Interesting piece on energy from (usually) wise man Charles Krauthammer in today’s WaPo that gets it two-thirds right on energy. He makes the case for tapping our own resources in ANWR and the Outer Continental Shelf and also makes the case for nuclear, two areas in which we would absolutely agree. However, he also includes as the third leg of the stool a higher gas tax, in order to lessen consumption.
Let’s put aside for the moment that a higher gas tax hits the poor and those on a fixed income disproportionately. Think of the impact on manufacturing and on all things that are transported, which is just about everything. Reference Red Cavaney’s point, noted yesterday here, that 92% of everything we buy has petroleum in its lineage. All those prices would rise if you boost the gas tax.
American manufacturers are already struggling mightily to compete in a pretty daunting global market while we have the highest legal costs, pay the highest prices for natural gas, have among the highest corporate tax rate, etc., etc. Let’s not add to this more expensive gasoline. A nice theory, maybe, but in practice would be deadly to America’s manufacturers and ultimately, consumers.
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