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Biden Calls for Gas Tax Holiday


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White House Fact Sheet

 

Quote

Right now, the federal government charges an 18 cent tax per gallon of gasoline and a 24 cent tax per gallon of diesel. Those taxes fund critical highways and public transportation, through the Highway Trust Fund. But in this unique moment, with gas prices near $5 a gallon on average across the country, President Biden is calling on Congress to suspend the gas tax for three months...

 

Personally, I think this is a bad move. I do not think that most consumers will feel the impact of the gas tax holiday as the savings are more likely to be gobbled up by middlemen than passed down to customers.

 

I get that the president of the US has very few options to affect gas prices in the short term, but I would rather see strong investments in medium to long term plans to alleviate our reliance on gas indefinitely than a short term band aid that's more likely to help the gas companies than consumers.

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Just remove his executive orders that he did to stop all the things that were working before he took office & it would help but he couldn't do that because it wouldn't be part of what he is trying to accomplish .

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19 minutes ago, T master said:

Just remove his executive orders that he did to stop all the things that were working before he took office & it would help but he couldn't do that because it wouldn't be part of what he is trying to accomplish .

 

Which executive orders should he revoke?

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1 minute ago, ChiGoose said:

 

Which executive orders should he revoke?

 

All the ones that stopped domestic oil & natural gas drilling that would be a great start .

 

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2 minutes ago, T master said:

 

All the ones that stopped domestic oil & natural gas drilling that would be a great start .

 

 

The timeline to bring new oil production online would not impact current prices. Additionally, there are thousands of permits already that are not being used. The government can issue as many permits as it wants, but if the oil companies don't drill, it won't do anything.

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9 minutes ago, ChiGoose said:

 

The timeline to bring new oil production online would not impact current prices. Additionally, there are thousands of permits already that are not being used. The government can issue as many permits as it wants, but if the oil companies don't drill, it won't do anything.

 

So then it's all Putin & Covid that has made the price since Biden took over & has nothing to do with his executive orders to change what was which is the reason that it has OVER doubled the price in 2 yrs ? 

Edited by T master
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1 minute ago, T master said:

 

So then it's all Putin & Covid that has made the price since Biden took over & has nothing to do with his executive orders to change what was which is the reason that it has OVER doubled the price in 2 yrs ? 

 

No, it's not all Putin and COVID, though those do impact it. It's also not likely to be domestic oil production:

 

image.thumb.png.509eda5cdd5d419e1b58f318affb1dbf.png

(Source)

 

There's no silver bullet for gas prices as the current prices are driven by multiple factors. It's just hard to argue that it's primarily driven by domestic production since that's still near historic highs.

 

This is why I do not believe there is a short-term solution. The US President cannot sign an order that fixes supply chain issues, eliminates price gouging, immediately increases production, and ends the war in Ukraine. A gas tax holiday is like spitting on a fire.

 

That's also why I think we should be focused on more medium to long term solutions. If we cannot fix this problem immediately, let's work to make sure it doesn't happen again.

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https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/

 

“It would have an immediate psychological impact on price,” Flynn said – noting a Keystone reboot announcement that would bring oil from the tar sands of Canada could knock off up to $10 from the price of oil just at the stroke of a pen, even if the pipeline were years away from production

 

You’ve got diplomacy on Ukraine. You’ve got diplomacy with Iran. Now you’ve got diplomacy with Venezuela,” Kloza said. “You know, it might be advisable to have some diplomacy with oil and gas companies.”

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30 minutes ago, ChiGoose said:

 

The timeline to bring new oil production online would not impact current prices. Additionally, there are thousands of permits already that are not being used. The government can issue as many permits as it wants, but if the oil companies don't drill, it won't do anything.

I know you're smarter than this.

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8 minutes ago, ChiGoose said:

 

No, it's not all Putin and COVID, though those do impact it. It's also not likely to be domestic oil production:

 

image.thumb.png.509eda5cdd5d419e1b58f318affb1dbf.png

(Source)

 

There's no silver bullet for gas prices as the current prices are driven by multiple factors. It's just hard to argue that it's primarily driven by domestic production since that's still near historic highs.

 

This is why I do not believe there is a short-term solution. The US President cannot sign an order that fixes supply chain issues, eliminates price gouging, immediately increases production, and ends the war in Ukraine. A gas tax holiday is like spitting on a fire.

 

That's also why I think we should be focused on more medium to long term solutions. If we cannot fix this problem immediately, let's work to make sure it doesn't happen again.

 

I posted this recently the implementation of alternatives will take a very long time as stated in this video by some one that knows much more about it that you or I .

