SAN FRANCISCO - In a letter sent today, more than 30 prominent scientists urged the federal government to continue the moratorium on fracking in federal waters off the California coast and to prepare a comprehensive environmental impact statement for the controversial oil-industry technique.
30 Scientists, 100+ Environmental, Health Groups Urge Federal Government to Maintain Moratorium on Offshore Fracking in California
Can we please try taxing energy regardless of carbon footprint and using the revenue to buy fossil fuel reserves as mineral rights? If US Bureau of Labor Statistics was right in 1968 And it still holds now that the energy demand coefficient is -0.37, that implies that the maximum revenue rate would be 85% of pretax price, and that at that price, total sales including the tax would be 126.8% of pretax sales at pretax price, and that 31.45% of quantity demanded would be lost to prohibitive tariff effect and that 68.55% of original quantity demanded would still be sold. Phased in to avoid shocking the economy, and with revenue used to buy political feasibility by buying fossil fuel as mineral rights from our too big to fail fossil fuel firms, it should force some energy conservation and investment in improvements in energy efficiency.