Friday, October 21, 2011

STOPTHUGS #3: Stop Oil Subsidies.

I’m running out of inspiration quickly on this project, beginning to wonder if I’ve committed to seven days of posting without adequate thinking was a mistake. Will soldier on and complete this task though, for my own edification at least. This one might not be in the same vein as the others, since it actually really should go through with the right support. But, I’ll take the pessimists route and go for it.

Proposal: Ending the $122 billion dollars in financial support given to the oil industry by the federal government.

Background: The oil industry, from its inception, has received quite a bit of cash from the feds, and for good reason. Good things have occurred from the use of oil, don’t get me wrong. It stopped the harvesting of whales for their fat, it created a huge transportation system that allows people to see each other quickly, and is less polluting than coal. In order to survive past that initial investing and development stage to become viable however, it needed a lot of money and support to reach self sustainability. I don’t think it can be argued that the oil industry needs this much support right now.

Expected Positive Impacts:

  • Less government expenditure
  • Increases need for more efficient vehicles and alternative fuels
  • Pisses off oil executives
  • Sends a market signal that alternatives are more attractive to invest in.

Potential Negative Consequences:

  • Decreased funding interpreted as a cost to the industry, passed on to consumers.
  • More money spent on lobbyists (a given, and basically the status quo)

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