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30 Scientists, 100+ Environmental, Health Groups Urge Federal Government to Maintain Moratorium on Offshore Fracking in California


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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.