All Posts Tagged With: "foreign oil"

T. Boone Pickens is Right About Oil Imports? It Just Ain’t So!

The $700 billion that Americans spend annually to purchase oil from other countries (according to Pickens) is a price not a transfer. For the $700 billion we send to oil exporters, we get something in return—oil. Our receipt of millions of barrels of oil in exchange for that money is hardly a transfer. We receive a versatile commodity that can be used for everything from making plastics to fueling family vacations. The exporters receive the $700 billion that they can then use to purchase other goods and services.

1Apr2009 | E. Frank Stephenson | 6 comments | Continued

Let’s Not Be Energy Independent

“Energy independence” is a term that sounds good but falls apart on closer examination. Although the United States could achieve energy independence, we could do so only at an enormous cost. Energy “dependence” is much cheaper and much more desirable. Before considering the costs and benefits of energy independence, I should define my terms. What [...]

1Oct2008 | David R. Henderson | 10 comments | Continued

Hands Off “Windfall” Profits

You don’t have to like the oil companies to reject the windfall-profits tax. All you have to know is that if you tax something, you’ll get less of it. No one can seriously dispute this piece of common sense. That leaves the strong suspicion that the motive for the tax is punitive: those companies are [...]

1Jul2008 | Sheldon Richman | 0 comments | Continued

Energy Policy: Wisdom or Waste?

Roger McKinney (rdmckinney@cox.net) is senior analyst for a quasigovernmental health-care agency in Tulsa, Oklahoma. We can’t help ourselves. Americans crave the black gold that pulses through the concrete arteries of our nation’s transportation system. In the opinion of many, we have hocked our future for a cheap fix with a drug that abandons our nation [...]

1May2007 | Roger McKinney | 5 comments | Continued

Government-Mandated Fuel-Efficiency Standards

Government mistakes have long lives. In response to the energy crisis of the 1970s, Congress passed the Energy Policy and Conservation Act. This legislation had two major objectives: 1) Reduce our overall consumption of petroleum and 2) reduce our dependence on foreign oil (meaning OPEC). The means to accomplish this was CAFE, Corporate Average Fuel [...]

1Sep2006 | Michael Heberling | 3 comments | Continued

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