POWERFUL US OIL PRODUCTION TREND TO SAVE THE WORLD
This one powerful trend could lower personal and corporate tax rates in America, help balance budgets, keep corporations onshore, and limit the power of Russian and Sunni Extremist.
In today’s NY Times, Thomas Friedman writes:
The way you defeat such an enemy is by being “crazy like a fox,” says Andy Karsner, the former assistant energy secretary in the last Bush administration and now the C.E.O. of Manifest Energy. “We have one bullet that hits both of them: bring down the price of oil. It’s not like they can suddenly shift to making iWatches.” We are generating more oil and gas than ever, added Karsner, and it’s a global market. Absurdly, he said, the U.S. government bans the export of our crude oil. “It’s as if we own the world’s biggest bank vault but misplaced the key,” added Karsner. “Let’s lift that export ban and have America shaping the market price in our own interest.”
But that must be accompanied by tax reform that puts a predictable premium on carbon, ensuring that we unite to consistently invest in clean energies that take us beyond fossil fuels, increase efficiency and address climate change. Draining our enemies’ coffers, enhancing security, taxing environmental degradation — what’s not to like? And if we shift tax revenue to money collected from a carbon tax, we can slash income, payroll and corporate taxes, incentivize investment and hiring and unleash our economic competitiveness. That is a strategy hawks and doves, greens and big oil could all support.
To read the whole article, go to http://www.nytimes.com/2014/09/07/opinion/sunday/tom-friedman-leading-from-within.html?smid=tw-share