Mr. Nordhaus is the economist who put the subject back on the table with the publication of a prescient prewar paper that compared the coming conflict to a "giant role of the dice." He warned that "if the United States had a string of bad luck or misjudgments during or after the war, the outcome could reach $1.9 trillion," once all the secondary costs over many years were included.
That is the equivalent of adding 2 dollars per gallon to the cost of gasoline, diesel, and heating fuel over the next 20 years. But since a gas tax will not be imposed to pay for these oil wars, that debt will be compounded instead.
Lowering the standard of living and gutting the financial health of the USA.
On the other hand, a national policy to replace oil with renewable energy would revive our failing manufacturing sector, lower and stabilize energy prices, and instead of raising the national debt to astronomical levels as these oil wars are doing.. actually pay off the debt incurred by this korporate kleptocracy disguised as the bush administration.
