Why would a politician promulgate policy that would boost gasoline consumption, enrich Big Oil, increase dependence on foreign crude, hasten global warming, rob the federal highway trust fund and threaten thousands of jobs?
Actually, there are two short and simple answers to that long-winded question: 1) It's an election year. 2) John McCain and Hillary Clinton are trying to buy your vote.
The proposal for a federal gas tax holiday this summer, contrary to the candidates' claims, is not an honest, earnest attempt to alleviate the plight of the poor.
It's pure political pandering, as Barack Obama points out. At best, it would put a few pennies in your pocket if Congress approves this foolish proposal.
Economists say the idea flies in the face of the law of supply and demand. In times of constricted supply, like now, the price rises to a level necessary to reduce the demand to meet the available supply. If you lower the price by suspending the tax, the demand increases, a shortage is created, and the price goes back up. Only the oil industry gains.
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