Sunday, May 7, 2006

Friedman: "With a Congress like this, who needs Al Qaeda?"

Friedman decries empty political gesturing in a NYT Op-Ed entitled Lets (Third) Party.

What would OPEC do if it wanted to keep America addicted to oil? That's easy. OPEC would urge the U.S. Congress to deal with the current spike in gasoline prices either by adopting the Republican proposal to give American drivers $100 each, so they could continue driving gas-guzzling cars and buy gasoline at the current $3.50 a gallon, or by adopting the Democrats' proposal for a 60-day lifting of the federal gasoline tax of 18.4 cents a gallon. Either one would be fine with OPEC.
Friedman envisions a centrist, forward-looking third party (the "American Renewal Party") as a solution. Less narrowly focused and less liberal than the Green Party, its primary focus would be on energy.
The only way Americans are ever going to enjoy relatively cheap gasoline again is if we raise the price now with a gasoline tax— and fix it at that higher level for several years — so investors know that it is not coming down, and therefore it makes economic sense for them to make the long-term investments in alternative, renewable sources of energy. That is the only way to break our oil addiction and ultimately bring down the price.

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