Over at Fox News Alex EPSTEIN writes about “The 6 Myths About Oil”:

Every American consumes an average of three gallons of oil a day. Republicans and Democrats call this reliance on oil an “addiction”—an irrational, self-destructive habit that must be broken as soon as possible. This year’s BP oil spill disaster is only making the chorus to “end our addiction to oil” louder. But if we examine the most common arguments for this idea, we see that they are myths. Oil is a vital, viable, and desirable part of our energy future.

He goes on to list 6 myths (and their corresponding realities):

  • Myth #1: America’s reliance on oil is an “addiction”—an irrational, self-destructive habit. Reality: America’s use of oil brings indispensible value to our lives.
  • Myth #2: There are “green” technologies that are just as good, or better, than oil. Reality: There is zero evidence that any “renewable” can replace oil in any foreseeable future.
  • Myth #3: Because oil is finite, it will inevitably run out. Reality: There’s a lot more oil than you think—and if we have a free market in energy we will ensure that we find superior substitutes long before we run out.
  • Myth #4: Because oil is mostly in other countries, they can cut us off at will and create an economic catastrophe. Reality: International trade makes our energy supply more secure—and far more affordable.
  • Myth #5: Because oil money funds hostile dictatorships (Iran, Saudi Arabia) by using less oil we can make them poorer and make ourselves more secure. Reality: Direct threats to America must be fought through direct and decisive military action—not through multi-decade, sacrificial schemes to lower oil prices.
  • Myth #6: Because the burning of oil produces CO2, oil is a deadly pollutant that must be severely capped. Reality: Carbon-caps, not carbon emissions, are the real deadly threat to human life.

Read the whole discussion here…

Radicals for Capitalism

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