In
an earlier blog I argued for the creative use of commerce to deal with
some of our major international problems (Iran, Russia...) by cutting
the price of oil to $25.
I made a rough estimate that giving all American companies that use 5,000 barrels of oil a year a ten year period free of federal corporate taxes for a 50% reduction in oil use, would cost $100 billion in lost tax revenue.
Looking at the data here and
here it is clear that my proposal would cost a maximum of $30 billion
per year in lost taxes. That is less than we currently spend
subsidizing agriculture to produce more agriculture than we can consume.