Dr. Munger has a PhD in economics and experience working in regulatory policy at the U.S. Federal Trade Commission. He holds a current joint appointment in Duke's Economics Department. He believes that only comprehensive energy reform will work to solve the nation's energy security problems, and help consumers in our state.
And as for the plan:
"It's an election year, which means that it is silly season for politicians. The supporters of new drilling are promising miracles, and the opponents are predicting disaster. They are both exaggerating for their own political purposes," Dr. Munger said.
Dr. Munger's proposed comprehensive solution would require broad cooperation at the federal and state level. The key points are:
1. End tariffs on ethanol imports.
2. Allow drilling and new exploration for high-yield sources of oil and natural gas on Federal lands and offshore in all U.S. waters.
3. End domestic ethanol subsidies, which waste both energy and money.
4. Allow the increasing price of gasoline and oil to do its job, by encouraging consumers to conserve, and rewarding oil companies for finding new reserves.
5. Allow the immediate development of new domestic refining capacity and cracking facilities, which has been held up for more than a decade by short-run political gamesmanship.
"The key is to recognize that the increased price of oil and gas will solve this problem for us, if we let it," according to Dr. Munger. "Oil companies will develop new reserves, and new refining capacity. Consumers will choose more fuel-efficient cars, and heating options. Alternative fuels and energy sources will become competitive, and will be developed rapidly in the marketplace."
Go read both Senator Barack Obama's and Senator John McCain's energy policies, and guess what you'll find? Double-talk, subsidies, and hand-outs.
There is very little difference between Demopublican candidates--a point Libertarians have been trying to make for a long time.