John McCain’s Bad Idea
Update: Seems other critics quickly emerged:
Analysts criticized the proposal for doing little to either stimulate the economy or lower gas prices, and say it could potentially leave roads in disrepair.
“It’s a quick fix for people who believe cheap gas is their birthright,” said Tom Kloza, chief oil analyst at the Oil Price Information Service, a research firm. “It’s not a prudent thing to do.”
He also said reducing demand is one of the best ways of lowering gas prices, and suspending the gas tax may encourage motorists to drive more – a move that would certainly benefit the oil companies.
“Look, somewhere down the road you have to use less,” said Kloza. “As painful as it might be, higher prices do sway behavior toward a more energy disciplined America.”
Apparently, John McCain thinks gasoline demand needs a boost:
In a proposal sure to get the most attention in the near-term given record-setting oil prices, McCain proposed a suspension of the federal gas tax from Memorial Day to Labor Day – traditionally the heaviest season for driving. At just over 18 cents per gallon, that would save the average driver about $2.35 every time he fills up his tank.
I know, I just picked out that one item from the story. There are lots of other economic issues covered. But higher gas prices are starting to impact consumer behavior in a positive way. It is not the right message to send to people that when gas prices get high, Big Daddy will step in and make things right. (Don’t get me started on the mortgage mess; I am getting one now and I am paying for the irresposibility of others).
The message McCain should be sending is just the opposite: Structure your life as if high gas prices are here to stay. Lower your energy usage. Of course that’s why I couldn’t be president. People don’t vote for candidates who ask them to sacrifice.