.
But ... foresight just isn't the American way. We always seem to wait until our own house is burning before we notice there's a wildfire.
Oh, it won't reach us here, we tell ourselves. We'll be safe.
Talk about foolish optimism.
Fair Threat to World Economy But Oil Boycott Improbable
Energy Efficiency Must Be North America’s Priority but Canada and
U.S. Fail on Energy Efficiency Policies
“The despots of the moderate Middle East are non-players save for
their oil in the ground… My concern is that my grand kids might see parts of the
Middle East turned into a nuclear waste land, and Ali Baba and The Forty
Thieves. The world community needs to see a checkmate within the next 60 -
90 days. Failing that, Iran and Syria will be emboldened.” Reiterating an almost
universal view on the panel, this CEO emphasized that the world’s seemingly
The Chinese contribution to the energy crisis
The quest for resources. The dynamic Chinese economy, which has averaged 9 percent growth per annum over the last two decades, nearly tripled the country's GDP, has also resulted in the country having an almost insatiable thirst for oil as well as a need for other natural resources to sustain it. The PRC has been a net importer of petroleum since 1993, and has increasingly relied on African countries as suppliers. As of last year, China was importing approximately 2.6 million barrels per day (bbl/d), which accounts for about half of its consumption; more than 765,000 bbl/d – roughly a third of its imports – came from African sources, especially Sudan, Angola, and Congo (Brazzaville).
To get some perspective on these numbers, consider that one respected energy analyst has calculated that while China's share of the world oil market is about 8 percent, its share of total growth in demand for oil since 2000 has been 30 percent. The much publicized purchase, in January of this year, of a 45 percent stake in an offshore Nigerian oilfield for $2.27 billion by the state-controlled China National Offshore Oil Corporation (CNOOC) was just the latest in a series of acquisitions dating back to 1993 whereby the three largest Chinese national oil companies – China National Petroleum Corporation (CNPC), China Petroleum and Chemical Corporation (Sinopec), and CNOOC, respectively – have acquired stakes in established African operations.
Our insatiable thirst for Middle East energy is “the oil [that] feeds the fire.”
This idea that we can live in a homogenous cul-de-sac suburban development in our plastic homes driving 50 to 100 miles to work in a 4700lb SUV to our middle management job at Bed Bath and Beyond and expect this way of life to just continue on indefinitely with no consequences represents mind boggling ignorance and negligence towards our future. The "American Dream" is a relic of the Baby Boomer generation and will die with our parents and grandparents. To quote author James Kunstler: "Suburban development in this country represents the single largest misallocation of wealth and resources in the history of the planet."
So could a 900 acre photo voltaic array power a major metropolitan grid. No, probably not. But the question isn't how do we squeeze enough energy out of the technology to accommodate our seemingly insatiable thirst for electricity and fuel but rather how do we cut the fat and waste out of our civilization and our lives and actually live WITHIN our environment with some sort of sustainability. There is no one technology that will provide all our solutions. It will have to be a combination of wind turbines, solar and hydroelectric excluding the remote possibility that some new form of energy production (i.e. cold fusion or something equally fantastical) is unleashed on the world by CERN or ET. These power plants will operate primarily at a local level servicing on a much smaller scale than what we here in North America have been so used to in the last 70 or so years.
If the American public's insatiable appetite for automobiles continues, uncurbed by any sense of responsibility, someone must, like a parent with a selfish child, at least start slapping wrists.
Perhaps we should ration gasoline, and insist that all cars meet a miles-per-gallon minimum -- one higher than many sport utility vehicles, for example, achieve now. The rationing would not be a wartime figure, of course, but a reasonable amount allowed for business and pleasure.
Americans consume the largest portion of gas in the world and cry the loudest about the price.
The government should repeatedly increase the price of gasoline in an effort to slow our country's insatiable thirst for oil. Utilize the excess profits and taxes to fund research and rebates for renewable efficiency and renewable energy.
YJ Draiman, Energy Analyst – 6/19/2007
We are considering proposing a windfall profits tax at the county level on gasoline. I'd like some feedback on the feasability of doing this. We don't want to tax local or regional gas stations or distributors, but national refiners and distributors. Is this legal or workable? Has it been done or tried in other counties or municipalities? Does it make sense at all?
Thanks Best Regards
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*sigh*
Higher taxes on oil = LESS SUPPLY = HIGHER PRICES
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I'm surprised that someone as intelligent as Robert Reich is for a windfall profits tax. I would understand if he were still in politics, since bashing Big Oil makes the left froth at the mouth. However, there are some major problems with the WPT. First, it made matters worse when Carter inacted it. With fewer profits to invest in exploration, domestic oil production dropped (though part of the drop was caused by excessive regulations that make building new refiniries almost impossible). Second, it isn't good in a business sense to look at overall profits and nothing else. According to Exxon Mobil's annual report, they made ~40 billion in profits on ~400 billion in sales. Their net profit margin is around 10%. That is hardly excessive. My biggest problem with this proposal is that Reich somehow thinks that government can efficiently run R&D on alternative energy. My guess is that the farm lobby will push this money to be used on the non sustainable corn based ethanol scam that is currently going on.
I certainly don't claim to have any anwers, but I can't think of many instances where punishing business has ended up helping consumers.
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Some of us are old enough to remember the Dems peanut farmers attempt at windfall profits tax it was a colosal failure. No gas to buy,lines around the block to purchase 2 gal of gas, waits of up to 2 hours and they want to do it to us again wow I guess they think were stupid .And then to add insault to injury they don't want us to drill in our own country.
Mr. Reich: Do you believe there would be any merit in tying together, a wind-fall profits tax on oil companies, and directly using that money to lower federal taxes on gas (which I think is approximately 18.4 cents per gallon)? What better idea could there possibly be - than having a modest windfall profits tax on oil companies, to use to fund building highways in our country - and at the same time directly reducing federal taxes (for gas) on the consumer. Would greatly appreciate your comments sir.
Doug Martin
Clay Center, Kansas
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