 

https://www.youtube.com/watch?v=wDOI-uLvTnY&t=2s

 

And i have little if any faith given the decisions in the recent past of this POTUS to this point he hasn't made any good decisions to help the country or it 's people out ! 

 

Going back to OPEC, Saudi arabia , or Venezuela will in no way help because they will gouge the US for past actions & statements made against them .

 

 

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5 minutes ago, DRsGhost said:

https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/

 

“It would have an immediate psychological impact on price,” Flynn said – noting a Keystone reboot announcement that would bring oil from the tar sands of Canada could knock off up to $10 from the price of oil just at the stroke of a pen, even if the pipeline were years away from production

 

You’ve got diplomacy on Ukraine. You’ve got diplomacy with Iran. Now you’ve got diplomacy with Venezuela,” Kloza said. “You know, it might be advisable to have some diplomacy with oil and gas companies.”

 

What common sense in politics wouldn't that be a great thing if the "Career Politicians" might interject that in their thought process !! 

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4 minutes ago, DRsGhost said:

https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/

 

“It would have an immediate psychological impact on price,” Flynn said – noting a Keystone reboot announcement that would bring oil from the tar sands of Canada could knock off up to $10 from the price of oil just at the stroke of a pen, even if the pipeline were years away from production

 

You’ve got diplomacy on Ukraine. You’ve got diplomacy with Iran. Now you’ve got diplomacy with Venezuela,” Kloza said. “You know, it might be advisable to have some diplomacy with oil and gas companies.”

 

I'm sure it would have marginal impact on prices for something like that, but I'm not going to take the word of an oil industry exec arguing that the government should help his company as gospel.

 

Just a quick glance ate oil prices versus gas prices shows that in July, 2018 the price of oil was about $165 per barrel and gas was $4.11. In May 2022, the price of oil was $115 and the price of gas was $4.55. So even with oil being $50 cheaper per barrel, gas is $0.44 more expensive than it was during that peak.

 

So even if Biden gave a full throated endorsement of more drilling and domestic production, it may only move the needle a little in the short term.

 

Sources:

(Oil prices)

(Gas prices)

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47 minutes ago, ChiGoose said:

 

No, it's not all Putin and COVID, though those do impact it. It's also not likely to be domestic oil production:

 

image.thumb.png.509eda5cdd5d419e1b58f318affb1dbf.png

(Source)

 

There's no silver bullet for gas prices as the current prices are driven by multiple factors. It's just hard to argue that it's primarily driven by domestic production since that's still near historic highs.

 

This is why I do not believe there is a short-term solution. The US President cannot sign an order that fixes supply chain issues, eliminates price gouging, immediately increases production, and ends the war in Ukraine. A gas tax holiday is like spitting on a fire.

 

That's also why I think we should be focused on more medium to long term solutions. If we cannot fix this problem immediately, let's work to make sure it doesn't happen again.

 

https://needtoknow.news/2022/06/union-pacific-rail-to-cut-fuel-shipments-by-pilot-flying-j-truck-stops-and-gas-stations/

 

It is a supply chain thing but i feel it is becoming more man made than anything ...

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24 minutes ago, Doc said:

Of course he did.  I'm just surprised it isn't for 5 months...

 

Probably just to cover the summer, where there is more driving, and therefore more demand on gas.

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10 minutes ago, Jauronimo said:

How much domestic production did he "stop"?

 

What ever the amount that his 53 or so (29 + in the very first day) executive orders he signed in the first 100 days in office which is the highest in history .

 

I didn't actually read the orders so i don't know exactly which ones but if one would depend on the lame stream media to actually report about those particular actions we are being foolish & if one thinks that the price of fuel can over yes OVER double in the short time this man has been in office & he had absolutely nothing at all to do with it then they are a dam fool .

 

It just really strikes me as very strange that this administrations & it's clean energy agenda with change to electric vehicles is coinciding with this fuel price hike coincidence i think not but you go ahead & believe that Putin, Covid & the other reasons they spew are it.

 

I'll wait to see the BS uncovered like it was when Biden went on national TV & said & i quote "If you get the vaccine you cannot get or spread covid you are completely protected" which just gives me all the more reason to not believe this lying POS  !! 

 

Then there is this stuff that helps their stance why all the sudden why now ??

 

https://needtoknow.news/2022/06/union-pacific-rail-to-cut-fuel-shipments-by-pilot-flying-j-truck-stops-and-gas-stations/

 

https://www.youtube.com/watch?v=wDOI-uLvTnY&t=2s

 

But i know none of this will make any sense to those that believe Biden is doing a great job .

 

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