Bribing Voters With a Populist Energy Policy
Daniel Koffler, The Guardian | June 23, 2008
John McCain intends to subsidize domestic drilling and cut taxes to "free" the US of its dependence on foreign oil. ++ However, the basic rules of microeconomics doom this popular yet cynical energy policy to failure. ++ American gas prices would still be linked to global supply, demand would remain high, and the environmental consequences would be disastrous. ++ A transition to alternative energy sources, a strengthening of infrastructure, and a cap-and-trade system are the only sustainable option for the future.
