(Meant to get this out Wednesday, but one thing led to another.)Not a big Tom Friedman fan myself, but he does get off two memorable observations in his most recent column. Regarding the McCain (and, disgracefully, Clinton) proposal to cut the federal gasoline tax this summer:
This is not an energy policy. This is money laundering.
And this:
The McCain-Clinton gas holiday proposal is a perfect example of what energy expert Peter Schwartz of Global Business Network describes as the true American energy policy today: "Maximize demand, minimize supply and buy the rest from the people who hate us the most."
Minute's up.
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2 comments:
Levy a new tax on the oil companies in order to pay for the lost federal revenues from the gas holiday. The new windfall profits tax increases the cost of doing business for the oil companies. To recover the cost, petroleum companies increase the cost of gas. Net savings zero.
Kudos to Obama for thus far not engaging in this pandering. Unfortunately, though, pandering seems to work (Clinton vs. Tsongas, 1992).
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