OPINION: How Free Trade Can Help Solve the Energy Crisis
The Wall Street Journal
OPINION
By ROBERT MCFARLANE and GEORGE PHILIPPIDIS
July 26, 2008; Page A9
The unprecedented escalation in oil and food prices is a clear and present danger to our economy and national security. The root cause of this crisis is our dependence on a single commodity, oil, for transportation -- we burn 145 billion gallons of gasoline a year. The only permanent solution is diversity in our fuel supply to ensure competition and choice in the marketplace.
While a number of alternatives to oil are being developed, we already have one strategic solution at our disposal: biofuels, both domestic and from Latin America.
Biofuels like ethanol and biodiesel are cheaper than fossil fuels, and will become even cheaper if we eliminate the senseless tariff on ethanol imports from Brazil. Ethanol can be used safely as a 10% blend with gasoline in all existing cars, and as an 85% blend in the increasing number of flexible-fuel cars on our roads. That means a 10% to 85% potential drop in gasoline use and, hence, freedom from the oil stranglehold.
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