Day By Day

Thursday, August 21, 2008

Stossel Strikes Again

John Stossel, one of the best slaughterer of sacred cows we have, writes regarding the chimera of "energy independence":

Most every politician and pundit says "energy independence" is a great idea. Presidents have promised it for 35 years. Wouldn't it be wonderful if we were self-sufficient, protected from high prices, supply disruptions and political machinations?

The hitch is that even if the United States were energy independent, it would be protected from none of those things. To think otherwise is to misunderstand basic economics and the global marketplace.

He goes on to explain just why the whole concept of energy independence is not only unworkable, but dangerous. Read the whole thing here.