We would almost immediately be able to be self-sufficient on our fossil fuels - and the electrical/fuel cell car movement would explode.
It would take decades for us to complete the switch-over from gasoline powered cars/trucks/boats to electrical. We are pretty embedded in this.
But, where this will most likely be felt is in our utility bills. Heating and cooling bills should drop like a rock!! With more and readily available energy - technology should skyrocket. Imagine, your heating/cooling bill is ~$10-30/month to service your 5,000 sq ft home in Arizona.
“Imagine, your heating/cooling bill is ~$10-30/month to service your 5,000 sq ft home in Arizona.”
the Feds are ALREADY looking for a regulatory or tax mechanism to put that difference in THEIR pocket....
The thing is, when some prices plummet, and some services are no longer needed at all, those to whom those dollars used to go will be adversely impacted. Some, severely so.
That is also why we will never “voluntarily” do away with the federal income tax system. The sheer quantity of accountants, lawyers, government employees etc. that make their living off that system is staggering. You don’t pull rug out from under so many people without their being consequences. Severe ones.