I understand that the Governmnet can NOT develop new energy resource.
The Government has TRIED since the Jimmy Carter era to develop new energy sources without any success whatsoever. It has spent HUNDREDS OF BILLIONS OF DOLLARS WITHOUT RESULTS.
What I claim is that a conservation tax on crude oil and other non-renewable energy sources (coal, natural gas) would prompt PRIVATE ENTERPRISE to develop new energy resources since it would be assured of a market for them.
The alternative is to face rapidly increasing energy shortages and surging prices that will put the World economy into a long-lasting depression. It is better to increase prices EARLY and moderately, than to permit this to happen.