White House, congressional Democrats eye pause of federal gas tax as prices remain high, election looms www.washingtonpost.com/us-policy/2022/02/15/democrats-gas-ta…
The White House and top Democratic lawmakers are beginning to weigh a new push for a federal gas tax holiday, potentially pausing fees at the pump as part of a broader campaign to combat rising prices…
Some senior officials also fear the policy might be difficult to end later, since no politician would want to be seen as raising prices, according to two people familiar with the matter who spoke on the condition of anonymity to describe the discussions.
Some senior officials also fear the policy might be difficult to end later, since no politician would want to be seen as raising prices, according to two people familiar with the matter who spoke on the condition of anonymity to describe the discussions.
DB2
On Topic: Too bad they don’t have the Keystone Pipeline that some politician cancelled on his first day in office Eh?
Keystone XL Pipeline Cancellation Makes Suit Against Biden Moot. Texas, Alabama, and several other states can't proceed with their lawsuit over the Biden administration's decision to revoke a permit for the now-canceled Keystone XL pipeline project, a Texas federal court ruled Thursday.Jan 6, 2022
Some senior officials also fear the policy might be difficult to end later, since no politician would want to be seen as raising prices, according to two people familiar with the matter who spoke on the condition of anonymity to describe the discussions.
A rise in gas prices in Venezuela caused riots and toppled the president (on trumped up charges).
On Topic: Too bad they don’t have the Keystone Pipeline that some politician cancelled on his first day in office Eh?
Wouldn’t make a difference to the US. Keystone was to bypass the US market entirely and sell it (via long term contract) to Europe and Asia. Otherwise, no need for the Keystone Pipeline because existing pipelines could handle any oil exports destined for the US market.
People were chattering about the same thing in 2008.
The Congressman I had then actually sought out input from his constituents. I had fired off a couple e-mails to him on various topics, which may have gotten me on his contact list. I received a recorded message from him asking for input on the gas tax suspension issue, and provided the phone number for his local office for my comments.
I called the office and told the staffer what I thought: suspending the tax was a very bad idea, because potholes don’t go away on their own. The road maintenance the tax revenue pays for is needed. Suspending the tax will only make the roads worse than they are.
Here in Michigan, the roads are among the worst in the country. Several years ago, the state played a shell game, increasing fuel and registration taxes, but withdrawing an equal amount of road funding that came from general revenue, so, even though Michigan has among the highest tax burdens on fuel, road maintenance is still underfunded. The Gov that took office after that scam, has proposed using the state’s budget surplus to increase road maintenance funding. The opposition controlled legislature is proposing more tax cuts for the “JCs” instead.
During the winter pothole season, I take the expen$ive tires and alloy wheels off my car, and put on expendables that I bought off of eBay. The expendables paid for themselves the second winter I had them, when I bent a wheel on a pothole.
The White House and top Democratic lawmakers are beginning to weigh a new push for a federal gas tax holiday, potentially pausing fees at the pump as part of a broader campaign to combat rising prices…
I guess now that they passed the infrastructure bill, they no longer need that tax to fix the roads? Somehow I don’t see this being floated if the infrastructure bill had not yet passed. Super short sighted, IMO. A lower gas price not only fails to contribute to the road maintenance without the tax, but it also fails to discourage use of gasoline when we need to do so.
I am not a fan of changing the calculation to better tell the tale you want it to tell, particularly when it is sending you warning signals that need to be listened to. Now is the time to “Whip Inflation Now!”, not kick the can down the road by putting lipstick on that pig. Next thing you will see is housing being taken out of the calculation.
Wouldn’t make a difference to the US. Keystone was to bypass the US market entirely and sell it (via long term contract) to Europe and Asia.
Often not until after it had Value Added by US refineries so it could be sold as finished product? Once it becomes gasoline, diesel or Jet fuel where it goes probably depends on the market?
The Keystone XL pipeline would transport crude oil extracted from *** sands in Alberta, Canada, and shale oil from North Dakota and Montana to Nebraska. The Keystone XL pipeline would then connect to existing pipelines and transport oil to refineries along the Gulf Coast. The pipeline would span 875 miles.
But Larry Summers, a former treasury secretary and top White House economist under prior Democratic administrations, called the idea of a gas tax holiday “short-sighted, ineffective, goofy, and gimmicky.” A high-profile critic of the Biden administration on the issue of inflation, Summers said the policy’s impact is at best unclear because it may boost demand in other parts of the economy.
