RE: Kerry's Biofuels Initiative

> -----Original Message-----
> From: asa-owner@lists.calvin.edu
> [mailto:asa-owner@lists.calvin.edu] On Behalf Of Kenneth Piers
> Sent: Monday, August 16, 2004 3:06 PM
> To: asa@calvin.edu
> Subject: Kerry's Biofuels Initiative
>
>
> Friends: As part of his energy plan Kerry wants to establish
> a $20B "Energy Security and Trust Fund" capitalized from
> federal off-shore oil and gas leases. This trust fund is intended to:

Right now the oil industry is not drilling a lot because the prospects
are risky. Add a big tax onto the industry and you will get less oil,
because all economic analyses will ask the question if we can make money
if we find something. Marginal prospects will not be drilled simply
because of this tax.

Ken did a good job of debunking any salvation from biofuels.
Received on Mon Aug 16 20:18:10 2004