This is what I've been saying, too
From the NYTimes teaser for John Tierney's column (I don't subscribe to the pay portion):
Update: I meant to include a link to this piece by Don Boudreaux at Cafe Hayek:
A gas tax is a far better way to encourage conservation and combat global warming than more fuel-efficient cars.Let me add that a higher gas tax would, in fact, induce more people to switch to more fuel-efficient autos. In the UK, where gasoline prices are roughly double those in North America, people tend to drive much smaller, more fuel-efficient cars; there are few big pickups and SUVs on the roads here.
Update: I meant to include a link to this piece by Don Boudreaux at Cafe Hayek:
...just a few years ago there were only three venture-capital firms focused on energy companies; today there are 76 such VC firms. So much money seeking ways to find new sources of energy!Me, too.
Those entrepreneurs and investors who succeed will become fabulously rich; those who fail will be poorer than they would have been had they not entered the quest.
And those of us who do nothing but freely choose which fuels to purchase will benefit enormously.
I love this market process.
Category: Economics, Energy, Global Warming Posted on
Saturday, April 29, 2006 at 3:25am
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But I realize that's probably wishful thinking. I'm enough of a realist to understand that politicians often operate as if they can spend even more when they receive a windfall.