To the editor:
Like the movie “Groundhog Day,” the U.S. keeps repeating the same scenario on oil that began decades ago with the first Arab embargo: A crisis somewhere in the world disrupts global oil supplies, sending prices higher and hurting our economy.
In the long run, our nation will be better off if we end our self-destructive addiction to oil, no matter where it comes from. Higher gas prices threaten to slow our economic recovery, and some politicians are citing this as a reason to open more areas up for oil drilling and to approve the Keystone XL pipeline.
Instead of expanding oil’s influence, to break our addiction to oil and to improve our energy and economic security, Reps. Yoder and Jenkins and Sens. Roberts and Moran should support legislation, like the Save Our Climate Act, that prices carbon.
America must transition its automotive fleet to vehicles that run on electricity or biofuels: fuels that can be produced from clean renewable sources. We can speed that transition with a price on carbon that makes these alternatives more attractive to consumers. Returning revenue from the carbon fee to the public will shield our economy from the impact of rising energy costs associated with the fee while renewable energy is catching on.
The only way to protect our economy from price shocks in the oil market is to break the cycle of dependency on oil.