Breaking Our Addiction to Foreign Oil

By: Lance Winslow
Submitted: 2007-01-17 16:23:56
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Is the rehabilitation of America's addiction to foreign oil possible? Is it possible to grow our own fuel and drill for our own oil? Carnations incredible thirst for oil, diesel and gasoline is severely impacting our economic future. As gasoline prices hit four dollars per gallon or five dollars per gallon during the height of hurricane season and oil barrel prices reach $90 per barrel one has to wonder if the small businesses can survive. We must break our addiction to foreign oil, but changing our factories to build alternative fuel vehicles and switch from gasoline is no easy proposition. Many believe it is impossible now for America to break the addiction to Middle Eastern oil.

The government could provide tax incentives to promote flex fuels and biofuels, but many experts warn their maximum capacity even if we go for it all the way by 2012 will only be 12 to 15% of our total usage and this may not be enough. What sorts of government tax incentives could promote the use of flex fuels or biofuels? Well, what if we reduced the federal taxes on gasoline by 7.5 cents per gallon if it contained 15% or more at all or 7.5 cents per gallon on bio diesel?

And what about the infrastructure? How can we get gas station owners and truck stops to convert their pumps so that they can run bio diesel or ethanol blends? Could we give the gas station owners a one-time tax credit of $40,000 to convert two or more pumps and their gas stations? What about the truckers and trucking companies? Could we give them $2500 per year discount on their road truck taxes? We need to do something and it needs to be a comprehensive plan, which gives incentives to car buyers, trucking companies, and fuel distribution companies alike. Perhaps you'll consider this a 2006.

Lance Winslow

Article source: Expert Articles

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