Gas is cheap

December 16, 2008

I paid $1.57/gallon for gas the other day. A fill up now costs less than $25. And I’m not driving around willy nilly (HA! love that phrase) or anything but I wonder if Barack Obama will take the chance to implement a gas tax to “guide” us to more fuel efficient ways. Remember he was the one who said “I think that I would have preferred a gradual adjustment” to gas prices.

His new energy secretary likes the idea:

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe,” Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.

But Mr. Obama has dismissed the idea of boosting the federal gasoline tax, a move energy experts say could be the single most effective step to promote alternative energies and temper demand

So BO likes the reasoning behind the idea (and nominates someone who agrees with him) but he is still against it. Change you can be distracted with.

Liberals aren’t the only ones who love this idea. Greg Mankiw, the former chairman of President Bush’s Council of Economic Advisors, and the founder of the Pigou Club is a big advocate for raising gas taxes. Conservative pundit and all around smart guy Charles Krauthammer likes it too.

Me? I’m undecided. I don’t have a lot of money so I like spending less of it on taxes. And it depends on where that tax money is going. Your thoughts?

(h/t Greg Mankiw)

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6 Responses to “Gas is cheap”

  1. superdave524 Says:

    A combination of allowing gas prices to rise to meet demand and increasing taxes would ultimately be a good thing, but I agree with Obama that it needs to be done gradually to allow time for people to make adjustments in their lifestyle so it doesn’t (again) cripple the economy.

    And I dig the Stones video.

  2. John in IL Says:

    I agree with Obama that it needs to be done

    The only problem is Obama isn’t proposing doing it. “Mr. Obama has dismissed the idea of boosting the federal gasoline tax”.

  3. superdave524 Says:

    Like Obama, I agree that whatever is done, needs to be done gradually. Unlike Obama, then, I don’t have a problem with using taxes to reduce energy consumption.

  4. John in IL Says:

    I’m glad that you disagree with the plan that Obama didn’t propose.

  5. John in IL Says:

    Or agree. WTFuck are we talking about?

  6. col Says:

    i dig the Stones vid 2!


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