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Why The Gas Tax “Holiday” Bill Won’t Help You But Will Mean BIGGER Profits For Big Oil

Tuesday Apr 29th, 2008

While Hillary Clinton has joined a number of other voices in Washington in supporting a bill that would temporarily suspend the federal gas tax surcharge (Barack Obama does not support it, as of now), don’t think you’re going to see a difference at the pumps. Well, any difference but ever upward prices, however.

First, most states impose a gas tax (often tied to the price per gallon so that even if you cut the percentage, the states still would get money but you’d pay a little less). Unless you can suspend that too… well..

But the second point is more important: historically, and with the way the bill now reads, the only people with more cash in their pockets AFTER we suspend the fed gas surcharge are the same oil companies the Bushies insist - despite these folks earning lifetime record profits now - require our $18 billion in federal welfare to support. It’s unlikely to cut the cost you pay at the pump even by pennies (and with experts now predicting the impending birth of $200/barrel crude, help!).

Third, Bush has started his threats with Iran yet again. So watch the prices JUMP further. If you charted the prices depending on what Bush says about Iran and elsewhere, you’d notice a very interesting pattern (as in, prices soar with each new/refreshed threat).

So I’d tell your elected reps to forget this bleeping bill and do something useful (for a change).

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