Ultra liberal pundit Ellen Ratner was doing her normal gig, along with Jim Pinkerton, on Fox News this morning. One of the subjects was gas prices. And, as usual, according to Ellen, it is all W’s fault. What should he do about it? Ellen’s ideas included "alternative energy," with no explanation of what, and, here we go, lowering the gas taxes. Amazing, huh? It proves to me two things. First, that Democrats will say anything to slander W. You know darn well they will not support lowering taxes on anything. Second, Ellen doesn’t have a clue. Why do I say that? The Federal gas tax is 18.4 cents per gallon.
Now, lowering the Federal gas tax a few cents would add up. Eventually. But it would be a drop in the bucket. Most taxes on gas are at the State level. For instance, North Carolina has a 26.6 cpg tax, plus a .25 cpg inspection tax. New York is 31.9 cpg. And don’t forget to add in any local and county taxes!
You want to lower gas prices? Stop the trading of oil. Eliminate the human influence which is what is driving up rates due to hysteria. Demand is up 2%. Supply is up 5%. Yet the hysteria in the market makes the cost per barrel go up. Hummmm.
Build new refineries. Build more nuclear plants. Look at more solar and wind power for homes. Invest in research to develop synthetic lubricants to replace petroleum based ones. See, ideas aren’t that hard, Ellen.
But, but, but…
You mean there is something that’s NOT Bush’s fault? I didn’t know that was possible!