Senator Clinton isn't alone in thinking a gas-tax holiday is a good idea, but that doesn't actually make it one. Unfortunately, there's a very simple reason that explains most of why gas is going up - and it isn't even the war in Iraq (though, it's not helping). The largest factor in gas going up isn't even price gouging, or anything that oil companies are doing (though, again, they aren't helping).
The problem is this administration's contempt for the US dollar, which has fallen so drastically that of course it's going to be reflected in oil prices. The bottom line is that, if people want affordable gas under current circumstances, they need to elect more Democrats to push back on this President's disastrous policies that have quickly killed the dollar in Washington D.C. We need more Democrats in Congress, more in the Senate and especially a Democratic President to boot. That's the only way to reverse the Republican agenda and set this country back on the right course, which Democratic Presidents have a pretty darn good track record of doing.
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5 comments:
Maybe the ravenous appetite for oil from the growing middle class in China and India has a little to do with world oil prices. Sometimes our national policies can't stem the tide of world economics. (Invest in overseas mutual funds)
Well, it's not helping, but as I said on the blog, the diminishing value of the dollar accounts for much more than a majority of the price increase in gas. Upwards of 60-65% of it.
It might not be a bad thing anyway in the long run. Rising gas prices will spur innovation to come up with alternatives, and if the US technology sector comes forward with (hydrogen?) something, we'll benefit accordingly.
The point of this blog wasn't really to suggest that rising gas prices are bad, as much as it was to point out that the rising prices are mostly because of the deflating dollar. I agree that we need to move away from oil - and have publicly supported raising the gas tax as one way to do it - but the dollar's drop is a serious concern which is only most obvious when seen at the gas pump.
Currencies ebb and flow. It'll work out when some of China's domestic policies come back to haunt them and the dollar will ascend again.
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