Democrats' Gas Price Hike Set for House Floor Vote This Week
Econ 101: Raising Taxes on American Energy Producers Leads to Higher Gas Prices and a Greater Dependence on Foreign Energy
Washington,
Feb 25, 2008 -
On the House floor this week, House Democrats will bring their Energy Tax Hike back for yet another vote. This will be the third time they have brought up basically the same legislation with basically the same wrong-headed policies. The bill would raise the cost of gas for every American, send good-paying manufacturing jobs overseas, and increase our dependence on foreign energy.
The legislation would raise taxes on domestic energy producers and shovel much of that money into a giant slush fund for green pork projects to help subsidize hybrid snowmobiles in Aspen, replace police cars in Beverly Hills with Lexus hybrids, or give copies of Al Gore’s movie to give to schoolchildren. The American public is deeply worried about the rising cost of energy, a problem the Democrats’ bill would actually exacerbate.
The Washington Times reported on Friday that energy costs are the top concern among Americans: “Mortgages are making headlines and record numbers of homes are in foreclosure, but it’s high energy prices that really bother consumers. It’s the top problem people cite when asked what is wrong with the economy.” And the problem will only get worse:
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“… international tensions and disruptions in supply sent oil prices soaring above $100 a barrel this week while gas prices jumped back above $3 a gallon — more than 75 cents higher than a year ago. Some analysts say pump prices could go higher this spring … ”
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Are there better options? Of course: As an editorial for Investor’s Business Daily states, we can boost American-made energy to lower costs and reduce our dependence on foreign sources of energy:
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“… we have a trillion dollars worth of oil sitting under a section of frozen tundra the size of Dulles Airport near Washington, D.C. We could go get it. Instead we prefer to shovel billions of our dollars to thugs like (Hugo) Chavez while the same politicians who lock up our domestic energy praise him when he offers ‘cheap’ home heating oil to states in the Northeast.”
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So what have Democrats done about rising gasoline prices? Take a look at these recent headlines:
- “Survey: Gas Prices Rise 16 Cents,” San Francisco Chronicle, February 24, 2008
- “Gas Prices Going Up, May Hit $3.75 by Summer,” Lakeland Ledger, February 24, 2008
- “Pain at the Gas Pump ... It’s Back,” Asheville Citizen-Times, February 23, 2008
Before Democrats took the Majority in the House of Representatives, then Minority Leader Nancy Pelosi (D-CA) claimed that they had a common-sense plan to lower gas prices. Two years later, gasoline prices have skyrocketed under Democratic control, increasing from a nationwide average of $2.33 per gallon on the day Rep. Pelosi became Speaker to $3.04 per gallon now. Is this the “New Direction” Democrats are always talking about?
