John W. Rich Jr.: Fight OPEC with Cap and Trade Regs on Imported Oil
Leader in Waste Coal to Liquids Effort Says Cap and Trade Would Decrease Dependence on Foreign Oil and Spur Domestic Production of Liquid Transportation Fuels

 

For Immediate Release
Contact: John W. Rich, Jr. 570-874-1602

Gilberton, PA - What would OPEC do if we self limited our foreign crude oil imports? That's a question posed by a leader in the domestic waste coal to liquids effort, John W. Rich, Jr.

Leaders of OPEC will convene November 29 for another round of talks aimed at cutting global oil production to drive up the price of crude oil. John W. Rich Jr., is calling for a new cap and trade system to help the United States reduce its dependence on foreign crude oil, displace some of the oil currently being imported, and keep US dollars and jobs from being exported in exchange for foreign oil.

"Because of our overreliance on foreign crude oil, we as a nation are subject to the whim of the leaders of OPEC," said John. W Rich, Jr., CEO of Ultracleanfuels.com. "OPEC wants to cut production to raise oil prices. This will bring American consumers to their knees at the gas pump and exacerbate our economic woes. To reduce foreign oil producers' influence on our lives, we should institute a cap and trade system on foreign crude oil imports. This will begin to show immediate benefits by weaning Americans from their foreign oil addiction and promoting the development of domestic alternative liquid fuels derived from plentiful waste coal and biomass." These alternative domestic liquid fuels can be brought on line in a relatively short period of time.

The system would work like other cap and trade plans, whereby a cap on imports is set and refiners would trade among themselves for the right to use more foreign oil, up to the cap, and/or invest in alternative sources of domestic liquid fuel, creating quality domestic jobs and reducing the outflow of dollars to foreign suppliers. Over time, the cap could be pushed down as more domestic production comes on line, or conservation kicks in, further reducing our dependence on foreign oil and possibly creating a surplus resulting in a less expensive price for the foreign oil we continue to purchase/import. Cap and trade programs have been shown as an effective, market based method to control and curtail existing environmental pollutants.

John Rich is the CEO of ultracleanfuels.com. To learn more about his plan to make America energy independent visit ultracleanfuels.com.