Saturday, May 24, 2008

Sign Petition on Gas Tax Holiday

I have blogged before about the gas tax holiday proposed by Clinton and McCain. It sends a bad message but in fact my main objection is that it is stupid; since there is little scope to increase supply, the benefit would go to the oil companies as the price at the pump adjusts to the current price to balance supply and demand. In fact, now would be a good time to increase gas taxes, for the same reason; it would not affect retail prices in the short run, but would send a message that high gas prices are here for the long term.

To sign a petition on this go to

No comments: