By: Todd Wheatley

President Biden makes his first real bad decision by calling for a three month GAS TAX HOLIDAY. Due to the way the gas tax is levied economists agree that the general public will not see the full benefit of the eighteen cent reduction. Possibly even a ZERO cent reduction at the pump! As someone of very modest means I would rather pay the tax that goes towards building and maintaing roads than to see one red cent go to oil producers, oil transporters, oil refiners, or anyone else in that industry.

Several times over the past five odd decades the oil companies have reaped insane profits due to wars, hurricanes, and supply shortages of every sort. At times the price of oil shoots upward simply through market speculators. Granted, the price of oil has dropped precipitously on occasion. Nevertheless the price drops never seem to last as long as the the price hikes. Consequently the profits outstrip the losses. There have been fruitless attempts to pass a WINDFALL PROFIT TAX on oil companies to redress the pain at the pump when prices go north.

Unfortunately no one wants to stae the obvious: IF YOU WANT PRICES TO COME DOWN .... CUT BACK!! REDUCED DEMAND WILL CUT PRICES!! Cause the oil companies some PAIN by reducing demand .... NO PAIN - NO GAIN .... strong leadership demands strong action or strong words. Again, unfortunately, no one is out there telling people to stop whinning; stop driving. To take the bus! Carpool! Make the oil companies hurt. REDUCED DEMAND WILL DRIVE DOWN PRICES! It's that fucking easy!

High prices are hurting the poor. The rich just pass it off as a pebble in their shoe and bitch about it. Leaving no one to act. So, as always, the politicians want to give something for nothing. That way the uneducated or uninformed will be appeased. While the ultra-wealthy reap the benefits.

KEYWORDS_ CURRENT EVENTs - President Biden, Democrat, politics; energy policy - oil - price per barrel, gasoline; SUPPLY & DEMAND economics

(ADDENDUM 07-18-22 ... so far the gas tax holiday hasn't materialized and yet the price of gas has dropped more than the planned tax break. Just how far the price of gas will fall without governmental assistance is anyibes guess ... ironically the people who are so quick to blame would never give credit ... warranted or not )

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