Robert Reich on Energy & Oil
Former Secretary of Labor; Democratic Challenger MA Governor
A carbon tax would have two additional advantages. First, it would push energy companies and businesses to invest in new ways to reduce greenhouse gases & lead to the development of more efficient sources of energy. Second, by stimulating such investments, the carbon tax would also boost aggregate demand
A: Well, itís great but itís not going to solve the long-term problem because demand is outstripping supply when it comes to oil. Demand from developing countries, demand from developed countries and thereís a limited supply of oil. This is the whole point--to move the nation as rapidly as possible to wind and solar and other alternatives, renewable sources of energy, that are also not going to harm the environment.
Q: But thatís going to take a long time for all of those other sources of energy to really have an impact. People are suffering right now, $4 a gallon.
A: It is going to take some time, but even the Energy Department says that if we had more drilling here in the US, it wouldnít be until 2030 that you real saw the results.
As Governor Iíll also make sure we fully implement our power-plant emissions rules, requiring a 50 to 75 percent decline in emissions of nitrogen oxides and sulfur dioxide over the next few years, and reducing emissions of mercury and CO2.
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Milton Friedman (Nobel Economist)
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Heritage Foundation (Think Tank)
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Robert Reich (Professor and Columnist)
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