Comments on: Electeds Go to the Mat for Cheap Gas http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/ Covering the New York City Streets Renaissance Fri, 10 Feb 2012 16:07:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ian D http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50118 Ian D Wed, 14 May 2008 23:19:26 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50118 <blockquote>If we took the counterintuitive approach of actually increasing the gas tax (or at least talking about it), we'd see a decrease in demand, which would probably spook the speculators, and thereby significantly lower the price. (perhaps to as little as half of what it is now) This would in turn help fund the government at the expense of the Middle Eastern and Russian oil cartels.</blockquote> I first had this explained to me in, um, 1988 or '90, by Sen. John Kerry, while I was working for his Senate reelection. This is almost word-for-word what he said. And he ended up his explanation with something like: <blockquote>Of course this would never happen...</blockquote>

If we took the counterintuitive approach of actually increasing the gas tax (or at least talking about it), we’d see a decrease in demand, which would probably spook the speculators, and thereby significantly lower the price. (perhaps to as little as half of what it is now) This would in turn help fund the government at the expense of the Middle Eastern and Russian oil cartels.

I first had this explained to me in, um, 1988 or ’90, by Sen. John Kerry, while I was working for his Senate reelection. This is almost word-for-word what he said. And he ended up his explanation with something like:

Of course this would never happen…

]]> By: Mark Walker http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50091 Mark Walker Wed, 14 May 2008 15:19:54 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50091 The role of speculators in high oil/gas prices is overblown. Most of the people blaming futures investors are the same panderers who demonize the oil companies. The real underlying trend -- the giant gorilla in the room -- is peak oil. Speculation just causes small blips in the much larger arc of peaking and depletion. The role of speculators in high oil/gas prices is overblown. Most of the people blaming futures investors are the same panderers who demonize the oil companies. The real underlying trend — the giant gorilla in the room — is peak oil. Speculation just causes small blips in the much larger arc of peaking and depletion.

]]> By: Marty Barfowitz http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50090 Marty Barfowitz Wed, 14 May 2008 15:13:12 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50090 JF, Maybe he's just a sensible guy but it may also be that Sen. Allard doesn't want to do anything to hurt his state's newly burgeoning oil and gas exploration industry. It's worth it to drill in Colorado when oil costs $127/barrel. JF,

Maybe he’s just a sensible guy but it may also be that Sen. Allard doesn’t want to do anything to hurt his state’s newly burgeoning oil and gas exploration industry. It’s worth it to drill in Colorado when oil costs $127/barrel.

]]> By: Car Free Nation http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50089 Car Free Nation Wed, 14 May 2008 15:10:16 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50089 Any effort to lower prices, and thereby increase demand, will be counterproductive to reducing gas prices. There are many indications that the current price of oil is being caused by speculation in the oil futures market. We now have a bubble similar the real estate bubble of a couple of years ago. If we took the counterintuitive approach of actually increasing the gas tax (or at least talking about it), we'd see a decrease in demand, which would probably spook the speculators, and thereby significantly lower the price. (perhaps to as little as half of what it is now) This would in turn help fund the government at the expense of the Middle Eastern and Russian oil cartels. Of course this would never happen... Any effort to lower prices, and thereby increase demand, will be counterproductive to reducing gas prices. There are many indications that the current price of oil is being caused by speculation in the oil futures market. We now have a bubble similar the real estate bubble of a couple of years ago.

If we took the counterintuitive approach of actually increasing the gas tax (or at least talking about it), we’d see a decrease in demand, which would probably spook the speculators, and thereby significantly lower the price. (perhaps to as little as half of what it is now) This would in turn help fund the government at the expense of the Middle Eastern and Russian oil cartels.

Of course this would never happen…

]]> By: JF http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50088 JF Wed, 14 May 2008 15:07:54 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50088 <blockquote>both the House and Senate overwhelmingly voted to divert oil supplies from the federal reserve</blockquote> Looks like Obama is willing to pander just as much as the other two senators. But <a href="http://allard.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=3f2fde37-f5eb-4ae1-93c1-b0011374d9ee" rel="nofollow">Wayne Allard</a> being the only senator with any sense on the matter? That's just weird.

both the House and Senate overwhelmingly voted to divert oil supplies from the federal reserve

Looks like Obama is willing to pander just as much as the other two senators. But Wayne Allard being the only senator with any sense on the matter? That’s just weird.

]]> By: Mark Walker http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50087 Mark Walker Wed, 14 May 2008 15:00:03 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50087 Defunding highways by killing the gas tax is OK by me. But failing to top off the strategic petroleum reserve is a bad idea -- the purpose of it is to provide 90 days of fuel in time of national emergency. That a huge majority of Congress is willing to throw national security to the winds to shave a few pennies off gas for the car-dependent is just plain scary. Defunding highways by killing the gas tax is OK by me. But failing to top off the strategic petroleum reserve is a bad idea — the purpose of it is to provide 90 days of fuel in time of national emergency. That a huge majority of Congress is willing to throw national security to the winds to shave a few pennies off gas for the car-dependent is just plain scary.

]]> By: Larry Littlefield http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/comment-page-1/#comment-50085 Larry Littlefield Wed, 14 May 2008 14:53:57 +0000 http://www.streetsblog.org/2008/05/14/electeds-go-to-the-mat-for-cheap-gas/#comment-50085 Again, who would pay to make up the revenues lost, and when. There is a generational war going on, with all the politicians on one side. They are pandering to organized interests, controlled by the needs and wants of older generations. Are there so few people over 50 who care about their own kids and grandkids? Those who came of age in the 1950s and 1960s have to be the whiniest generations in American history. Again, who would pay to make up the revenues lost, and when.

There is a generational war going on, with all the politicians on one side. They are pandering to organized interests, controlled by the needs and wants of older generations.

Are there so few people over 50 who care about their own kids and grandkids? Those who came of age in the 1950s and 1960s have to be the whiniest generations in American history.

]]>