Bush was on the television the other day discussing his desire to make the tax cuts permanent. That would be wonderful... I can't stand taxes.
But how do you make up for those lost revenues? Here's an idea, and it would also make gasoline cheaper... Cut the income tax, like Bush wants (and I want) and supplement the lost money with a higher gasoline tax. Simple.
Encourage people to work harder by allowing them to keep more of their income while discouraging them from purchasing gas guzzling vehicles that are not only bad for the environment, but for our overall foreign policy as well.
We don't need to drill in Alaska, like they were discussing on CNBC today. That's just another short-term solution. (I agree with most of what Vince Farrell was saying, BTW.)
We need bigger, longer term initiatives that will end our dependence on oil and gasoline, not increase it. The oil guy was saying we'd get 10 billion barrels (potentially...) from ANWAR... that amounts to an extra 1 million barrels of oil a day. We're currently using 20 million barrels a day, so that'd give us a potential 5% increase in supply.
So what kind of savings can you really expect at the pump? To be generous, 5%? Or, 20 cents on $4 a gallon of gasoline?
Is that really the best we can do? Is it worth continuing to ruin the environment? Absolutely not. We need to show leadership and develop new technologies. Imagine America exercising some positive leadership in the world again? That would be nice, and it would also provide jobs.
A decade ago, we produced 40% of the solar panels made in the world... now we produce 8%. Look, you don't have to be a genius, or even a liberal democrat, to see that oil and gasoline production is not the future... so why are we heading backwards?