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The Dartmouth
March 28, 2024 | Latest Issue
The Dartmouth

Buckey calls for gas tax to stimulate use of alternative energy

10.12.09.news.tax gas
10.12.09.news.tax gas

The major problem with America's energy industry is that it is too heavily dependent on petroleum, according to Buckey. More than 90 percent of energy for transportation comes from petroleum, he said, citing data from ExxonMobil.

In order to address the United States' dependency, proposed policies have included subsidies for renewable energy sources, tariffs on oil imports and increased efficiency standards for motor vehicles. These policies, however, are ineffective at diverting resources to alternative energy because oil is too cheap, so it is economically infeasible to develop other energy sources, Buckey said.

Buckey recommended the government implement a gas tax to lock the cost of gas at the current price "to send a psychological message that the price of oil is not going to go down." The government could then increase the price of gas gradually, he said, and use the additional funding to help those who cannot afford the higher price through rebates.

Addressing the United States' dependence on petroleum is critical because most oil is imported, Buckey said. Domestic oil production has dropped steadily since 1971, and the United States has been increasingly dependent on foreign fuel.

Global production of crude oil has already peaked and is on the downturn because oil consumers are "less and less likely" to find more crude oil, Buckey said.

The major producers of global crude oil are also often at odds with the United States, Buckey said. An overwhelming majority of the world's crude oil comes from national companies in countries like Venezuela, Saudi Arabia and Iran.

"So you can't really be sure if politics isn't going to play a role when it comes to having access to oil resources," Buckey said. "President Ahmadinejad could probably use the cash for the nuke program but we could keep the money here."

The United States also needs to confront its dependence on petroleum because of global warming, Buckey said, given that gasoline use leads to increased greenhouse gas emissions.

"We're running an experiment on our home planet," Buckey said. "I mean, this is like testing every new drug on pregnant women. You just don't want to find that out."

Buckey's lecture was part of the Jones Seminars on Science, Technology and Society, sponsored by the Thayer School of Engineering.