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Posted by: svensun 1 year, 5 months ago
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svensun1 year, 5 months ago
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MY suggestion for how to lower oil prices, while preventing foreign oil producers from damaging our production, would be to eliminate ALL domestic energy taxes, every single last one of them. No gas tax, no electricity tax, no fuel tax, NOTHING.
I would have ZERO taxes on domestic energy production, of ANY kind: nuclear, coal, oil, natural gas, wind, solar, etc, to encourage competition between them.
Instead, I would charge a TAX on all FOREIGN ENERGY IMPORTS, a sort of VAT tax, which the importer must pay as he brings it into the country, not on the consumer at the pump, or on his bill. That would mean that companies that mostly import oil or natural gas would be at a price disadvantage versus those who do not, and it might just cause downward pressure upon oil prices, as Americans find other domestic fuels that are more competitive with foreign oil.
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