Biden to make speech today on Congress passing gas tax holiday

[applegrove]

for three months on gas and diesel. Will try to get states to follow suit and oil companies to increase drilling. 14% of gas is taxes. Could take a dollar off the cost of gas. He will blame oil companies for the problem too for not increasing supply.

[uponit7771]

1. K&R, retail inventory is BALLOONING so where is most of inflation coming from if not Big Oil and ...

... housing where 40% of the buyers are "investors"?!

Good for Biden, at least show he's doing something ... Big Oils naked greed needs to be addressed

[betsuni]

2. I see TV pundits say Biden doesn't talk to the press and

blah blah blah bad thing.

[SWBTATTReg]

3. I don't know. Making something cheaper (as the gas tax holiday would do w/ gasoline) means

more will get sold, thus, leading to shortages I imagine, causing the refineries to increase prices at the pump, just a guess from an economist, using the law of supply and demand. Perhaps I'll be thankfully wrong, and gas will go down in prices for the average person but in reality, I don't think this will work.

[live love laugh]

8. Shortage schmortage -- contrived hoarding is more like it.

[Lovie777]

4. Pres. Biden is working on it . . .

with no help from the GQPs and oil companies that refuse to reduce the prices. One of the deadly sins, greed.

Corporate media will pounce.

[WhiskeyGrinder]

5. Three months? Raising it again in the thick of midterm campaigning? Huh.

[Wednesdays]

11. I was about to say...

Relatively low gas prices, then *BAM*... just in time for midterm elections.

[allegorical oracle]

13. Exactly. DeSantis is timing Fla's gas tax holiday for October for precisely that reason. It's all

about pleasing the voters.

[70sEraVet]

6. I know its the current fashion to blame others for any probem, BUT ITS OUR OWN DAMN FAULT!

We gobble up SUV's, luxury cars and 'manly' trucks with no thought about gas mileage. We don't invest in public transportation the way other countries do. We don't walk or ride bikes ANYWHERE (I'm surprised we haven't been installing 'moving sidewalks' into our homes, like at airports - from refrigerator, to couch, with a brief stop at the bathroom).
The people bitching the loudest about gas prices are driving their 15 mpg vehicle to the convenience store one block away to buy a bag of potato chips.

Disclaimer:
I'm retired, so don't have to drove to work anymore. Which gives me time to blame things on other people!

[live love laugh]

7. I appreciate his efforts but they'll just raise prices again.

[Magoo48]

9. How about we also end all oil company subsidies. Forever.

[Thunderbeast]

10. Bad idea!

Carbon in the atmosphere is currently 412 rpm. We KNOW that this is a recipe for catastrophe.

A tax holiday will be extremely hard to reverse in an election year. While I wish a comprehensive carbon tax, with low income offsets was on the table, it is not politically attainable until major cities are underwater and food becomes scarce.

Fossil fuels, especially gasoline, SHOULD be more expensive....otherwise there will be no incentive to do the hard work of replacing fossil fuels.

[WhiskeyGrinder]

12. There's no way to guarantee any "savings" are passed on to consumers. Unless he and his

advisors think that they can then send the message, "we did our part, and prices are still high," which is...pretty risky, in an election year.