The utter stupidity of gas-pump politics

A lot of buzz is being generated lately by the discussion on whether to eliminate the federal gas tax temporarily. McCain wants the "tax holiday", as does Hillary. Obama doesn't. None of the three get it right.

The key word is "temporary" when discussing the gas-tax holiday. Would such a break help ordinary folks? Sure. But not to any great degree, and just wait for the anger come September when prices suddenly jump 18 cents in one day. But the real problem with the gas tax holiday is that it addresses none of the underlying conditions that keep prices high.

Don't be confused, though. I'm not taking Obama's side. His opposition to the gas tax holiday isn't based on anything resembling sanity:

Obama said the proposal to suspend the 18.4 cents-a-gallon gasoline tax and the 24.4-cent diesel tax from Memorial Day to Labor Day would provide little in actual savings to motorists. He said oil companies would quickly raise prices to make up the difference.

Couched in cynical anti-business tones typical of the hard left, Obama hides the fact that he, along with too many in Congress, is the reason for the high prices in the first place. Opposition to any reasonable expansion of domestic production is the core of $3.50+ gas prices, any will continue to be long after the debate about the gas tax holiday fades.

The oil companies have consistently operated on profit margins of around 8%. Most other industries operate on higher margins. Obama surely knows this, and his populist rhetoric on the topic ranks as some of his most blatantly dishonest.

What we really need (and aren't gonna get this election season) is a policy that allows exploration and production of U.S. oil assets, and a permanent reduction in gas taxes (50% would be a good start). Yes, it would take years for some of the benefits to be realized. So what? Do we really have to dismiss any policy that doesn't give results in a single term of office? I expect elected officials to do what's right for the country no matter how difficult or how long it takes. I'm really tired of instant gratification politics, and bet you are, too.

Of the three candidates, none currently have policy stances that will help at the gas pump, and two have policies that will cause great harm. McCain isn't completely opposed to new drilling, but seems to be too sensitive to environmentalists, who oppose any drilling at all. Clinton and Obama (who both oppose drilling) both want to raise taxes on oil companies, which has historically proven to raise gas prices, not lower them.

It's sad that we have to choose on the basis of who would do the least amount of harm to ordinary consumers, but given that it's all we have, McCain is the clear winner on energy policy.

BTW, am I the only one who's tired of hearing how good we have it here at $3.50 compared to Europe at $7-8+? France, Germany, and the UK pay the same for a barrel of oil that we do, the only reason their pump prices are so high is because their outrageously high taxes are even more outrageously higher than our outrageously high taxes. It's a model unworthy of either comparison or emulation.