Many here are calling for a big fat tax on energy as the way for America to move into a sustainable future. It sounds good on the face of it, but that kind of cure might do more harm than good.
Sure, other countries have higher priced fuel and are doing just fine. The problem is that those countries also have a lot of other complementary conditions that don't exist here.
I'm a big fan of simplicity. That said, some things are just too complicated for a simple solution.
Just yesterday there were two diaries on the rec list that touched on what sad shape the American people are in.
1/3rd at or below 200% of the Federal Poverty Line
50 million 'food insecure'
40 million on food stamps(SNAP)
18% unemployed/underemployed
32 states bankrupt
Energy prices affect everything. Energy moves in step with food and both are volatile, which is why they aren't included in the Consumer Price Index.
There is the obvious direct cost of a gas/oil tax; spending more to fill up the car. And then there are the indirect costs. Be certain that any increase in the cost of producing fuel (oil tax), or using fuel (gas tax) will be passed on to us by companies.
When energy costs go up the prices of everything go up, but food and transportation most of all.
Other countries have high taxes on gasoline.
They also have better/more widespread public transportation. They have less income inequality and better wages and benefits. They have bigger, better social safety nets.
It would be cruel, certainly now, to push these costs on to the general public.
Bankrupt British Petroleum first. Freeze assets, seize assets, and start now because they will be trying to hide and save what they can.
Further mitigation efforts and sustainable energy investment should be funded through corporate and income taxes, and those taxes should be progressive.
Enough of stealing from the poor.