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Wednesday, June 18, 2008 12:00 AM

Gas prices and offshore drilling

Not much is at stake on Election Day 2008. Just the long-term health of the global economy and the future of the planet. That's what the offshore drilling debate is all about.

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  • Wednesday, June 18, 2008 02:44 PM

    Gas Prices and Offshore Drilling

    Perhaps nothing better illustrates the current American experience than the juxtaposition of story about the Bush-McCain-GOP rallying cry to open new areas to drilling with Honda's press release regarding its new hydrogen powered car. Honda reports that it will be set to release the car, which gets approximately 280 miles on one fill-up, on a trial basis shortly, and will likely be in mass production within the next 10 years. In fact, the biggest impediment to Honda's car going into mass production now seems to be the lack of a hydrogen fueling infrastructure, which is just beginning to develop in Southern California. While America and its current ruling administration and CEOs are still pursuing old and inadequate solutions, a Japanese car company is preparing for the future. Don't believe anything can take down the mighty US economy? Well, how many US car buyers bought Hondas or Toyotas (or even heard of either brand) before the gas crisis of the early 1970's? This is simply the next step in the process. The US car and oil powers will continue to try to hang on to their outmoded way of doing things, and the rest of the world will invent its way farther and farther into the lead, leaving us in the dust (although hopefully with still enough money so that we can at least afford to buy their products).

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