What to do?
We’ve drilled, baby, we’ve drilled. We’re now drilling more in
this country than we have in nearly a decade.
We’ve given tax breaks and other wasteful incentives to oil
companies to try and ease our pain at the pump. We now give
about $4 billion in tax breaks to the oil and gas industry each
and every year.
We’ve listened to naysayers tell us that pursuing clean
energy alternatives to oil and gas is a waste of our time and
money. Now, the United States is lagging much of the rest of the
world on clean energy.
And what have we gotten in return? Gas prices that are
hitting new highs, an economy held hostage to global
instability and an oil industry monopoly on our transportation
system.
There’s nothing we can do to control the price of gas in
America, because oil prices are set on a global marketplace. As
we’ve seen, more drilling certainly isn’t the answer, because
that’s done nothing to reduce prices at the pump. The only thing
more drilling has done is increase profits for oil companies –
to the tune of $137 billion last year alone, a 75 percent rise
since the year before. Who else got a 75 percent raise in the
middle of a recession?
source: NRDC
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