P. Kalven

Nobel Laureate Penzias: U.S. Needs a $1 a Gallon Gas Tax

Don't worry oil and gas prices will rise without further taxes long before any feasible energy alternatives kick into the economic equation as the world's conventional oil reserves diminish in the next few years.

It strikes me that a Carbon Cap is trading in thin air, but then given the current economic melt down, show me the difference.

It makes good sense to invest in the development of alternative energy; but it also makes sense to support the existing available structure of energy within North America. Consider what happens when the OPEC countries run out of conventional oil and the impact on the economy on that day in the near future.

It appears prudent to consider developing the power grid and improving the infrastructure of energy delivery on all fronts, not just power, but natural gas and oil as well. Energy is a cornerstone of the economy and I am mystified at how the industry is made to look like a villain, I’m sure like peanut factories there are those that skirt the regulations, but the many folks I know in the energy industry are focused on the efficient, safe and cost effective ways of exploring, developing and delivering the resources and take the environment impact into serious consideration, often in a proactive manner not noted by the media or casual observer.

Much of the pollution problem does exist with outdated methods of consumption, so again the effort to spur cost effective alternatives to reduce consumption by gleaning higher output makes sense.

This summer while you are driving behind the car of the unemployed fellow who just lost his house, that is spewing burning oil in thick black clouds, I do hope you enjoy the benefits of your Hybrid that can go all of 40 miles on a battery.

Again I am struck by the need to focus on building the recovery from the bottom through supply and demand; the movement of goods, services and capital. Any program that does that will be beneficial, any that cannot trace a path to doing that is more risk rather than benefit. Big Government, Small Government, Taxes, Tax Cuts, Deficits and Debt debates will prove themselves only in the arena of the market, and the market is stalled, capital and energy are pent up and I suspect Dr. Penzia understands what happens next; the question is will it be a positive explosion or destructive implosion?