Friday, March 25, 2011

GAS PRICES

High gas prices at the pump attributable in large part to Japan's nuclear crisis, violence in the Middle East, and the conflict in oil-rich Libya should be a spur for US energy independence. Drilling for oil which will help in the long term and increasing the use of natural gas, the development of hybrid vehicles, and battery powered cars, clean coal, nuclear power with the usual heavy oversight, solar power and other renewable energy sources will no doubt help. The Administration should ease drilling moratoriums, reinstate tax incentives for energy exploration and reduce anti-drilling regulatory policies. Drilling in an area north of the Arctic Circle for oil and natural gas could result in the next Prudhoe Bay, which would produce jobs, wages and revenues on a large scale.

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