Does anybody view the gas tax “holiday” as anything other than election year pandering?
I am shocked at the number of folks I speak to who are excited about the proposed gas tax “holiday”. We need a serious energy strategy for the future before we are engulfed in the chaos of the middle east and yet people are being led astray by mere pennies. The outlook for oil supplies “signals a period of unprecedented scarcity,” Jeff Rubin, an analyst at CIBC World Markets, said last week. Oil prices might exceed $200 a barrel by 2012, he said, a level that would very likely mean $7-a-gallon gasoline in the United States. If we think this election year is bizarre, imagine what $7 gas will do to the economy by the next presidential cycle.
