On Thursday, Investor’s Business Daily posted an article about the rising price of gasoline. It is becoming obvious that the Democrats plan to blame President Trump for the increased cost and use the issue in the 2018 mid-term elections. Well, not so fast.
The article reminds us that in the past the Democrats have supported increasing gasoline prices in the name of the phony science of global warming.
The article reminds us:
Sen. Minority Leader Charles Schumer and other Democrats plan to use this price spike to blast President Trump and, hopefully, improve their election chances in November.
“President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices,” Schumer said. “These higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle and lower income people.”
But Schumer, as well as the reporters covering him, should know that the high gas prices are the result of three factors that are beyond Trump’s control.
One is the fact that OPEC has tightened its production quotas to counter the huge increase in U.S. oil production thanks to the fracking revolution. Trump has been trying to boost production still more.
So what have Democrats said about gasoline prices in the past? The article reports:
As recently as 2015, Democrats were pushing to nearly double the federal gasoline tax. At the time, House Minority Leader Nancy Pelosi said that it was the perfect time to do so because “if there’s ever going to be an opportunity to raise the gas tax, the time when gas prices are so low — oil prices are so low — is the time to do it.”
Democrats in California pushed through a 12-cent-per-gallon hike in the state’s gas tax last year that Republicans are vowing to roll back if they can.
…At the same time, Democrats have pledged to impose a tax on carbon emissions of around $50 per ton of CO2 — which would go up each year at a rate faster than inflation — to combat “climate change.”
Schumer himself promised to enact a carbon tax if Hillary Clinton won and Democrats regained control of the Senate in the 2016 elections.
Well, guess what? A carbon tax of that magnitude would sharply raise gasoline prices. A report out of the University of Michigan last fall concluded that a carbon tax of $40 per ton would hike gasoline prices by 36 cents a gallon.
Higher gasoline prices impact everyone who drives a car, a truck, or a motorcycle, whether they are rich or poor. To people who depend on their car to get them to work every day, the increased price of gasoline can mean the difference between taking a family vacation or staying home. It can mean the difference between taking the family out to dinner occasionally or eating at home. Financially and mentally, the price of gasoline matters. It is unfortunate that rather than work with the President to help bring the price of gasoline down and bring financial relief to Americans, the Democrats are choosing to make gasoline prices a political issue.