Petro-addiction on the wane?
Great article in The Economist this week entitled The end of the oil age (password required).
Most surprising was the following comment on the reluctance of the US government to do anything to curb demand for oil: “By introducing a small but steadily rising tax on petrol, America would do far more to encourage innovation and improve energy security than all the drilling in Alaska’s wilderness. Crucially, this need not be, and should not be, a matter of raising taxes in the aggregate. The proceeds from a gasoline tax ought to be used to finance cuts in other taxesthis, surely, is the way to present them to a sceptical electorate.” Eureka! I can’t believe I read this in this magazine. Good start to the day, me thinks.