 sahara says: There are many people who will rally behind "socialized" oil, but read on: Hidden Oil Subsidies The real price of gasoline is what people actually pay for it, not just what they pay for it at the pump. That might seem subtle, but there's a big difference. The Cato Institute, a libertarian think-thank, did a study on the subject. What they found is simply mind-boggling. They calculated that the US spent between $30 to $60 billion (with a 'b') a year safeguarding oil supplies in the Middle East during the 1990s, even though its imports from that region totaled only about $10 billion a year during that period. A more comprehensive study that includes the Strategic Petroleum Reserve and other oil protection services (the coast guard is clearing shipping lanes and doing navigational support to oil tankers, etc) shows that actual subsidies to Big Oil are between $78 to $158 billion (again, with a 'b') per year. So the real cost of gas for someone living in the US is the pump price plus the taxes it pays that are used to subsidize the oil industry. Suddenly, oil is not as cheap, and just like with corn-ethanol, these taxpayers dollars are making fossil fuels artificially more competitive and keeping cleaner alternatives down. Greens Need to go After Big Targets Many of us greens tend to lose perspective. Many will spend a lot of time and energy in getting small subsidies for their favorite green project, but the big target should really be ending these massive hidden oil subsidies to truly level the playing field. This would do more than all the renewable energy subsidies in the world, because it w... |
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