Peak Oil News: After Oil Peaks, Geonomics Wins the Next Wave

Tuesday, December 14, 2004

After Oil Peaks, Geonomics Wins the Next Wave

It seems we must run out of oil -- and not a minute too soon, if there is any chance of stopping harmful climate change. While oil is not the lifeblood of industrial economies, energy is. Machines don't care if their power comes from fossil fuel or chicken manure -- but the ecosystem does.

To hasten and ease the transition to alternative energy sources, we could use geonomics. That is, we'd collect the annual rental value of oil, of all natural resources, even of surface land -- trillions of dollars each year -- use the proceeds to pay ourselves a dividend a la Alaska's but heftier, and meanwhile quit taxing our efforts and quit subsidizing social services (albeit corporate welfare is not exactly a true 'service'). Geonomics -- replacing taxes with land dues, and replacing government subsidies with “Rent” dividends for all -- lets industrial economies cure themselves of their addiction to oil both economically and politically.


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