“It’s terrible policy at a moment we’ve labeled climate change as an existential threat,” Summers added.
called the idea of a gas tax holiday “short-sighted, ineffective, goofy, and gimmicky.”
Absolutely! Anything that helps middle-class or poor Americans should be avoided.
The best way to fight inflation and climate change is with big taxpayer subsidies to the banks and fossil fuel producers. Then we call all enjoy that sweet, sweet “trickle-down” that has lifted so many boats over the past four decades.
Once it becomes gasoline, diesel or Jet fuel where it goes probably depends on the market?
Nope. Canada wanted to sell the oil via contract to Asia and/or Europe because they would get a higher price for it there than in the US. This was specifically stated by TransCanada in their economic impact study submitted to the Canadian govt. That study also said the US farmers and consumers would have an increased cost of doing business because that cheap Canadian oil was leaving the US for other markets, thus forcing price increases in the US breadbasket (and nationwide). Estimated increase of $5B/yr to the US economy.
intercst:“The best way to fight inflation and climate change is with big taxpayer subsidies to the banks and fossil fuel producers. Then we call all enjoy that sweet, sweet “trickle-down” that has lifted so many boats over the past four decades.”
The wholesale price of ethanol (very high these days) adds 25c a gallon to your ‘gas’ bill. In addition to doing that, for each gallon of ethanol added, your fuel mileage goes down roughly 10%.
So you buy 11 gallons of ‘fuel’ at $3/gal. You get the same gas mileage as if you bought 100% real gas in OK (it’s available all over there and at most marinas and Buc-EEs truck/auto stops. So…you’ve wasted $3 buying that gallon of ethanol that does nothing for moving your car. Just reduces overall ‘fuel mileage’. Big joke, but it keeps a million farmers/supplies happy and agri-business rakes in 10s of billions of bucks from people who have to buy ‘gas’ for their cars.
If you look at the taxes paid by the oil majors - you’ll find they pay a whole lot more - like 80 billion in taxes - than they receive in ‘subsidies’. Most are simply depletion allowances on their oil/gas fields.
You don’t want to buy gas? Great, buy an EV. Most EV charging stations charge a giant fee for charging up your car. Likely as much as buying a tank of gas… and EV stations are going to rake in the bucks, big time. 30-40-50 cents per KWH… someone has to pay for all that ‘investment’ and ‘cost to operate it’. You do know, that there has to be provisions for ‘handicap’ drivers, too, at those charge stations? Got to be able to call an attendant. If not, wait for the first lawsuits! Even your 7-11 has to provide handicap services.
Nope. Canada wanted to sell the oil via contract to Asia and/or Europe because they would get a higher price for it there than in the US. This was specifically stated by TransCanada in their economic impact study submitted to the Canadian govt.
Very odd, followed the subject for years, owned a significant to me position in TRP, don’t recall any mention of what you speak of?
With TMX (Trans Mountain Expansion) there would be no need to ship oil to the gulf coast then by sea to Asia and or Europe as the ships could sail direct from our West coast. Of course TMX is delayed probably late 2023 now but they didn’t know that at the time that two US POTUS’ played politics with Keystone.
In truth I really thought it was a bad idea for the CEO to accept the invite to come to the White House for the signing when previous POTUS insisted on restarting it. He looked like he would rather drink poison but was trapped.
If I thought it was important … but it isn’t now it it?
Of course not. TransCanada did not publicize the impacts on the US anywhere–except in its official economic impact statement made to the Canadian govt.
Most are simply depletion allowances on their oil/gas fields.
Depletion allowance is the most ridiculous tax loophole I know of. Do you get a depletion allowance for your depleting physical and mental faculties? Why not?
The joys of being able to buy politicians.
The wholesale price of ethanol (very high these days) adds 25c a gallon to your ‘gas’ bill. In addition to doing that, for each gallon of ethanol added, your fuel mileage goes down roughly 10%.
Cutting down trees to plant corn does not save the planet. Farmers also buy politicians.
What claims in the National Wildlife Federation were false?
Well, it would be nice if the National Wildlife Federation had provided a link to a pdf of the “secret” government filing.
According to its own secret documents submitted to the Canadian government, TransCanada expects the pipeline to increase gas prices in the Midwest by up to 15 cents per gallon
