Laffer on Energy Independence

[ryanpatgray]

Via the Wall Street Journal:

In part, Laffer says:

@ARTHUR B. LAFFER

The platitude of “energy independence” makes zero economic sense. Yes, it’s true that many nations that supply us with oil are run by anti-American governments. But unfortunately embargoes don’t overturn despotic regimes. More often than not they harden them, as in Zimbabwe, North Korea and Cuba. Since the U.S. is so reliant on oil, embargoes will hurt the U.S. as much, if not more, than the countries of OPEC.

Here is the link.

[ecoli]

Jerry Taylor of Cato makes excellent point against energy independence as well.

[ryanpatgray]

@ecoli

Jerry Taylor of Cato makes excellent point against energy independence as well.

Thanks, I will have to look that up.