How’s This for a Brilliant Energy Policy?
OK — so the price of gas is at an all-time high, and everyone agrees that much of the reason is that demand for gas is at an all-time high. So what’s the solution to this dilemma?
Well, if you’re Sen. John McCain (R-Ariz.) it’s easy: You propose legislation, as he did yesterday, to scrap the federal gas tax for the entire summer. (The idea did well on cable news.) That would encourage greater consumption, leading to even greater demand, leading to higher pri — Wait a minute! Higher prices? Is that really what we’re aiming for here?
According to the presumptive GOP presidential nominee:
Hard-working American families are suffering from higher gasoline prices, and they need relief. Now is the time to act with a tangible plan to address this problem. The ‘tax holiday’ will make the summer driving season easier for people across the nation.
Nevermind the effects on the federal deficit or the price of gas the summer. Are we buying votes here, John, or is this what passes for energy policy these days?