Democrats and Republicans alike are scrambling to find what political hay they can make out of rising prices at the gas pump. It's a made to order Washington crisis. Anything they do in Washington to avert the crisis will only make it worse, resulting in more stringent efforts avert the crisis. They're in political heaven. Here's Harry Reid.
"Americans are struggling to pay the rising cost of gas," said Senator Harry Reid of Nevada, the Democratic leader, "and they are not interested in handouts to help oil companies make more money by letting them drill in wildlife refuges."
The issue has turned tax and spend Democrats into tax cutting Democrats.
Democrats pressed their own ideas, including a proposal by Senator Robert Menendez, Democrat of New Jersey, for a 60-day suspension on the 18.4-cent-per-gallon federal tax on gasoline and 24-cent diesel tax.
"It is direct relief at the pump," Mr. Menendez said.
Some Republicans, including Mr. Thune, have also endorsed a suspension of those taxes.
Free market Republicans are turning into social engineers.
Senate Republicans tried on Thursday to get the upper hand in the escalating political battle over high gasoline prices by proposing a $100 rebate for taxpayers and by suggesting that they might increase taxes on oil-industry profits.
[...]
"This gas price issue is huge," said Senator Susan Collins, Republican of Maine.
It's huge, alright. It's a huge opportunity to make a mess, one that I'm sure they won't pass up. While there are quite a few in Washington who have no clue when it comes to economics, there is the remote chance that some sound policy will come out of this.
The Republican proposal also called for opening the Arctic National Wildlife Refuge to oil production, a provision sure to draw opposition from many Democrats and even some Republicans.
The technology is there and it's proven. Oil exploration and drilling can be accomplished without harm to the environment. It would be sound economic policy to go after that oil, but don't hold your breath.
Harry Reid is an idiot.
"and they are not interested in handouts to help oil companies make more money by letting them drill in wildlife refuges."
No Harry. We are interested in having the oil companies supply more oil. In fact we are demanding it.
Posted by: Stephen Macklin | April 29, 2006 at 08:51 AM
An excellent choice of words there Steve.
Posted by: Tom Bowler | April 29, 2006 at 09:49 AM
This is quite something....
Gas Price Gouging Vote Passes As Bush Voices Opposition to Tax Cuts
Posted by: nelson | May 03, 2006 at 06:34 PM
From the article Nelson points out:
It failed to pass by the two-thirds vote needed a measure to increase refinery production by making it easier for companies to get into the business. That vote was 237-188.
They're not serious. This is about political grand standing.
Posted by: Tom Bowler | May 04, 2006 at 06:29 AM