Posts tagged “taxes”
Energy Security Trust
Energy policy is a major topic of discussion during almost every State of the Union address. The most recent address was no exception, with President Obama devoting a substantial portion of his speech toward reviewing recent energy accomplishments, and then promoting new energy initiatives.
One of those initiatives was one of the three major energy policy recommendations that I promoted in my book Power Plays. Here was President Obama’s version during the State of the Union address:
I propose we use some of our oil and gas revenues to fund an Energy Security Trust that will drive new research and technology to shift our cars and trucks off oil for good. If a nonpartisan coalition of CEOs and retired generals and admirals can get behind this idea, then so can we. Let’s take their advice and free our families and businesses from the painful spikes in gas prices we’ve put up with for far too long. I’m also issuing a new goal for America: Let’s cut in half the energy wasted by our homes and businesses over the next 20 years.
Economic Heartache Normally, consumers consider falling oil and gasoline prices to be good news. They have to pay less to fill up their tanks. And if the reason for that is that oil supplies are increasing at a rate faster than demand is increasing, it can indeed be a good situation for consumers, and good for the economy. But here’s the bad news: That is not the case today. Oil prices fell last week to below $90 a barrel, their lowest level in six months. I think oil prices are likely to fall further in the short term, and gasoline prices won’t be far behind. While this news alone does mean that consumers will get some relief, the broader picture… Continue»
In my travels around the globe, I have never been to another country that regards their oil companies as we do here in the U.S. I have actually been in countries where people view their domestic oil companies as a source of national pride. Here in the U.S., the average person on the street views our oil companies as vile, greedy parasites on taxpayers that should be tarred, feathered, and run right out of the country. While this belief is commonly held among Democrats, even staunch Conservatives like Bill O’Reilly have gone on anti-oil company rants, while offering suggestions like “American oil companies must supply the federal government with a written explanation every time they raise the price of gas… Continue»
Dreams of a Child This past week my youngest son told me that he wanted to be president when he grows up. I still remember when I felt that way. As a child, I thought “I would make a good president.” I thought I had the qualities that you would want in a president. I was considerate of others, wasn’t selfish, made pretty good decisions, always spent less than I earned, and focused on long-range planning. As an example of the latter two qualities, I actually started investing into an IRA for my retirement when I was 16. I started putting money away for college for each of my children when they were born. I was certain that this sort… Continue»