If you are like me you are growing very nervous about the current political campaign. You hear Obama and Clinton promising to place windfall profit taxes on “Big Oil”. That sounds really good to everyone who is hurting at the pump, but this is uber dangerous.
Unless Clinton and Obama failed High School economics, they realize that their solutions are totally bogus. At this point you should stop and read the following simple article, which is much better than my own: “Too ‘Complex’?” by Thomas Sowell.
The politicians know that placing penalties on the gas companies can only cause increased prices or decreased supply. They also know that the gas companies will always look like the bad guys. So once things get worse, they will accuse the gas companies of more “price gouging”. As long as there is a serpent to attack, their kingdom is safe.
McCain is no better. He is all for pursuing alternative fuels. That translates into more bogus government solutions like Ethanol.
The best thing the government can do in this situation is to step back. The government can remove the tax on gas (even if Obama, the elitist that he is, thinks that paying 40 cents less on a gallon of gas won’t help the little guy). They can remove requirements for ethanol use (which would also let food prices settle back down and stop the destruction of thousands of acres of rain forest). They can remove restrictions on drilling and refining (who cares if the such and such senator has beach front property and they do not want their view obstructed).
Unfortunately, that would require a President who is willing to admit that he is not the answer. Such a man could never get elected.
I am running on the platform that you people need to budget, stop spending money recklessly, stop complaining, work harder, and trust Jesus Christ to take care of you. Meanwhile, I am going to make sure the government does not put its nose in places where it does not belong.”