Washington Post (March 8)
2011/ 03/ 09 by jd in Global News
Oil again crossed the $100 per barrel threshold. The price hike isn’t entirely bad. It may “spur conservation and stimulate domestic oil production, thus rendering the country less vulnerable to future oil shocks.” The 1973 oil crisis certainly did. The U.S. economy now “consumes less than half as much petroleum and natural gas per dollar of economic output as it did.” In fact, the Post would welcome higher gasoline taxes to encourage “sensible long-term conservation measures.”
Tags: Conservation, Energy, Oil, Tax
