Well Bert, a certain Labour government had the oil income for many years ahead, spent before a barrel was pumped. When you borrow that sort of money, you've got to pay a heck of a lot of interest!
I agree with the idea that fuel duty is the way to go, but that must have some sort of built in allowances to cover those who have little or no access to public transport.
The EEC has jus banned the use of 'Rebated' diesel [Red diesel] in boats, apart from fishing boats, thus throwing a lot of live aboard boat owners into a parlous financial position, this will save very little.
Meanwhile Gordon Brown has doubled the air passenger duty from £5 to £10, this is another drop in the ocean, and it still means that aviation fuel is untaxed!!
Aeroplanes [Gargoyle!!] are one of the largest contributors to greenhouse gasses!
Giok