Environmentalists are going to hate this….But here goes…Especially with pictures of oil soaked pelicans so fresh in our minds….they make me angry but…..
We are rightfully concerned about our large deficits and how long they can continue before our currency and economy can no longer sustain them…
Without teaching economics, basically we have to pay attention to three things. Government spending, imports and our economy. All three need attention. HOWEVER….
The one single thing we are totally screwing up is energy. At least $300 billion a year of imports are due to energy. It is the single largest simplest thing we can fix to fix everything else. Government spending WILL NOT be reduced by $300 billion no matter how much we wish it so…Basically every single citizen sends $1000 out of the country annually for energy..Imgine if that money was kept home!!!!
We need something like a manhattan project on energy, not just a finely balanced self sufficiency goal but an intentional “overshoot”. Simply put it should be the only stimulus we should invest in…
What does such a energy policy look like? It means we simultaneously do the following. All of it and more!!!!
1. Drill Anwar for OIL
2. No matter how bad the spill is, we launch agressive drilling expansions on both coasts.
3. We launch an aggressive nuclear energy expansion program, with at least 12 new reactors.
4. we allow coal strip mining above ground with the requirement to restore the land, mining companies are willing. It will actually save lives over digging tunnels.
5. We create a manhattan project regarding domestic technology in advanced energy storage i.e. batteries.
6. We aggressivly promote conservation at the same time, aggressively taxing energy consumption.
7. This taxation should be such that wind and solar can be economically competitive.
8. And yet, I agree the penalties for things like the BP screw up must be part of the risk of doing business and priced into energy, such that fialed operators pay for their mistakes. But regardless, we must create a glut of domestic energy..
The above will create tons of jobs. The goal must be to quickly end importing energy. We cannot fix anything in our economy unless we do this first. $300 billion a year of wealth being exported is killing us watt by Watt by wat, BTU by BTU…..This is no less than something of the order of WWII. It must be our national priority, our financial future depends on it….
I realize it seems so simple to just buy energy, but the economic drain is staggering. Noone would suggest we stop growing food and buyit all overseas, we must treat energy with the same mindset!
If there was ever anything that was an emergency this is it. Otherwise our economy dies a slow death as we export our remaining wealth year by year…
Doing the above will NOT result in cheap energy. In fact, quite the contrary, it will become more expensive, but more expensive money kept home will ulltimately be better for our economy and society. It should be obvious we cannot run such a deficit forever…