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What's so bad about foreign oil? http://www.latimes.com/news/opinion/la-oe-stein8-2008aug08,0,2887025.column http://www.latimes.com/news/opinion/la-oe-stein8-2

• JesseAldridge 18y ago
  The problem with oil isn't that it comes from foreign sources -- the problem is that supply is running out.
  • aneesh 18y ago
    Exactly. The problem is not so much with foreign oil, as with oil itself. Higher taxes to reduce consumption(Economists call these Pigovian taxes) seem to be a good choice to reduce emissions in the short term, but technological advances provide the long-term hope.
    • Andys 18y ago
      As opposed to here in Australia, where we our higher petrol tax goes back into building more roads and thus driving demand higher.
      • steveplace 18y ago
        Well it's the opposite in the U.S. Mileage decreased for the first time ever last quarter, which is leading to less tax revenue to repair the roads. The most efficient tax would be tolls, but the implementation is a nightmare.
  • Prrometheus 18y ago
    > the problem is that supply is running out. ...eventually. In the 19th and early 20th century there was a lot of people scared that coal was going to run out and torpedo the early industrial economy. Quite a few prominent intellectuals were worried about Peak Coal. It didn't happen. It COULD theoretically happen, granted. But technology grew to use different inputs and the price system gave people incentive to explore new deposits. We still have tons of coal.