“Reiterating his belief that the nation is 'addicted to foreign oil,' the president renewed his call for increased spending on science research, development and education and greater government incentives for the makers and users of alternative sources of energy.” (Seattle Times, Tuesday)
An amazing number of economic fallacies is packed into this policy.
FEE Timely Classic
“OPEC Sells Us Oil Because It Likes Us? It Just Ain't So!” by Jerry Taylor