" A New Obama Energy Plan: Sell Oil Reserves, Use Profits to Invest in Clean Tech "

[megimoo]

Presidents and politicians of all political affiliations have said for decades the U.S. must find an energy source that can serve as a viable alternative to crude oil imports from foreign nations -- a fair number of which aren't exactly gushing supporters of the red, white and blue.

That talk hasn't translated into much action, however. Now oil prices are up again, holding above $110 a barrel, which is sending gas prices higher and weighing on consumers. Finding a solution we can all agree on regarding America's energy future isn't going to be easy. Daniel Weiss, a senior fellow and director of climate strategy at the Center for American Progress, believes his group has the answer.

"There's a few things we have to do to fight the recent spike in oil prices," he tells Aaron in the accompanying clip. "First, we need to crack down on speculators -- make sure that they're not intentionally driving up prices in order to make a quick buck. Second, let's eliminate the $40 billion in subsidies [over 10 years] for big oil companies that are going to make overwhelming profits anyway." (See: Tax Breaks for Big Oil Make "No Fiscal, Moral or Political Sense" )Additionally, Weiss is pushing for more fuel-efficient cars, specifically vehicles that would get 60-plus miles per gallon by 2025. He's also advocating a limit, starting in 2013, on the amount of foreign oil the U.S. imports each year and reducing that total by 5% a year.


http://finance.yahoo.com/blogs/daily-ticker/u-energy-plan-sell-oil-reserves-profits-invest-124232376.html%20?sec=topStories&pos=3&asset&ccode

[pyackog]

I'm no economics expert but wouldn't reducing the supply of oil coming into the country increase gas prices? :confused:

[lacarnut]

Presidents and politicians of all political affiliations have said for decades the U.S. must find an energy source that can serve as a viable alternative to crude oil imports from foreign nations -- a fair number of which aren't exactly gushing supporters of the red, white and blue.

That talk hasn't translated into much action, however. Now oil prices are up again, holding above $110 a barrel, which is sending gas prices higher and weighing on consumers. Finding a solution we can all agree on regarding America's energy future isn't going to be easy. Daniel Weiss, a senior fellow and director of climate strategy at the Center for American Progress, believes his group has the answer.

"There's a few things we have to do to fight the recent spike in oil prices," he tells Aaron in the accompanying clip. "First, we need to crack down on speculators -- make sure that they're not intentionally driving up prices in order to make a quick buck. Second, let's eliminate the $40 billion in subsidies [over 10 years] for big oil companies that are going to make overwhelming profits anyway." (See: Tax Breaks for Big Oil Make "No Fiscal, Moral or Political Sense" )Additionally, Weiss is pushing for more fuel-efficient cars, specifically vehicles that would get 60-plus miles per gallon by 2025. He's also advocating a limit, starting in 2013, on the amount of foreign oil the U.S. imports each year and reducing that total by 5% a year.


http://finance.yahoo.com/blogs/daily-ticker/u-energy-plan-sell-oil-reserves-profits-invest-124232376.html%20?sec=topStories&pos=3&asset&ccode

To be fair let's get rid of ALL subsidies. No deductions for depreciation on plant and equipment for everyone. No bailouts for banks. No subsidies for alternative energy. No tax credits for greenie car or tax credits for consumer energy products. No subsidies for farmers that produce our food. Let the free market decide the price on all goods without any government interference. Taking tax breaks from the oil companies which other companies receive and giving it to the greenie industry is not fair.

If this climate guru had a brain he would take it out an play with it cause he knows zip about the oil market. He should STFU. Reducing the amount of oil imported without added production would make prices go sky high.

[txradioguy]

Here's a novel idea.

Build more refineries here and drill for the oil available in our own country.

This whole dependency on foreign oil is a direct result of the Liberals and their "green" policies.

[namvet]

if he sells the reserve's what does our military run on ????

[MrsSmith]

All part of the overall plan to reduce America's standing in the world to nothing, and get rid of all those bitter gun and bible clingers...wiping out our energy resources will go a long way toward accomplishing this.