Reply #6: But the higher oil prices are coming, whether we like it or not [View All]

[Inland]

until the day comes that demand is lessened.

Therefore the concept of taxing oil use should only be only the lines of, do you want to pay more for oil and have the money go to the US now, or pay more for oil and have the money go overseas later?

The issue of how the government spends the revenue raised from a tax on oil is incidental. Higher prices will lead to change, whether the prices rise gradually now or in a steeper curve later.

My preference would be a per barrel oil tax that increases every year automatically for, say, twenty years.