Wrong reasons steer Obama to wrong path on oil import cuts

04/18/2011
by Bob Tippee, EditorThe goal reasserted by US President Barack Obama last month to cut US imports of oil by one-third can be good or bad, depending on the route chosen and the reason for making the effort.Although Obama deserves credit for acknowledging that the US won't soon quit importing oil, he kept the US off course.He wants to displace oil imports with renewable energy, nearly all of which is not commercial and requires subsidization by taxpayers. That's expensive.The Congressional Budget Office last year estimated the cost to taxpayers of replacing a gallon of gasoline with the energy-equivalent amount of fuel ethanol—the best-established oil substitute at this point—a...
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