Gabbing About Gas

Today Sen. Clinton gave a speech on energy policy, and she talked about our dependence on foreign oil. She thinks this over-reliance is bad, but yet she doesn’t want to increase domestic oil production. Instead, she is proposing to reduce foreign oil consumption by 8 million barrels — or 50% by her calculations — a day by 2025 by using more ethanol. President Bush pretty much supports the same program Hillary is espousing in regard to the corn-based fuel additive, as do many other Republicans. Ethanol is, of course, a huge issue in Midwestern states like Iowa, which just so happens to hold the first Democratic presidential caucus. She also says she will be introducing legislation to overhaul our nation’s energy tax system, including 50% tax credit for gas station owners who install ethanol pumps and for homeowners who make their houses more energy-efficient. In addition, she repeated her call for the creation of a $50 billion "Strategic Energy Fund," which would be paid for with profits from oil companies. "No longer can we all pass the buck and blame things beyond our control," said Hill. "It’s time for everyone, from the president and our oil companies to each of us, to adopt a virtual revolution in our thinking about energy and act on what we now know." Her speech was interrupted at the end by the usual anti-war protesters.