Posted by Curt on 22 June, 2022 at 3:39 pm. 7 comments already!

by Ace

He’s calling for suspending the federal gas tax, and demanding that states cut the gas tax too, or “find some other ways to deliver some relief.”
 
Um, if they cut the gas tax, they’ll just have to raise other taxes. States cannot run deficits. So what you mean, Joe, is that you want states to hide the true price of gas by cutting the gas tax while increasing taxes on things other than gas.
 
He doesn’t explain how we can both cut the federal gas tax and also pay for the road and bridge construction and repair that the federal gas tax pays for. He just insists, senilely, “we can do both.”
 
His call for a cut in the federal gas tax is being mocked even on CNN, where even the egregiously partisan propagandist John Harwood admits it will do nothing to “fix supply.” He notes that Obama called the call for a federal gas tax suspension a “gimmick” in 2008. When Lyin’ Biden was his vice presidential running mate, of course, under Jibracky.
 
Another analyst on CNN says Moody’s calls a suspension of the gas tax inflationary,” and would of course reduces money for infrastructure, which the federal gas tax funds. Which would be strange given that we’re supposedly all about fixing roads and bridges right now.
 
He also notes that sellers of gasoline would not necessarily pass the full savings of the cut in the gas tax to consumers. They could just pocket some of the windfall themselves, therefore blunting the hoped-for relief for consumers.
 
The same analyst notes that this artificially, gimmicky reduction in price will boosts demand, which is the last thing we want when supply is low and demand is high. By slightly reducing prices, it will actually increase demand, which will then drive prices right back up to where they were before the gas tax suspension gimmick.
 
What Biden needs to do, of course, is increase supply. This is so obvious that even CNN sees it.
 
But he won’t do that, because he considers his work in stunting US oil production an achievement he wants to make permanent. He’s willing to dick around with releases from the Strategic Petroleum Reserve and suspending the gas tax to provide the illusion of short term price relief, but he wants to keep the cap on US production permanent.
 
Because it’s part of the “incredible transition” to solar and wind power the Democrats continue fantasizing about:
 

 
He claims the US is producing more oil now, “on average,” than it did under Trump.
 
Note he says “on average,” not “at peak.”
 
That’s because the worldwide covid shutdown and attendant crash in demand for oil caused, naturally, a sharp fall in the production of oil. So Trump’s oil production, which had hit all-time records, then slowed down starting in December 2019 — lowering his “average” oil production.

The claim from Democrats that domestic production is higher now than during the Trump administration is based on a comparison of four-year averages that includes the tremendous drop in economic activity at the start of the COVID-19 pandemic. Domestic oil production under Biden has yet to come close to the pre-pandemic levels reached under the prior administration, a more detailed Free Beacon analysis found.
 

oilproduction.png

 
The Free Beacon analysis of domestic crude oil production data shows that prior to the COVID-19 pandemic, the United States produced just under 13 million barrels of oil per day at the end of 2019 and beginning of 2020. For comparison, that figure is more than 20 percent higher than the amount of oil the United States produced per day in September 2021. Energy industry expert James Wilson, who runs an oil and gas economics consulting firm, says the White House is abusing statistics to fit a narrative.

Biden has essentially capped energy production at the levels they were at during the lockdown — and he’s surprised that post-lockdown, demand has increased and prices have necessarily soared.
 
As MRCTV asks: Where are the leftwing propaganda media fact-checkers?
 

 
Even the leftwing propagandist Jonathan Karl is forced to confess that that isn’t quite accurate:
 

 
And the head of the Federal Reserve Bank just contradicted Biden on this claim:

Read more
 

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