Idea #1 The Environment: Hydrogen

Subject:
Oil at $100? Let’s use hydrogen instead!
Date: Wed, 20 Feb 2008

Our economy. Steve Dunston 4624 Byron Circle Irving, TX 75038

Hydrogen is the most common element in the entire universe and there are several different car companies that have already developed hydrogen-powered cars. These cars are greener than green; there are no emissions that are harmful to our environment. Hydrogen as a fuel is starting to be used in forklift trucks in warehouses; why not in our cars? All we need is a truly accessible fuel supply distribution system, so let's encourage our country's oil companies to put hydrogen refueling pumps in every service station that sells their branded product. Having all our oil companies in the hydrogen distribution business should assure availability and price competition in the marketplace.

I think oil companies might welcome the opportunity to move into a new segment of the transportation fuel energy business by modifying their “gas stations” ventures, that if completely unchanged will be in decline. To speed the process along and as an extra incentive for the oil companies to act quickly, our government could create an excess profits tax on oil company profits, but completely exempt from that tax, any oil company that spends more than fifty percent of their profits installing a minimum of two hydrogen refueling pumps and storage capability at all of their service stations around the country. That should help us to make the transition to hydrogen fuel, very quickly. Once we get started, oil prices should drop dramatically and that will help our economy.

Steve Dunston
4624 Byron Circle
Irving, TX 75038

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Tom: The problem with hydrogen has been distrobution. This can be solved with a Carbon Tax on pollutors. If they pollute, we should tax them and make their goods and services more expensive to have the Carbon Footprint.

We also need to use our tax policy to institute an Excess Profits Tax on the major oil companies; however, if they install at least 2 hydrogen fuel tanks per service station, and provide a system of refueling electrioc cars, they would get tax credits that would recoup most of the tax.

We can and should write the tax code to provide the corporate behavior within the markets that fuels a "Green Color" technology and the new job creation that would go with it.