Posted on 08/31/2005 11:37:33 AM PDT by kddid
Raising it to 50 cents or $1 per gallon would push conservation and send a signal to America's enemies. It's the surest way to cut oil dependence
Thanks to rising oil prices, the price of running a modern economy keeps spiraling higher. Crude has more than doubled since 2003, to some $65 a barrel, hitting a peak of $67-plus earlier this month. The average price for a gallon of gas has climbed to a record national average of $2.55. From Los Angeles to Boston, we're all suffering from price shock when we pull into a gas station.
What sort of action should government take in response to high energy prices? How about hiking the federal tax on gasoline? Yes, you read that right. Washington should raise the federal tax on gasoline from its current 18.4 cents a gallon to 50 cents -- or even $1.
STUFFED WITH PORK. The payoff from a steep gas tax could be huge, ranging from reduced reliance on Persian Gulf oil producers to a surge in technological innovation in energy. What's more, an audacious gas-tax initiative would give comfort to our allies and unsettle our enemies -- two big pluses during the war against terror and the fighting in Iraq.
True, Congress recently passed new energy legislation. But to call it pork-laden would be an insult to the sausage-making industry. The bill had little to do with savvy national energy policy and everything to do with rewarding well-heeled constituencies, such as the oil and gas industry, ethanol farmers, and nuclear power companies -- not to mention indulging in such ludicrous moves as extending daylight savings time.
(Excerpt) Read more at businessweek.com ...
I believe this "genius" overlooked the cost of shipping products to market. So in addition to the government picking our pockets, product prices rise also.
Hey, anyone know if Hawaiian electric power plants are fueled by petroleum?
My understanding is the greenies in Hawaii have blocked nuclear plants. I wonder how much oil it takes to run the entire state's electrics?
Lets tax the clymers, who want higher taxes. Tax them until they become bankrupt.
I usually don't point fingers and yell troll, but...
I am eagerly awaiting this "Pelosi-Rangel Energy Conservation Bill".
How about $10?
Liberal thinking!
We use too much damn money also.
Greenspan needs to raise interest rates since we can't control ourselves.
You can mock the basic economic laws of supply and demand, but it won't change them.
You might suggest to them that we place insane taxes only on gas sold within city limits, or along mass transit routes. lol
It just feels like transportation communism to me. Ride with all the other sheep, single file through the ticket lines, please. You also have the freedom of private transportation, but we're gonna tax your pants off if you do.
I wasn't mocking supply/demand. I was mocking taxes to artificially affect demand.
In 1980, the average American's inflation adjusted annual disposable income could buy 180 barrels of oil.
In 2005, the average American's inflation adjusted annual disposable income can buy 400 barrels of oil.
In 1980, disposable income per person was $16,940.
In 2004, disposable income per person was $27,230.
(Constant 2000 dollars)
In 1980, a barrel of oil cost $94.
In 2005, a barrel of oil costs $68.
(Constant 2004 dollars)
Such as... I voted for Bush in 2000, before he abandoned all truly conservative principles (free trade, fiscal responsibility, honesty, etc.) and turned his administration over to the religious extremists for whom somehow denying rights to gay people
We'll all be millionaires then.
I am for free markets but like to see less interference from gubment. It just makes the corrections larger and slower.
I do hope the energy companies have heard of the golden goose rule. He gets pissed when choked.
Surely you jest. Current fuel prices are not the result of Middle Eastern oil supplies nearly so much as they are the result of the shortage of refining capacity in the USA. We have about 50% of the peak US refinery count still running, thanks to oppressive environmental regulations and legal hurdles. The game we're playing isn't the Saudi game, it's the American environmentalist game.
Higher taxes are simply higher taxes. They are funneled into yet another wasteful bureaucracy or pork barrel project. Bad economics and bad policy.
First, the US only buys about 10% of its crude from the ME, the balance comes from Mexico, Venezuela, Russia, etc.. But all the crude in the world does no good when you can't refine it. China's demand has not increased dramatically in the last year or two, and world supply levels haven't changed that much either. How do you account for fuel price increases of %60 or more when the supply/demand for crude has only changed in the single digits?
11Bush done caught him a troll!!! Help him ZAP it!!!
the EU already taxes gas $3 plus and the only signal it sends is the $pend signal to bureaucrats.
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