| A Tax Cut Won't Cure The Pain In Our Gas |
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| Written by Samantha Hulkower | |
| Wednesday, 30 April 2008 | |
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Unless you are fortunate enough not to rely on a car for your day-to-day needs, you might have heard that oil is well on its way to $120 a barrel. This means we can expect $4.00+ gas this summer, and as much as $7 per gallon if when oil reaches $200 a barrel. American's aren't happy about the current gas price situation, so politicians have been obliged to come up with ways to win our hearts, and hopefully elected offices in November. President Bush went old school, suggesting drilling in ANWR. Aside from the multitude of reasons environmentalists abhor that idea, the truth is that it would take years to get the oil out of the ground. Americans are all about instant gratification, which explains why presidential contenders John McCain and Hillary Clinton have both suggested repealing the federal gas tax between Memorial Day and Labor Day. The federal tax adds 18.4 cents to every gallon of gas to cover the federal highway budget. Hillary suggested recouping the lost revenue from the oil companies, while McCain vaguely asserted the money would come from trimming other federal programs. Senator Obama has dismissed suspension of the gas tax as a gimmick, saying it would only save Americans about $30 and not solve the root cause of rising energy costs (we did the math: you'd need to buy about 163 gallons to save $30). Of course, since Obama had a legitimate point and would not resort to a band-aid to solve the problem, he's been pilloried by the McCain and Clinton camps. It seems that while in the Illinois legislature in 2000, Obama voted to suspend the state's 6.5 percent gas tax, but refused to make it permanent, saying then, as he is now, that consumers did not save enough money to make the tax repeal worth it. We're not quite sure how McCain justifies referring to this as "flip-flopping" considering that Obama evaluated his initial position, found it to be wrong, and has stuck with the enlightened position for the past eight years. The Maverick, on the other hand, knows a thing or two about changing one's position. Anyway, Bush actually agrees with Obama on this one, which may be the first and last time we write such a sentence. Comments (18)
  written by Samantha, April 30, 2008
I definitely think you have a point about drilling in ANWR, but I don't know if it is something that the oil companies have to push for. There are many, many other places that the government may try and tap first,most notably the Bearing Sea, which I had written about earlier. There is also still a lot of untapped oil in the Gulf, esp off the coast of FL.
I don't know if oil companies really do want $200 oil...the more money they are raking in, the more likely Congress will be willing to revoke their subsidies and even impose windfall taxes on them because the public outcry and need for financial aid will be too great not to. written by sdfad, October 06, 2008
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Third. RE: Drilling in ANWR. Why do you think oil companies are pushing for $200+ a Barrel by end of the summer? They figure the American public and Politicos will be clamoring for ANWR drilling at $200+ a barrel and Billary, Obama and even McCain will have little power to stop it because of the current economic crisis and the beginning of a world wide food shortage. I hate to inform you of the bad news but you may as well write off ANWR Drilling as a done deal, its just no one realizes it yet.
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Yeah, OK, we can be the change that we want to see in the world. But unless powerful people in powerful positions want to be that change as well, nothing's going to change.
So now, finally, there's a place where you can go for news and analysis of politics from an environmental perspective.
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Second, caping the oil reserves now wont help either, there isn't enough being pumped into it to make a impact on supply.
Third. RE: Drilling in ANWR. Why do you think oil companies are pushing for $200+ a Barrel by end of the summer? They figure the American public and Politicos will be clamoring for ANWR drilling at $200+ a barrel and Billary, Obama and even McCain will have little power to stop it because of the current economic crisis and the beginning of a world wide food shortage. I hate to inform you of the bad news but you may as well write off ANWR Drilling as a done deal, its just no one realizes it yet.