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Archive for April 24th, 2008

One of the rare economic issues in which I support Obama’s stance. A gas tax-holiday, at this stage, is little more than a populist gimmick. It is bad fiscal policy, bad energy policy, bad environmental policy and — as previous experience shows — will do little to provide consumer relief.

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Virginia Postrel writes in the dynamist blog:

It’s infuriating how all three presidential candidates prattle on about the need to fight global warming while also complaining about the high price of gasoline. The candidates treat CO2 emissions as a social issue like gay marriage, with no economic ramifications. In the real world, barring a massive buildup of nuclear plants, reducing carbon dioxide emissions means consuming less energy and that means raising prices a lot, either directly with a tax or indirectly with a cap-and-trade permitting system. (Alternatively, the government could just ration energy, but fortunately we aren’t going in that direction.) The last thing you’d want to do is reduce gas taxes during the summer, as John McCain has proposed. That would just encourage people to burn more gas on extra vacation trips–as any straight talker would admit.

Here’s the link to the full post.  Also you can read Stephen Postrel’s analysis (linked from Virginia Postrel’s post as well) of carbon tax vs. permit economics here.

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This has gotta be one of the most bizarre things I’ve read in a while.

(Link via India Uncut)

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