Gas Prices

[tomonomics]

"Increasing the taxes on gas is just a bad idea. Six months from now there could be a war in the middle east and the speculators will drive prices through the roof again. "

There appear to be four wars already going on in the Middle East. What's another two or three? And for the record, the US is the largest producer of oil right now. The main reason oil is down, from what I understand, is that demand is not increasing as expected, and OPEC isn't colluding to raise the price (perhaps purposely?).

If gas goes back to $4 per supply/demand, it's still a good idea that we get an extra dime (or more!) per gallon that stays in the US, regardless of where it's produced/imported.

While I am not a proponent of higher taxes in general, the use tax on petroleum is way too low here. And before you say "higher gas = higher costs for everything", please tell me why airline fares, produce, and everything else we buy hasn't decreased by 50% over the last two years??? I am still paying $400 plus for a fuel surcharge on every flight I take to Europe (and when I get there, I pay higher petrol costs, and drive around in a a five speed VW Golf, not an SUV).

I'm not suggesting that we go from 40 cents to two dollars in tax per gallon. But a dime or a quarter now will barely be felt short term, and pay much greater dividends in the future.

-T